Vietnam's import and export situation in March and the first three months of 2026.

1. Overall assessment

In March 2026, the total value of Vietnam's goods exports and imports reached US$93.55 billion, an increase of 38.8% (equivalent to an increase of US$26.17 billion) compared to the previous month.

Specifically, exports in the month reached $46.44 billion, an increase of 40%, or $13.27 billion, compared to the previous month, and imports were $47.11 billion, an increase of 37.7%, or $12.9 billion.

Cumulatively over the first three months of 2026, the total value of goods exports and imports reached US$249.50 billion, an increase of 23%, or US$46.55 billion, compared to the same period last year. Of this, exports totaled US$122.93 billion, an increase of 19%, or US$19.62 billion, and imports totaled US$126.57 billion, an increase of 27%, or US$26.93 billion, compared to the same period last year .

The merchandise trade balance in March 2026 showed a deficit of $677 million, bringing the deficit for the first three months of 2026 to $3.64 billion, compared to a surplus of $3.68 billion in the same period of the previous year.

The total value of exports and imports of FDI enterprises in the first quarter of this year was US$189.58 billion, an increase of 27.4% (equivalent to an increase of US$40.8 billion) compared to the same period in 2024. Of this, exports reached US$98.21 billion, an increase of 24.6%, equivalent to an increase of US$19.4 billion, and imports reached US$91.37 billion, an increase of 30.6%, equivalent to an increase of US$21.4 billion.

Domestic businesses in the first quarter of 2026 recorded an import-export value of US$59.92 billion, an increase of 10.6% compared to the same period last year, equivalent to an increase of US$5.76 billion. Exports by this group of businesses reached US$24.72 billion, an increase of 0.9%, equivalent to an increase of US$252 million, and imports reached US$35.19 billion, an increase of 18.7%, equivalent to an increase of US$5.54 billion compared to the same period last year.

2. Import and export market

Regarding export markets:

Chart 1: Top 10 export markets of Vietnam in Q1/2025 and Q1/2026

- United States: Exports to the US market in the first quarter of 2026 reached $39.03 billion, an increase of 24.3%, equivalent to an increase of $7.64 billion compared to the same period last year, accounting for 31.8% of the country's total export value.

In the first quarter of 2026, exports to the United States increased significantly in two product groups: exports of computers, electronic products and components reached $12.36 billion, a 65.5% increase (equivalent to a $4.89 billion increase), and exports of machinery, equipment, tools and parts reached $6.14 billion, a 16.8% increase (equivalent to a $884 million increase).

- EU (27 countries): In the first quarter of 2026, exports to the EU (27 countries) reached US$15.07 billion, an increase of 9.9%, equivalent to an increase of US$1.36 billion compared to the same period last year.

- China: In the first quarter of 2026, Vietnam's exports to China reached US$16.85 billion, an increase of 26.4%, equivalent to an increase of US$3.51 billion compared to the same period last year.

- ASEAN: Exports to the ASEAN market in Q1/2026 totaled US$10.31 billion, an increase of 11.9%, or US$1.1 billion, compared to the same period last year.

- South Korea: Exports to the South Korean market in the first quarter of 2026 totaled $8.13 billion, an increase of 19.4%, or $1.32 billion, compared to the same period last year.

Import market:

Chart 2: Vietnam's top 10 import markets in Q1/2025 and Q1/2026

- China: In the first quarter of 2026, the total value of imports from the Chinese market reached US$50.10 billion, an increase of 31.6%, equivalent to an increase of US$12.04 billion compared to the same period last year, accounting for40% of the country's total import value.

Specifically, imports of computers, electronic products and components from China reached US$16.77 billion, an increase of 62.2% (equivalent to an increase of US$ 6.43 billion) , and imports of machinery, equipment, tools and spare parts reached US$9.72 billion, an increase of 25% (equivalent to an increase of US$ 1.94 billion) compared to the same period last year.

- South Korea: Imports from South Korea in the first quarter of 2026 reached US$18.73 billion, an increase of 34.5%, or US$4.8 billion, compared to the same period last year.

- ASEAN: Imports from ASEAN in the first quarter of 2026 reached US$15.3 billion, an increase of 17.3%, equivalent to an increase of US$2.26 billion compared to the same period last year.

In addition, Vietnam's imports from several markets in the first quarter of 2026 increased significantly compared to the same period last year. Specifically, imports from Taiwan reached US$10.1 billion, an increase of 47.9% (equivalent to an increase of US$3.27 billion); from the United States reached US$5.14 billion, an increase of 25.3% (equivalent to an increase of US$1.04 billion); and from Malaysia reached US$3.13 billion, an increase of 39.5% (equivalent to an increase of US$0.89 billion) compared to the same period last year.

2. Export of goods

Goods exports in March 2026 reached $46.44 billion, a 40% increase (equivalent to an increase of $13.27 billion) compared to the previous month, setting a new all-time record.

Of these, seven product groups achieved export values ​​exceeding $1 billion, reaching some of the highest levels ever recorded.

Specifically, computer products, electronic products and components reached US$13.01 billion; machinery, equipment, tools and spare parts reached US$5.7 billion; telephones and components reached US$5.60 billion; textiles and garments reached US$3.16 billion; footwear reached US$1.95 billion; wood and wood products reached US$1.39 billion; transport vehicles and parts reached US$1.64 billion; and coffee reached US$1.06 billion. In total, the export value of these seven product groups reached US$32.45 billion, accounting for 70% of the country's total export value.

Total merchandise exports in the first quarter of 2026 reached US$122.93 billion, a 19% increase compared to the same period last year.

The scale of goods exports in the first quarter of 2026 increased to US$19.62 billion compared to the same period last year. Of this, five product groups saw increases of over US$500 million year-on-year. These are: computers, electronic products and components (up US$9.61 billion); telephones and components (up US$2.71 billion); machinery, equipment and parts (up US$2.62 billion); toys, sporting goods and parts (up US$0.68 billion); and transportation vehicles and parts (up US$0.52 billion). Overall, the total export value of these five product groups increased by US$16.14 billion year-on-year.

In addition, exports of some product groups decreased compared to the same period last year, such as petroleum products (down $198 million), coffee (down $147 million), rice (down $131 million), and crude oil (down $103 million)...

Chart 3: Export value of the 10 largest commodity groups in Q1 / 2025 and Q1 / 2026

Some of the main export product groups

- Computers, electronic products and components: The export value of this product group in March 2026 reached US$13 billion, thereby raising the export value in the first three months of 2026 to US$30.72 billion, accounting for 25% of the country's total export value and increasing by 45.5% (equivalent to an increase of US$9.61 billion) compared to the same period last year.

Exports of computers, electronic products, and components in the first quarter of 2026 were mainly to markets such as the United States with $12.36 billion, up 65.5% year-on-year; China with $4.39 billion, up 20.7%; the EU (27 countries) with $2.89 billion, up 19.6%; Hong Kong with $3.09 billion, up 50.2%; and South Korea with $2.46 billion, up 24.5% year-on-year.

- Mobile phones and components : Exports of mobile phones and components in March 2026 totaled US$5.6 billion, a 2.1% increase compared to the previous month. The export value of mobile phones and components in the first quarter of 2026 reached US$16.75 billion, accounting for 14% of the country's total export value and increasing by 19.3% (equivalent to a US$2.71 increase) compared to the same period last year.

Exports of various types of telephones and components in the first quarter of 2026 were mainly to markets such as China, reaching US$3.54 billion, an increase of 30.9%; the United States, reaching US$2.67 billion, a decrease of 2.7%; the EU (27 countries), reaching US$2.35 billion, an increase of 5.5%; and South Korea, reaching US$1.82 billion, an increase of 133% compared to the same period last year.

- Machinery, equipment, tools and other spare parts: The export value of machinery, equipment, tools and spare parts in March 2026 was US$5.7 billion, an increase of 48.1% compared to the previous month. Overall, the export value of machinery, equipment, tools and spare parts in the first quarter of 2026 reached US$15 billion, an increase of 21.2% (equivalent to an increase of US$2.62 billion) compared to the same period last year.

Exports of machinery, equipment, tools and spare parts in the first three months of 2026 were mainly to markets such as the United States, reaching US$6.14 billion, an increase of 16.8%; the EU (27 countries), reaching US$1.75 billion, an increase of 1.7%; China, reaching US$1.4 billion, an increase of 80.6%; Hong Kong, reaching US$1.16 billion, an increase of 75.5%; and ASEAN, reaching US$950 million, an increase of 14.2% compared to the same period last year.

- Wood and wood products: In March 2026, exports of wood and wood productsreached US$1.39 billion, an increase of 42.5% compared to the previous month. Overall, the value of textile and garment exports in the first quarter of 2026 reached US$3.99 billion, an increase of 1.1% (equivalent to an increase of US$44.3 million) compared to the same period last year.

In the first quarter of 2026, exports of wood and wood products to the United States reached $1.96 billion, a decrease of 8.3%; to China reached $608 million, an increase of 47.2%; to the EU (27 countries) reached $236 million, an increase of 46.4%; and to Japan reached $540 million, an increase of 6.1% compared to the same period last year.

- Textiles and garments: In March 2026, textile and garment exportsreached US$3.16 billion, an increase of 29.8% compared to the previous month. Overall, the value of textile and garment exports in the first quarter of 2026 reached US$8.86 billion, an increase of 1.9% (equivalent to an increase of US$166 million) compared to the same period last year.

In the first quarter of 2026, textile and garment exports to the United States reached $3.93 billion, an increase of 3.7%; to the EU (27 countries) reached $1.04 billion, an increase of 13.2%; to Japan reached $1 billion, a decrease of 6.7%; and to South Korea reached $735 million, a decrease of 11.1% compared to the same period last year.

- Footwear of all kinds: In March 2026, exports of footwear of all kinds reached US$1.95 billion, an increase of 37.7% compared to the previous month. Overall, the export value of footwear of all kinds in the first quarter of 2026 reached US$5.42 billion, an increase of 0.8% (equivalent to an increase of US$43 million) compared to the same period last year.

Of that total, exports to the US market amounted to $2.15 billion, an increase of 9%, and to the EU (27 countries) to $1.4 billion, an increase of 3.1%. Overall, the value of footwear exports to these two markets accounted for 65% of the total export value of this product group nationwide.

- Toys, sporting goods and parts: The export value of toys, sporting goods and parts in March 2026 reached US$746 million, bringing the total export value of this product group in the first quarter of 2026 to US$1.92 billion, an increase of 54.9% (equivalent to an increase of US$0.68 billion) compared to the same period last year.

In the first quarter of 2026, exports of toys, sporting goods, and parts to the US market reached $919 million, a 16.6% increase compared to the same period last year; to Japan reached $289 million, a 154% increase; and to the EU (27 countries) reached $241 million, a 93.4% increase. Overall, the export value of this product group to these three markets accounted for 76% of the total export value of this product group nationwide.

- Rice: In March 2026, rice exports reached over 1 million tons, an increase of 62.3% compared to the previous month. Overall, in the first quarter of 2026, rice exports reached 2.28 million tons, a decrease of 1.2% compared to the same period last year, and the export value reached US$1.07 billion, a decrease of 10.9% (corresponding to a decrease of US$131 million) compared to the same period last year.

Vietnam exported 1.37 million tons of rice to the ASEAN market, accounting for 60% of the country's total rice exports and increasing by 19.8% compared to the same period last year; exports to China reached 334,000 tons, an increase of 44.1%. Meanwhile, exports to Ghana reached 144,000 tons, a decrease of 17.9%, and to Ivory Coast reached 144,000 tons, a decrease of 51.1% compared to the same period last year.

- Seafood: Seafood exports in March 2026 reached US$927 million, a sharp increase of 31.2% compared to the previous month. Overall, the value of fruit and vegetable exports in the first quarter of 2026 reached US$2.64 billion, an increase of 14.5% (equivalent to an increase of US$334 million) compared to the same period last year.

Vietnam's seafood exports are mainly to China, reaching $707 million, a 52.3% increase compared to the same period last year; Japan, reaching $365 million, a 1.8% increase; the United States, reaching $343 million, a 7.4% decrease; and ASEAN, reaching $185 million, a 19.3% increase...

- Fruits and vegetables: Exports of fruits and vegetables in March 2026 reached US$532 million, a sharp increase of 51.6% compared to the previous month. Overall, the value of fruit and vegetable exports in the first quarter of 2026 reached US$1.53 billion, an increase of 31.4% (equivalent to an increase of US$365 million) compared to the same period last year.

Vietnam's fruit and vegetable exports are mainly to China, reaching $779 million, a 49.6% increase compared to the same period last year and accounting for 51% of the country's total export value of this product group; the United States reached $130 million, a 16.6% increase; and ASEAN reached $123 million, a 27.3% increase.

- Crude oil: Crude oil exports in March 2026 totaled 80.1 thousand tons, a decrease of 71.1% compared to the previous month. Overall, crude oil exports in the first quarter of 2026 reached 431 thousand tons, a decrease of 26.3%, and were valued at US$255 million, a decrease of 28.8% (corresponding to a decrease of US$103 million) compared to the same period last year.

Crude oil exports to Australia totaled 259,000 tons, down 16.8% year-on-year, while exports to ASEAN were 112,000 tons, a sharp decrease of 42%.

- Petroleum products: The volume of petroleum products exported in March 2026 was 15.2 thousand tons, a decrease of 76.3% compared to the previous month. Overall, the volume of petroleum products exported in the first quarter of 2026 was 130 thousand tons, a decrease of 64.8%, and the value was 64 million USD, a decrease of 75.6% (corresponding to a decrease of 198 million USD) compared to the same period last year.

In the first quarter of 2026, exports of petroleum products to the ASEAN market reached 129.9 thousand tons, a decrease of 32.2% compared to the same period last year, and accounted for 99.8% of the country's total exports of this product group.

4. Importing goods

Imports of goods in March 2026 reached $47.11 billion, a sharp increase of 38.2%, equivalent to an increase of $13.01 billion compared to the previous month and a 27.9% increase compared to March 2025.

The total value of goods imported into the country in the first three months of 2026 reached US$126.57 billion , a 27% increase compared to the same period last year, reaching an all-time high. Of this, 23 outof 57 product groups exceeded US$1 billion in import value, and one group, computers, electronic products, and components, exceeded US$40 billion, reaching US$47.57 billion.With these results, the scale of Vietnam's imports in the first quarter of 2026 increased by US$26.93 billion compared to the first quarter of 2025.

Chart 4:10 shows the product groups with the highest import value in Q1/2025 and Q1/2026.

Some major import product groups

- Computers, electronic products and components: In the first quarter of 2026, imports of computers, electronic products and components reached US$47.57 billion, a sharp increase of 50.5%, or US$15.95 billion, compared to the same period last year. Of this, FDI enterprises accounted for nearly 62%, with import value reaching US$9.55 billion, an increase of 16.7%, or US$1.36 billion. Domestic enterprises imported this group of goods at US$5.95 billion, a sharp increase of 33.8% (or US$1.5 billion) compared to the same period in 2025.

The four main markets supplying this product group to Vietnam in Q1/2026 were China with $16.77 billion, an increase of 62.2% (equivalent to an increase of $6.43 billion); South Korea with $12.72 billion, an increase of 48.6% (equivalent to an increase of $4.16 billion); Taiwan with $7.7 billion, an increase of 68.7% (equivalent to an increase of $3.14 billion); and Japan with $2.63 billion, an increase of 32% (equivalent to an increase of $637 million).

- Machinery, equipment, tools and spare parts: The import value of iron and steel products in the first quarter of 2026 reached US$4.73 billion, an increase of 11% compared to the same period last year. Of this, imports of iron and steel products reached 3.6 million tons with a value of US$2.61 billion, a decrease of 2.9% in volume and 1% in value; imports of iron and steel products reached US$2.13 billion, a sharp increase of 30.2%, equivalent to an increase of US$493 million.

Imports of various types of iron and steel products in the first quarter of 2026 were mainly from China, valued at US$2.61 billion, an increase of 3% (equivalent to an increase of US$75 million) compared to the first quarter of 2025, and accounting for 55% of the total import value of this product group nationwide.

- Iron and steel products: The import value of iron and steel products in the first quarter of 2026 reached US$4.73 billion, an increase of 11% compared to the same period last year. Of this, imports of iron and steel products reached 3.6 million tons with a value of US$2.61 billion, a decrease of 2.9% in volume and 1% in value; imports of iron and steel products reached US$2.13 billion, a sharp increase of 30.2%, equivalent to an increase of US$493 million.

Imports of various types of iron and steel products in the first quarter of 2026 were mainly from China, valued at US$2.61 billion, an increase of 3% (equivalent to an increase of US$75 million) compared to the first quarter of 2025, and accounting for 55% of the total import value of this product group nationwide.

- Base metals and products: The import value of other base metals and products in the first quarter of 2026 reached US$4.52 billion, an increase of 27.3% (equivalent to an increase of US$969 million) compared to the same period in 2025.

Vietnam mainly imports other base metals and products from the following markets: China, reaching US$2.08 billion, an increase of 33.2% (equivalent to an increase of US$518 million); and South Korea, reaching US$479 million, an increase of 17% (equivalent to an increase of US$68 million) compared to Q1/2024.

- Fuel group (including various types of coal, crude oil, gasoline and liquefied natural gas): In the first quarter of 2026, Vietnam imported nearly 24 million tons of fuel, worth US$6.9 billion, a slight increase of only 0.7% in volume but a significant increase of 14.4% in value compared to the same period last year. The main reason is the average import price of this group of goods increased by 34.4% compared to the first quarter of 2025 (specifically: gasoline increased by 72.5%; crude oil increased by 31.1%; liquefied natural gas increased by 8%; and various types of coal increased by 1.5%).

Specifically, imports of all types of coal totaled 16.58 million tons, a decrease of 3.4%, while imports of liquefied natural gas (LNG) amounted to 883,000 tons, an increase of 46.4%.

For petroleum products, imports in the first quarter of 2026 totaled 3.37 million tons, a 44.5% increase compared to the same period last year, with a value of US$2.93 billion, a 77.8% increase. Of this, diesel imports reached 1.86 million tons, a 69.6% increase and accounting for 55% of the country's total petroleum imports; gasoline imports reached 833,000 tons, a 48% increase and accounting for 25%; and aviation fuel imports reached 554,000 tons, a 4.6% increase and accounting for 16.4% of the country's total petroleum imports.

Vietnam's crude oil imports in the first quarter of 2026 reached 3.12 million tons, valued at US$1.66 billion, a decrease of 15.4% in volume and 24.1% in value compared to the same period last year. Of this, Vietnam mainly imported crude oil from Kuwait, with imports reaching 2.59 million tons, a decrease of 11.4% compared to the first quarter of 2025, accounting for over 83% of the country's total crude oil import value.

- Raw materials for the textile, garment, and footwear industries (including fabrics, cotton, various textile fibers, and raw materials for textiles, garments, and footwear): In the first quarter of 2026, imports of raw materials for the textile, garment, and footwear industries reached US$6.45 billion, a decrease of 2% (corresponding to a decrease of US$134 million) compared to the same period last year and a decrease of 11.6% compared to the fourth quarter of 2025.

Specifically, fabrics of all kinds reached $3.39 billion, a decrease of 1.7%; textile and footwear raw materials and accessories reached $1.72 billion, an increase of 1.3%; textile fibers of all kinds reached $683 million, an increase of 5%; and cotton of all kinds reached $657 million, a decrease of 16.5% compared to the same period last year.

In the first quarter of 2026, the majority of raw materials and components for the textile, garment, and footwear industries imported into Vietnam originated from China, accounting for 51% of the total, worth $3.79 billion, a 3.1% increase compared to the same period last year.

- Complete automobiles and auto parts: Imports of complete automobiles of all types in March reached 25,255 units, a sharp increase of 56.9% compared to the previous month. Overall, in the first quarter of 2026, Vietnam imported 56,012 complete automobiles of all types, a sharp increase of 21% compared to the same period last year, mainly due to a strong increase in truck imports. Of these, the number of passenger cars with 9 seats or fewer imported into Vietnam reached 36,388 units, accounting for 65% of the total number of complete automobiles of all types imported into Vietnam and approximately the same as the same period last year.

In the first quarter of 2026, the majority of complete automobiles imported into Vietnam originated from Indonesia, China, and Thailand. Specifically, imports from Indonesia totaled 23,402 units, an increase of 27.5%; imports from China reached 17,168 units, an increase of 74.5%; and imports from Thailand totaled 13,077 units, a decrease of 18.7% compared to the same period last year.

- Chemicals and chemical products: The import value of this group of goods in the first quarter of 2026 reached US$5.79 billion, an increase of 10.3%, equivalent to an increase of US$542 million compared to the same period last year. This is the highest import level for this group of goods in the same period of the year ever recorded.

In the first quarter of 2026, Vietnam's imports of plastic raw materials and products mainly came from China, valued at US$2.79 billion, an increase of 28.1%, equivalent to an increase of US$612 million, and accounting for 48% of the total import value of this product group nationwide.

Source: customs.gov.vn