Vietnam Exports Hit $20.3 Billion in Early March as Imports Surge on Production Demand

Vietnam’s trade activity showed continued momentum in early March 2026, with exports growing steadily while imports surged due to rising demand for production inputs.According to preliminary data released by the General Department of Customs on March 18, total trade turnover reached $41.23 billion in the first half of March.

Exports accounted for $20.3 billion, marking a 13.2% year-on-year increase, equivalent to an additional $2.32 billion compared to the same period in 2025.Notably, four export categories exceeded $1 billion, including computers and electronic components, phones and parts, machinery and equipment, and textiles. These sectors remain the backbone of Vietnam’s export growth.Meanwhile, other industries such as footwear, wood products, transportation equipment, coffee, seafood, and fruits and vegetables also maintained strong performance, each generating hundreds of millions of dollars in export value.

On the import side, turnover reached $20.9 billion, up 17.8% year-on-year, driven mainly by machinery, equipment, and electronic components used for domestic production.From the beginning of the year to March 15, Vietnam’s total trade value reached $197.1 billion, with exports at $96.8 billion (up 17.6%) and imports at $100.3 billion (up 24.6%), resulting in a trade deficit of $3.5 billion.

Three export categories have already surpassed $10 billion in value, including electronics ($23.3 billion), phones ($14.2 billion), and machinery ($11.6 billion).The Ministry of Industry and Trade noted that rising imports in early 2026 should not be seen as a negative signal. As a highly open economy with trade equivalent to roughly 200% of GDP, Vietnam’s trade balance often fluctuates in line with production cycles.

Typically, exporters accelerate shipments at the end of the year to meet holiday demand in major markets, while imports increase at the beginning of the year as businesses stock up on raw materials and components.Therefore, the current trade deficit reflects strong production demand and suggests that Vietnam’s manufacturing and export sectors remain on a solid growth trajectory.