Vietnam reports strong January-July trade data, imports from US rise 22.7%
Vietnam reported robust trade activity in the first seven months of this year, with imports of goods from the United States rising by nearly 25% after its March tariff cuts on several American products, government data showed on Wednesday.
Exports in the January-July period rose 14.8% over the same period of 2024 to $262.44 billion, while imports were up 17.9% to $252.26 billion, translating into a trade surplus of $10.18 billion, the National Statistics Office said in a report.
Vietnam, a regional manufacturing powerhouse, said it has been seeking to clinch a trade deal with the United States, its largest export market, although a month ago Donald Trump announced that he would put a 20% tariff on many Vietnamese exports and that Vietnam could import U.S. products with a zero percent tariff.
Vietnam took several measures to facilitate its trade negotiations with Trump, including announcing in March that it would cut its tariffs on several American products, including LNG, automobiles, ethanol and farm produce.
As a result, imports from the U.S. in the January-July period rose 22.7% from a year earlier to $10.54 billion, the government’s Customs Department said in a separate report on Wednesday.
Vietnam’s exports to the U.S. in the first seven months of 2025 also rose sharply from a year earlier as exporters from Vietnam were reportedly rushing to deliver their products before the tariff took effect.
Shipments from Vietnam to the U.S. in the January-July period rose 27.8% to $85.12 billion, the Customs Department report said. Vietnam’s trade surplus with the U.S. widened to $74.6 billion in the period from $58 billion a year earlier.
Both the NSO and the Customs data showed China was Vietnam’s largest source of imports in the first seven months of this year, with a value of $101.5 billion, up from $79.8 billion a year earlier.
China is Vietnam’s largest trading partner and a key source of materials and equipment for the Southeast Asian country’s manufacturing industries.
The NSO report showed Vietnam’s overall exports in July rose 16% from a year earlier to $42.27 billion, while industrial production increased by 8.5% from a year earlier.
Imports in July rose 17.8% to $40 billion, resulting in a trade surplus of $2.27 billion for the month.
The government said on Monday that imports and exports both increased sharply because firms were ramping up production to meet new orders.
Consumer prices in July rose 3.19% from a year earlier, the NSO said, adding that retail sales in July were up 9.2%.
By Khanh Vu – Reuters – August 6, 2025