Vietnam posts $13.8 billion trade deficit as imports surge and exports grow

Vietnam recorded a trade deficit of about US$13.8 billion in the first five months of 2026, despite total foreign trade reaching roughly US$445 billion, up 25% year‑on‑year. Imports jumped more than 30% to US$229.5 billion, while exports rose 19.5% to US$215.7 billion. Analysts linked the deficit to firms stockpiling raw materials amid Middle‑East tensions and anticipated changes in U.S. trade policy, viewing the higher imports as a sign of an expanding production cycle.

Foreign direct investment rose 10% in the same period, with 83% of new capital flowing into manufacturing, yet the deficit highlights persistent weaknesses in domestic supply chains. Experts urged development of local value‑chains, technological innovation and stronger domestic firms to reduce reliance on imported inputs. Export growth was driven by electronics, machinery and phones, with the United States, China and the European Union remaining the top markets. Risks to the second half of the year include U.S. tariff negotiations and broader trade policy uncertainties.