Bắc Ninh
Trade surplus hits $1.47B in 2 months
Vietnam posted a trade surplus of US$1.47 billion in the first two months of 2025, according to the National Statistics Office.
Vietnam’s total import-export turnover reached $127.07 billion during the period, a 12% increase from a year ago, the office reported on Thursday.
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Containers seen at Tan Vu Port in Hai Phong City, July 2023. |
In February alone, exports stood at $31.11 billion, down 6.2% from the previous month but up 25.7% year-on-year. The domestic economic sector posted an impressive growth rate of 32.8%, while the foreign-invested sector, including crude oil, increased by 23.2%.
For the first two months of the year, exports reached $64.27 billion, an 8.4% year-on-year rise. The domestic sector contributed $17.92 billion, up 12.8% and accounting for 27.9% of total exports, while the foreign-invested sector, including crude oil, accounted for $46.35 billion, up 6.7% and making up 72.1% of the total.
During this period, 12 export items surpassed the $1 billion mark, making up 77.7% of total export value. Four of these items exceeded $5 billion.
By sector, processed industrial goods remained the dominant export category, generating $57.01 billion, or 88.7% of the total. Agricultural and forestry products contributed $5.35 billion (8.3%), seafood reached $1.43 billion (2.2%), and fuel and mineral products totaled $0.48 billion (0.8%).
On the import side, Vietnam recorded $62.8 billion in total import value, an increase of 15.9% from a year ago. The domestic sector accounted for $22.8 billion, up 18.7%, while the foreign-invested sector imported $40 billion worth of goods, up 14.4%.
Sixteen imported items exceeded $1 billion in value, comprising 76.2% of total imports, with two items surpassing the $5 billion mark.
Production materials dominated with $58.83 billion, accounting for 93.7% of total imports. This included machinery, equipment, tools, and spare parts, which made up 50.8%, while raw materials, fuel, and supplies accounted for 42.9%. Consumer goods imports stood at $3.97 billion, representing a 6.3% share.
The U.S. remained Vietnam’s largest export market, with turnover reaching $19.6 billion. Meanwhile, China continued to be the country’s biggest import source, with imports valued at $23.3 billion.
Vietnam achieved a trade surplus of $17 billion with the U.S., a 16.3% increase from the previous year, while its surplus with the EU grew by 19.2% to $6.4 billion. Notably, trade surplus with Japan surged nearly 10 times from a year ago to $0.5 billion.
However, Vietnam continued to run trade deficits with several major partners, including China ($15.4 billion, up 36.9%), South Korea ($4.6 billion, up 20.6%), and ASEAN ($2.1 billion, up 116.8%).
Vietnam is projected to import an additional 6 million tonnes of corn and 1.7 million tones of soybean meal by 2034, representing 7% of global corn imports and 9% of global soybean meal imports.
The minister expressed his delight at the progress in bilateral economic ties, noting that Vietnam-Guangxi trade reached 41.6 billion USD in 2024, a 15.4% increase year on year. Vietnam has been Guangxi’s largest trading partner for 26 consecutive years, he said.
Minister of Industry and Trade Nguyen Hong Dien and US Ambassador to Vietnam Marc E.Knapper discussed ways to strengthen bilateral economic, trade and investment cooperation, with a focus on energy and industrial sectors, at their working session held recently in Hanoi.
In January, Vietnam’s export to the US reached 9.8 billion USD, while import stood at 1.3 billion USD, resulting in a trade surplus of 8.5 billion USD.
Vietnam and the Republic of Korea have discussed measures to enhance cooperation for the goal of raising bilateral trade to 150 billion USD by 2030.
Vietnam’s exports to India amounted to 9.06 billion USD, up 7.6% year-on-year, while imports from India stood at 5.8 billion USD, down 0.6%.
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