FX.co ★ Vietnam Exports Rise 14% in May

In May 2025, Vietnam recorded a substantial trade surplus of USD 4.67 billion in goods, a marked turnaround from the USD 0.45 billion deficit experienced in the same month the previous year. This achievement represents the most significant trade surplus since August 2020, primarily driven by a notable increase in exports. The Vietnamese government reported on Wednesday that exports had risen by 14% year-over-year. However, this growth was largely fueled by manufacturers accelerating shipments due to a temporary 90-day suspension of new US tariffs announced by the Trump administration, a rate that had decelerated from a 19.8% rise in April. In the previous year, exports to the United States contributed approximately 30% to Vietnam's GDP. With President Trump’s new tariff policies, Vietnamese exports are expected to encounter a 46% hike in tariffs. Sources familiar with the matter, as reported by Reuters, indicated that the US has presented an extensive list of stringent requirements in its tariff negotiations with Vietnam, including suggestions that could pressure Vietnam to decrease its dependency on Chinese industrial imports.