FX.co ★ Vietnam Trade Surplus Narrows in July

Vietnam's trade surplus in July 2025 narrowed to USD 2.27 billion, down slightly from USD 2.36 billion in the same period the previous year, as export growth lagged behind import growth. This marks the fifth consecutive month of surplus. Exports saw a year-on-year increase of 16.0%, totaling USD 42.27 billion, while imports rose by 17.8% to reach USD 40.0 billion. In the first seven months of 2025, the country recorded a trade surplus of USD 10.18 billion, with exports and imports expanding by 14.8% and 17.9%, respectively. During this timeframe, the export of processed industrial goods amounted to USD 232.37 billion, comprising 88.6% of total exports. The United States continued to be Vietnam’s largest export market, with export earnings hitting USD 85.1 billion. Meanwhile, China maintained its position as the leading source of imports, with figures reaching USD 101.5 billion. Last month, a trade agreement was signed between the US and Vietnam, in which the US agreed to impose a 20% tariff on imports from Vietnam, a reduction from the previously considered 46% levy. In 2024, exports to the US accounted for approximately 30% of Vietnam's GDP.