Exports grew by 14 per cent YoY to $180.23 billion, while imports rose by 17.5 per cent YoY to $175.56 billion during the period, resulting in a trade surplus of $4.67 billion—down from $8.71 billion in the same period last year.
The country’s exports were worth $39.6 billion in May—up by 17 per cent YoY, with foreign-invested enterprises accounting for over 72 per cent of the total and posting a 27.7 per cent YoY rise.
Cumulatively, 25 export items exceeded $1 billion in value during the five-month period, including seven items surpassing the $5-billion mark.
Processed industrial goods continued to be the key growth driver, generating nearly $153 billion in export revenue during the period—up by 14.5 per cent YoY. Textiles contributed $15.06 billion—up by 12 per cent YoY, and footwear contributed $9.75 billion—up by 11.5 per cent YoY.
The United States remained the largest market, with exports to there totalling $57.2 billion during the five-month period—up by 27.4 per cent YoY and accounting for nearly 32 per cent of the total.
The European Union ranked second with $23 billion (up by 12 per cent YoY), followed by China with $23.5 billion (up by 3.2 per cent YoY), South Korea with $11.37 billion (up by 10.6 per cent YoY) and Japan with $10.56 billion (up by 10.7 per cent YoY).
Imports rose sharply, driven by demand for production inputs. In May, import turnover reached $39.04 billion—up by 14.1 per cent YoY. For the five-month period, imports totalled $175.56 billion, with goods for production accounting for 89 per cent of the total.
Import of raw plastics, textile and footwear materials, and fabrics also saw YoY growth during the five-month period.
China remained Vietnam’s largest import partner, supplying $69.35 billion worth of goods during the period—up by 25 per cent YoY and accounting for nearly 40 per cent of total imports. South Korea followed with $23.67 billion, ASEAN with $22.28 billion, Japan with $9.67 billion, the United States with $7.2 billion and the European Union with $6.7 billion.
ALCHEMPro News Desk (DS)
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