HANOI: Vietnam’s exports rose 19.1% from a year earlier in the first quarter of 2026 to $122.93 billion, according to official data released on April 4, extending a strong start to the year for one of Southeast Asia’s most trade-dependent economies. Imports increased at a faster 27% pace to $126.57 billion, leaving the country with a trade deficit of $3.64 billion for the January to March period. In March alone, exports climbed 20.1% to $46.44 billion, while imports rose 27.8% to $47.11 billion, producing a monthly trade deficit of $670 million.
The latest quarter-end figures showed export growth outpacing the earlier mid-March customs snapshot that had pointed to an increase of just over 17%, confirming that shipments accelerated toward the end of the quarter. Electronics and high-value manufactured goods remained the main drivers. Shipments of computers, electronic products and components surged by more than 40% from a year earlier, while phones and parts rose 23.1% and machinery, equipment, tools and spare parts increased 18.2%. The data reinforced Vietnam’s position as a major manufacturing and assembly base for global technology and industrial supply chains.
Export gains were also spread across agriculture, fisheries and other resource-based industries, though at a slower pace than in electronics. The agriculture, forestry and fisheries sector posted export revenue of $16.69 billion in the first quarter, up 5.9% from a year earlier, and generated a trade surplus of $4.78 billion. Agricultural products accounted for $8.93 billion, up 4.1%, while livestock products recorded the fastest growth, jumping more than 54% to $197.7 million. Seafood exports rose 13.3% to $2.62 billion, while forestry products edged lower amid softer demand in some overseas markets.
Export Engines Remain Concentrated In Technology And Manufacturing
The trade data came alongside broader economic indicators that pointed to solid, though slower, momentum at the start of 2026. Gross domestic product expanded 7.83% in the first quarter from a year earlier, below the 8.46% pace recorded in the final quarter of 2025 but above the 7.05% growth rate posted in the same period last year. Industrial production in March rose 6.9% from a year earlier. Consumer prices increased 4.65% in March, with transport costs up 10.81%, highlighting the pressure that higher fuel and input costs continued to place on businesses and households.
Domestic demand and capital inflows also remained firm during the quarter, adding support to the export-led economy. Retail sales in the first quarter rose 10.9% from a year earlier, while realized foreign investment reached $5.41 billion, up 9.1%. Registered foreign investment, a measure closely watched as an indicator of future project pipelines, rose 42.9% to $15.2 billion. Together, those figures showed that Vietnam entered the second quarter with strong trade activity, resilient consumer spending and continued investor interest, even as import costs climbed and the merchandise trade balance moved into deficit.
Trade Growth Broadens But Import Bill Rises Faster
The first-quarter trade figures brought Vietnam’s total import-export turnover to about $249.5 billion, up roughly 23% from a year earlier, underlining the scale of the country’s integration into global commerce. The data also showed how strongly export growth remained tied to a relatively narrow group of products, especially electronics, phones and machinery. That concentration has helped drive rapid gains when external demand is strong, but it also means quarterly trade performance is closely linked to global manufacturing cycles, component flows and shipping conditions across major export markets.
For now, the latest data showed that export momentum remained robust through the end of March, even as higher imports outweighed the rise in outbound shipments. The combination of stronger exports, faster import growth and continued gains in retail sales and investment pointed to an economy still supported by manufacturing, trade and domestic consumption, while facing a heavier import bill than a year earlier. Official first-quarter figures showed Vietnam’s export sector remained a central pillar of growth, with technology shipments and broad-based trade activity setting the pace at the start of 2026. – By Content Syndication Services.
