According to data released on March 6 by the National Statistics Office  under the Ministry of Finance, the total import-export turnover in February reached $63.77 billion, marking a 0.7 per cent increase from the previous month and a 32.6 per cent rise year-on-year.

For the first two months of 2025,  the total external trade turnover amounted to $127.07 billion, reflecting a 12 per cent increase compared to the same period last year, with exports rising by 8.4 per cent and imports growing by 15.9 per cent.

Specifically, on the export side, the turnover in February reached $31.11 billion, down 6.2 per cent from January. Of the export value, the domestic sector contributed $8.39 billion, a 12 per cent decline, while the foreign-invested sector (including crude oil) generated $22.72 billion, down 3.8 per cent.

However, compared to the same period last year, exports in February surged by 25.7 per cent, with the domestic sector growing by 32.8 per cent and the foreign-invested sector (including crude oil) increasing by 23.2 per cent.

Cumulatively, in the first two months of 2025, export turnover reached $64.27 billion, up 8.4 per cent year-on-year. Of this, the domestic sector accounted for $17.92 billion (or 27.9% of the total), rising by 12.8% year-on-year, while the foreign-invested sector (including crude oil) contributed $46.35 billion (or 72.1% of the total),  increasing by 6.7% year-on-year. 

During this period, 12 products recorded export values exceeding $1 billion each, collectively representing 77.7 per cent of the total export turnover. Among them, four items surpassed $5 billion each, accounting for 54.6 per cent of the total.

In terms of export structure, processed industrial goods dominated with $57.01 billion (88.7% of the total), followed by agricultural and forestry products at $5.35 billion (8.3%), seafood at $1.43 billion (2.2%), and fuel and minerals at $0.48 billion (0.8%).

On the import side, Vietnam’s total import turnover in February 2025 reached $32.66 billion, an 8.4 per cent increase from the previous month.  The domestic sector contributed $11.87 billion (up 8.7 per cent), while the foreign-invested sector accounted for $20.79 billion (up 8.1 per cent).

Year-on-year, February imports surged by 40 per cent, with domestic sector rising by 49.6 per cent and foreign-invested sector by 35.1 per cent.

For the first two months of 2025, total import turnover amounted to $62.8 billion, up 15.9 per cent compared to the same period last year. The domestic sector imported $22.8 billion, marking an 18.7 per cent increase, while the foreign-invested sector imported $40.0 billion, up 14.4 per cent.

During this period, 16 product categories recorded import values exceeding $1 billion each, accounting for 76.2 per cent of the total import turnover. Among them, two items surpassed $5 billion each, comprising 44.5 per cent of the total.

Regarding import structure, production materials made up the largest share at $58.83 billion (93.7 per cent), including machinery, equipment, and spare parts at 50.8 per cent, and raw materials, fuel, and supplies at 42.9 per cent. Consumer goods imports totaled $3.97 billion, representing 6.3 per cent of the total.

In terms of trade partners, the US remained Vietnam’s largest export market, with value reaching $19.6 billion. Meanwhile, China was Vietnam’s largest import source, with turnover totaling $23.3 billion.

Vietnam recorded a trade surplus of $17.0 billion with the US. (up 16.3 per cent year-on-year), $6.4 billion with the EU (up 19.2 per cent), and $0.5 billion with Japan—nearly ten times higher than the same period in 2024. Conversely, Vietnam posted a $15.4 billion trade deficit with China (up 36.9 per cent),  $4.6 billion with South Korea (up 20.6 per cent), and $2.1 billion deficit with ASEAN countries (up 116.8 per cent).

Overall, Vietnam’s trade balance for the first two months of 2025 showed a surplus of $1.47 billion, significantly lower than the $5.13 billion surplus recorded in the same period last year. The domestic sector posted a trade deficit of $4.87 billion, while the foreign-invested sector (including crude oil) recorded a surplus of $6.34 billion.