In brief
Vietnam’s trade volume climbed to $1.01 trillion in its first ten months of 2026, a record boost that includes a 27.4 percent rise in exports to roughly $499 billion, with processed industrial goods making up 87.4 percent of the figure. October alone saw a 47.6 percent jump to $122.2 billion and a trade surplus of $6.8 billion. The Ministry of Industry and Trade is drafting a strategy to raise the share of domestic firms in exports to 30 percent by 2030, and 40 percent by 2045, though how soon or whether this will be achieved remains unclear.
Vietnam’s total import‑export turnover reached an estimated $1.01 trillion in its first ten months of 2026, according to a report cited by Xinhua and the Voice of Vietnam. The figure, noted by the Ministry of Industry and Trade, represents a 32.3 percent year‑on‑year increase.
Exports themselves climbed 27.4 percent, reaching about $499 billion. The Ministry said that processed and manufactured industrial products accounted for 87.4 percent of the export value.
In October alone, Vietnam’s trade turnover hit $122.2 billion, a 47.6 percent jump over the same month a year earlier. The month’s trade surplus stood at $6.8 billion, narrowing the cumulative trade deficit for the ten‑month period to around $12.7 billion.
The Ministry of Industry and Trade is currently drafting a new import‑export strategy that will run through 2030, with a longer‑term vision leading to 2045. The strategy aims to raise the share of domestic enterprises in national exports to 30 percent by 2030 and to 40 percent by 2045.
VOV, which covered the same data, reported that the total import‑export turnover stood at $1,010.6 billion from January to October, a 32.3 percent lift from the previous year. Export volume had risen to approximately $499 billion during the same span.
The data also reflected that processed industrial products made up a majority—87.4 percent—of export value, a figure that underscores Vietnam’s growing role as a production hub in global supply chains.
Questions persist over how quickly the country will realize the stated goal of moving domestic enterprise exports into a 30 percent share by 2030 and 40 percent by 2045. Economic analysts, quoted only in passing by the Ministry’s report, have pointed out that sustaining the recent high growth rate will depend on global trade conditions and internal supply‑chain resilience.
The trade surplus recorded in October narrowed the overall deficit for the first ten months of the year to about $12.7 billion, a figure that the Ministry does not yet explain in detail. While the current negative balance of trade signals improvement, it remains unclear whether this downward trend will continue into the remaining months of 2026 or whether external shocks, such as changes in U.S. tariff policy or global commodity prices, could alter the trajectory.
In summary, Vietnam’s record trade volume showcases significant gains but also highlights unresolved questions about the durability of growth, the practical implementation of a domestic export strategy, and the broader vulnerability of its trade balance to external uncertainties.
