Vietnam’s Import-Export Q2/2026 and Q3 update: Strong Growth, but a Shift to Trade Deficit — What Is Really Happening?

In the first half of 2026, Vietnam’s trade recorded two notable developments: Strong export growth, while the trade balance shifted into a trade deficit. Exports reached US$266.5 billion, up 21.0% YoY, while imports grew faster, reaching US$283.2 billion (+33.4%). As a result, the trade balance shifted from a US$7.7 billion surplus in the first half of 2025 to a US$16.7 billion deficit in the first half of 2026. In July and August 2026, exports grew faster than imports, helping the average monthly trade deficit gradually narrow. However, in the first eight months of 2026, Vietnam still recorded a trade deficit of approximately USD 20.5 billion.

FiinGroup’s latest Q2/2026 Import-Export Reportprovides analysis of the key growth drivers, import structure, and notable developments reflected in corporate data.

4 Key Takeaways

• Machinery and electronics accounted for the majority of export growth: Machinery, equipment, and electronic products contributed nearly 75% of export growth in the first half of 2026. Meanwhile, traditional export sectors have been affected by tariffs and origin verification requirements in the U.S. market, highlighting significant differences in growth drivers across export sectors.
• Imports grew rapidly, with the majority consisting of production inputs: Of the US$283.2 billion in imports, 94.1% comprised production inputs, including 57.6% in machinery, equipment, and components. Beyond the overall scale of imports, it is important to examine the types of goods driving import growth and their linkages to production activities.
• Electronics grew across most major markets, while textiles and wood products showed greater divergence: In the first half of 2026, electronics exports recorded growth across most major markets, including the U.S., Europe, China, South Korea, and Japan. In contrast, textiles and wood products showed more mixed performance, growing in some markets while declining in others, indicating greater divergence in growth dynamics across sectors.
• South Korean FDI remains a major link in Vietnam’s electronics trade:In the first eight months of 2026, imports from South Korea reached US$60.1 billion, up 54.1% YoY. Electronics imports alone increased by 80%, accounting for 26.9% of Vietnam’s total electronics imports, behind China at 36.7%.

Placing trade data alongside corporate financial data provides a more comprehensive view of individual business groups and supply chains.

From Trade Data to Corporate Intelligence

FiinGroup’s report goes beyond trade data by connecting corporate financial data and risk models to analyse market developments at the corporate level through FiinGate – Business Information & Analytics Platform.
FiinGate supports businesses with market analysis, company due diligence, partner and supply chain assessment, and credit decision-making.

📥 Explore the full report HERE

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