Vietnam’s trade turnover reached a new height in July, according to the latest data from the General Statistics Office (Ministry of Finance) and the Customs Agency. The country’s total import and export turnover reached USD 82.27 billion in July, an increase of 8.0% compared to the previous month and 16.8% over the same period last year. Cumulatively, in the first seven months of 2025, Vietnam’s import and export turnover reached USD 514.7 billion, up 16.3% over the same period last year, of which exports increased by 14.8% and imports by 17.9%. The trade balance of goods recorded a surplus of USD 10.18 billion.
In terms of exports, the report showed that the export turnover of goods in July reached USD 42.27 billion, up 6.9% compared to the previous month. The domestic economic sector achieved USD 8.95 billion, up 3.5%, while the foreign-invested sector (including crude oil) reached USD 33.32 billion, up 7.9%. Compared to the same period last year, the export turnover of goods in July increased by 16.0%, with the domestic economic sector decreasing by 10.3% and the foreign-invested sector (including crude oil) increasing by 25.9%.
Accumulated in the first seven months of 2025, export turnover of goods reached USD 262.44 billion, up 14.8% over the same period last year. The domestic economic sector reached USD 67.48 billion, up 6.7% and accounted for 25.7% of total export turnover, while the foreign-invested sector (including crude oil) reached USD 194.96 billion, up 17.9% and accounted for 74.3%.
In the first seven months of 2025, 28 commodity groups recorded an export turnover of over USD 1 billion, accounting for 91.7% of the total export turnover (including 9 groups with an export turnover of over USD 5 billion, accounting for 72.3%).
Regarding import and export markets in the first seven months of 2025, the report showed that the United States was Vietnam’s largest export market, with a turnover of USD 85.1 billion. In the first seven months of 2025, Vietnam recorded a trade surplus of USD 74.6 billion with the United States, an increase of 28.6% over the same period last year.
Specifically, in July 2025, Vietnam exported over USD 14.2 billion worth of goods to the United States. There were four groups of goods that recorded an export turnover of over USD 1 billion. Computers, electronic products, and components had the highest export turnover, reaching USD 3.7 billion. This was followed by machinery, equipment, tools, and other accessories, with an export turnover of nearly USD 2 billion in July. The third and fourth highest export turnovers were from textiles and garments, and telephones, respectively, with turnovers of USD 1.8 billion and USD 1.1 billion.
Top 10 exports from Vietnam to the US in July 2025. Source: Vietnam Customs
Accumulated in the first seven months of 2025, the United States continued to be Vietnam’s largest export market, with high turnover in many key commodity groups. Specifically, computers, electronic products, and components were the leading export group from Vietnam to the United States, reaching more than USD 22.2 billion. With a turnover of over USD 13 billion in the first seven months of 2025, machinery, equipment, tools, and other accessories were the second-largest export group from Vietnam to the United States. Textiles and garments ranked third, with a turnover of USD 10.29 billion.
Additionally, other groups such as products from plastics (USD 2.13 billion), bags, wallets, suitcases, hats, umbrellas, and seafood (USD 1.05 billion) also made significant contributions.
The 20% tariff rate for Vietnam will take effect on August 7
In the early morning of August 1, 2025 (Vietnam time), the White House published a Presidential Proclamation on the adjustment of retaliatory tax rates, whereby the United States decided to adjust the retaliatory tax rates for 69 countries and territories listed in Appendix I. According to this Appendix, the retaliatory tax rate for Vietnam is reduced from 46% to 20%.
According to the proclamation issued by the US government, the 20% tariff rate for Vietnam will take effect on August 7, simultaneously with the imposition of tariffs on other countries. However, the old tax rate under Proclamation 14257 will still apply to goods that have been loaded onto the ship, are in transit, and are cleared before 12:01 am on October 5, 2025.
In its press release, the Ministry of Industry and Trade affirmed that in the coming time, the two sides will continue to discuss and implement the next steps, aiming to complete the trade agreement on a reciprocal basis, with openness, constructiveness, equality, and respect for each other’s independence, autonomy, political system, and mutual benefit, taking into account each other’s development level.
Along with this, the two sides will also strive to promote stable economic, trade, and investment relations, harmonizing interests and commensurate with the Vietnam-US Comprehensive Strategic Partnership.
Vietnam Achieves a $10.18 Billion Trade Surplus in the First Seven Months of 2025
In July, the total trade of goods reached 82.27 billion USD, an increase of 8.0% compared to the previous month and a surge of 16.8% from the same period last year. For the first seven months of 2025, the total trade of goods amounted to 514.7 billion USD, reflecting a significant 16.3% year-on-year increase. This comprised a 14.8% rise in exports and an even more robust 17.9% climb in imports, resulting in a favorable trade balance surplus of 10.18 billion USD.
The Green Gold Rush: How Vietnam’s Agro-Industry Reaps a $40 Billion Windfall
The Ministry of Agriculture and Environment reported that the export turnover of agricultural, forestry, and aquatic products in July 2025 is estimated at 6.01 billion USD, a surge of 13.4% compared to the same period in 2024.
“US Imposes 20% Tariffs on Vietnamese Goods: Businesses and Experts Hope for Further Reductions”
The 20% tax rate, despite being a significant reduction from the initial proposed rate of 46%, still leaves experts and businesses hopeful for further negotiations to drive it down even lower.
The Green Revolution: 2024 Sees a Stellar Rise in Agricultural Exports
2024 was a landmark year for Vietnam’s agricultural, forestry, and seafood exports, with a record turnover of 62.5 billion USD, an impressive 18.7% increase from 2023. This remarkable growth, the highest in two decades, was driven by strong performance across key agricultural products, including rice, coffee, fruits and vegetables, timber, cashew nuts, and seafood, all of which experienced significant increases.
The Top 10 Moments in Industry and Trade for 2024
Based on the votes from units under the Ministry of Industry and Trade and the industry’s press agencies, on December 23, 2024, the Ministry of Industry and Trade announced the top 10 standout events of the industry in 2024.
