Vietnam records $3.16 bln in Q1 trade surplus, US remains biggest buyer

Vietnam posted a trade surplus of $3.16 billion in Q1/2025, with the U.S. being the biggest export market and China the biggest import market.

The country recorded $102.84 billion in exports, up 10.6% year-on-year. Of this, the foreign-invested sector accounted for $73.82 billion, or 71.8%, marking a 9% rise, , the General Statistics Office (GSO) reported Sunday.

Imports reached $99.68 billion, up 17%, with the foreign-invested sector contributing $62.9 billion, up 15.8%.

China was Vietnam's biggest trading partner in the quarter with a turnover of $51.3 billion, followed by the U.S. ($35.5 billion), the ASEAN ($22.2 billion), South Korea ($20.7 billion), the EU ($17.5 billion), and Japan ($12.2 billion).

The United States was Vietnam’s biggest export market with an export revenue of $31.4 billion, up 16.5% year-on-year; while China was the biggest import source with $38.1 billion, up 20.7%.

Vietnam’s trade surplus with the U.S. in January-March was $27.3 billion, up 22.1% year-on-year. Meanwhile, the country posted a $24.9 billion trade deficit with China, up 43.3%.

The FDI sector recorded a trade surplus of $10.92 billion, while the domestic sector posted a trade deficit of $7.76 billion.

For exports, Vietnam’s biggest cash earners were electronics, computers, and components with $21.1 billion, up 29.2%; phones and components with nearly $14.04 billion, up 13.6%; and apparel-textile with $8.69 billion, up 11.1%.

Regarding imports, electronics, computers, and components accounted for the biggest portion of nearly $31.64 billion, up 31.5% year-on-year; followed by machines, tools, and components with $12.64 billion, up 22.1%.

On April 2, U.S. President Donald Trump unveiled a sweeping set of reciprocal tariffs targeting over 180 economies, effective April 9. Vietnam is subject to a 46% tariff, placing it among the group of countries facing the highest tariffs.

Prime Minister Pham Minh Chinh chaired a meeting with ministries and agencies on April 4 to address the issue. The government chief ordered the immediate formation of a rapid reaction force, led by Deputy Prime Minister Bui Thanh Son.

Following the U.S. tariff announcement, Deputy Prime Minister Ho Duc Phoc departed for a business trip to the U.S. on Sunday.