Vietnam Trade Surplus Reaches New Heights: What is the Total Trade of Vietnam in the Year 2024-25?

In recent years, Vietnam has experienced a significant increase in its trade surplus, reaching new heights and solidifying its position as a key player in the global market. With a strong focus on export-oriented growth, the country has managed to capitalize on its competitive advantages and create a favorable trade environment. But what is the total trade of Vietnam in the year 2024-25? With a trade surplus of $24.77 billion, Vietnam's total trade revenue in 2024 was 786.29 billion USD, up 15.4% from the previous year, as per the Vietnam import data and Vietnam export data. In the first seven months of 2025, Vietnam's trade surplus was $9.7 billion. Strong export growth, up 14.6% year over year, is responsible for this positive trade balance. During this time, the nation's exports were $261.8 billion. At a marginally slower rate of 17.9%, imports also grew, reaching $252.1 billion. As per the global trade data and Vietnam trade statistics, Vietnam consistently maintains a trade surplus in international trade. Let's delve into this topic further with this article on the Vietnam trade surplus.   

The Current Trade Landscape of Vietnam

Vietnam has been on a trajectory of rapid economic growth, fueled by its strong export performance. The country is known for its manufacturing capabilities, particularly in sectors such as textiles, electronics, and agriculture. As a result, Vietnam has emerged as a major exporter of goods to countries around the world. In recent years, Vietnam has also been successful in attracting foreign investment, further boosting its export potential. The country has signed numerous free trade agreements, providing its exporters with preferential access to key markets. This has helped Vietnam diversify its export destinations and reduce its reliance on any single market.

Economic Snapshot: Growth, Scale & Context

• In 2024, Vietnam’s GDP grew by 7.09%, reaching approximately USD 476.3 billion, making it one of Asia’s fastest-growing economies. Strong export-led momentum and FDI inflows (up 9.4% to about $25.35 billion) powered this growth. 

• That same year, Vietnamese exports surged 14.3% to USD 405.53 billion, while imports rose 16.7% to USD 380.76 billion, resulting in a trade surplus of USD 24.77 billion. 

• According to General Statistics Office data, in the first 11 months of 2024, total trade turnover hit USD 715.5 billion, with exports at USD 369.9 billion, imports at USD 345.6 billion, and a surplus of USD 24.3 billion. 

• Another estimate from trade data sources places Vietnam’s total merchandise trade volume in 2024 at USD 786.29 billion, aligning closely with official numbers. Exports were USD 405.53 billion and imports USD 380.76 billion, surplus USD 24.77 billion. 

These figures underline Vietnam’s export-led momentum and its continued dominance of Southeast Asia’s trade growth league table.

Vietnam Trade Trends 2025: Rising Surplus & Trade Volume

• In Q1 2025, total trade turnover stood at USD 202.52 billion, up 13.7% YoY. Exports reached USD 102.84 billion, up around 10.6%.

• Early 2025 (Jan–Feb) saw trade turnover at USD 127.07 billion, trade growing 12% YoY. Exports amounted to USD 64.27 billion (+8.4%), imports hit USD 62.8 billion (+15.9%), producing a USD 1.47 billion surplus.

• For April–June 2025, Vietnam posted a trade surplus of USD 4.41 billion, with exports up 18.0% to USD 116.93 billion and imports up 18.8% to USD 112.52 billion. GDP growth accelerated to 7.96% YoY.

These figures suggest that through mid‑2025, Vietnam’s trade surplus was continuing robust expansion, likely pushing the full‑year surplus toward its projected USD 30 billion mark. 

Vietnam’s Full-Year 2024–25 Trade Overview

2024 Final Summary

• Exports (goods & services): USD 405.53 billion, up 14.3%

• Imports: USD 380.76 billion, up 16.7%

• Trade surplus: USD 24.77 billion, down slightly from USD 28.4 billion in 2023. 

Early 2025 Snapshot

• Total trade Q1 2025: USD 202.52 billion (+13.7% YoY)

• Exports: USD 102.84 billion (+~10–11%)

• Imports: USD 99.68 billion

• Trade surplus (Jan‑Feb): USD 1.47 billion

• Surplus (Apr‑Jun): USD 4.41 billion

• By mid‑2025, combined with estimated surpluses later, Vietnam may reach or exceed its USD 30 billion trade‑surplus target.

Projected Full 2025

Vietnam’s 2025 trade surplus is forecast to land near USD 30 billion, driven by targeted export-import growth of 12%, as stated by government planning officials.

Top Traded Products Driving the Vietnam Trade Surplus

The top traded products driving the Vietnam trade surplus predominantly include electronic goods, textiles, footwear, and agricultural products. Electronics are the top traded products of Vietnam, as per the Vietnam customs export data of Electronics. These sectors have played a pivotal role in boosting Vietnam's exports and contributing to the country's trade surplus in recent years. The robust performance of these key products has not only strengthened Vietnam's position in the global market but also exemplified the country's resilience and competitiveness on the international trade stage. Let’s take a closer look at the top 10 Vietnam exports & the major products that Vietnam imports, which led to a trade surplus in 2024-25. 

Top 10 Exports of Vietnam (2024)

• Total from Top 10 exports: $253 billion

• These exports help create Vietnam’s $24.77 billion trade surplus.

Top 10 Imports of Vietnam (2024)

• Total from Top 10 imports: $240–250 billion

• Most imports are raw materials used in factories to make export goods.

Simple Explanation

• Vietnam imports parts (like electronics, fabrics, machinery), assembles products, and exports finished goods (like phones, clothes, shoes, furniture), as per Vietnam customs import data by HS code.

• That’s how it earns a big trade surplus: Exports ($405.5 billion) – Imports ($380.8 billion) = Surplus ($24.77 billion).

Vietnam Trade Surplus in the Last 10 Years: Historical Vietnam Trade Data

Drivers Behind the Surplus Explosion

Export Growth & Composition

• Exports in 2024 were led by electronics & components, garments and textiles, footwear, furniture, and seafood. 

• According to Vietnam customs data, the top export categories in 2024 included:

1. Electrical machinery & equipment – USD 121.7 billion (30% of exports)

2. Footwear – USD 25.4 billion

3. Machinery & mechanical appliances – USD 23.5 billion

4. Knit & non-knit apparel – USD 21.2B + USD 19.7B

5. Furniture/bedding – USD 14.2 billion

6. Fish/seafood – USD 9.8 billion

7. Wood & wood products – USD 6.5 billion

This industry mix demonstrates Vietnam’s rise as a global assembly hub, especially for electronics and global brands like Samsung, Apple, Nike, and textile companies.

Import Growth & Structure

• In 2024, Vietnam’s top imports were electronics/computers/components (USD 107.1 billion), machinery/tools (USD 48.9 billion), fabrics, iron & steel (USD 12.6 billion), and plastics.

• Imports largely feed manufacturing – critical inputs for Vietnam’s expanding export industries.

Major Trade Partners

• USA: Vietnam recorded a trade surplus exceeding USD 123 billion with the U.S. in 2024, its third-largest bilateral deficit behind China and Mexico. Total bilateral trade value reached USD 149.7 billion, with exports to the U.S. at USD 136.6 billion and imports from the U.S. at USD 13.1 billion. 

• Other leading export destinations include the EU, Japan, South Korea, China, and ASEAN. The U.S. remains Vietnam’s single largest export market.

Policy, FDI & Manufacturing Expansion

• Vietnam attracted rising foreign direct investment, especially in electronics and manufacturing sectors. It has become a manufacturing pivot for Apple, Samsung, and Nike. 

• A bilateral trade deal with the U.S. negotiated in mid‑2025 capped tariffs on Vietnamese goods at 20%, down from an earlier threatened rate of 46%. Friendly trade terms also include a 40% levy on transshipped Chinese goods via Vietnam. This deal also involves Vietnam buying more U.S. goods under preferential rules. 

Trade Impact on GDP & Economic Stability

• Vietnam’s trade surplus contributed toward robust GDP growth of 7.09% in 2024, accelerating further to 7.96% in Q2 2025. 

• Qatar’s planning agency expects trade and exports to grow 12% in 2025, underpinning government projections of an 8.0% GDP growth target.

• Maintaining macro stability, especially inflation control (forecast at 4.5–5.0%), exchange rate management, and prudent credit growth, are policy priorities amid trade expansion.

Challenges & Risks

U.S. trade tension & tariffs

• U.S. officials have criticized Vietnam for its large trade surplus, accusing it of transshipment practices to evade Chinese tariffs. Vietnam has pledged to curb such behavior and boost imports of U.S. goods (e.g., LNG, agricultural products), as per Vietnam trade deficit with US.

• The Trump administration imposed heavy reciprocal tariffs (initially 46%) in early 2025 before granting reprieves in exchange for trade concessions.

Import pressures

• Imports rose faster than exports in early 2025 (March–June), narrowing surpluses in some months. For example, June 2025 surplus narrowed to USD 2.83 billion, down from USD 3.2 billion YoY.

Global headwinds & competition

• Global demand volatility, supply chain shifts, and geopolitical tensions, particularly China–U.S. trade, inject uncertainty into Vietnam’s export model.

• Vietnamese export competitiveness may face pressure from neighboring export hubs (e.g., Thailand, Cambodia) and rising wage costs domestically.

Broader Trade Trajectory: By the Numbers

Summary: Vietnam Trade Data 2024–25

What’s Ahead for Vietnam Trade?

• Exports are expected to continue expanding (target +12% in 2025), especially in high-value manufacturing, electronics, semiconductors, advanced garments, and seafood.

• Improvements in trade policy (e.g., bilateral U.S. agreement reducing tariffs to 20%) provide greater predictability and reduce risk for exporters. 

• Vietnam's ability to renegotiate U.S. trade terms, commit to greater imports of U.S. goods, and clamp down on transshipment should help avoid harsher tariffs or trade penalties. 

• Exports to new markets such as Africa, Latin America, and ASEAN neighbors are growing as Vietnam diversifies beyond traditional markets. 

Risks to Monitor

• A moderation in import growth relative to exports is key to sustaining surplus margins.

• Any escalation in U.S. trade measures or disruption in global supply chains could erode export momentum as per the new Vietnam-US trade deal. 

• Rising production costs and tightening global demand in electronics or garments may flatten growth.

Conclusion and Final Verdict 

In conclusion, Vietnam's trade surplus has reached new heights, reflecting the country's strong export performance and favorable trade environment. Vietnam’s trade surplus in 2024 reached USD 24.77 billion, with total trade hitting USD 786 billion, powered by strong export growth across electronics, apparel, footwear, furniture, and seafood. Into 2025, the country continues to build momentum, surplus through mid‑year already exceeded USD 5 billion, and projections point toward a USD 30 billion surplus for the full year. GDP growth remains robust, projected at 8%, bolstered by export strength and rising FDI flows. But risk is not negligible; tariff dynamics with the U.S., accelerating imports in select periods, and global demand fluctuations remain critical to watch.

We hope that you liked our interactive data-driven blog on Vietnam trade surplus 2025. For more insights into the latest Vietnam trade data or to search live Vietnam import-export data by country, product, HS code, or company, visit VietnamExportdata. Contact us at info@tradeimex.in to get a customized database report, along with a verified list of the top Vietnam exporters & top importers in Vietnam, as per your business needs.