Vietnam’s January 2025 Trade Report: The U.S. Emerges as the Largest Export Market

According to the latest data released by the General Statistics Office, the United States remains Vietnam’s largest export destination. In January 2025, Vietnamese exports to the U.S. reached USD 9.8 billion, with a trade surplus of USD 8.5 billion. Meanwhile, China was the country from which Vietnam imported the most, with imports totaling USD 11.6 billion.

Key Highlights:

• Export Markets:

  • Exports to the U.S. totaled USD 9.8 billion, making it the top export market.
  • The U.S. trade surplus in January was USD 8.5 billion, reflecting a 3.5% decline compared to the same period last year.
  • In contrast, exports to the European Union reached USD 2.7 billion (a 17.9% drop), and exports to Japan reached USD 0.3 billion (an increase of 16.4%).

• Import Markets:

  • Imports from China were USD 5.8 billion, a decrease of 19.6% from the previous month.
  • Imports from South Korea reached USD 1.9 billion, up by 2.8%.
  • Imports from ASEAN countries totaled USD 1.2 billion, representing a remarkable increase of 241.3%.

Note: January 2025 included the Tet holiday, resulting in five fewer working days compared to January of the previous year.

Overall Trade Performance:

During January 2025, the total value of imports and exports reached USD 63.15 billion—down 10.5% from the previous month and 3.5% year-on-year. Exports decreased by 4.3%, while imports dropped by 2.6%, yielding an overall trade surplus of USD 3.03 billion.

• Exports:
  The export value was USD 33.09 billion, a 6.9% decline from the previous month. This figure comprises two main segments:

  • The domestic economic sector accounted for USD 9.49 billion (a decline of 11.2%).
  • The FDI-related sector (including crude oil) reached USD 23.6 billion (a decline of 5%).

  Compared with the same period last year, total exports declined by 4.3%, with domestic exports falling by 0.9% (making up 28.7% of total exports) and FDI-related exports dropping by 5.5% (accounting for 71.3%). Moreover, seven export product categories each exceeded USD 1 billion, representing 67.9% of the overall export value.

  In terms of product groups:

  • Fuels and minerals contributed USD 0.22 billion (0.7%).
  • Processed industrial goods reached USD 29.43 billion (89%).
  • Agricultural and forestry products amounted to USD 2.65 billion (8%).
  • Seafood exports totaled USD 0.77 billion (2.3%).

• Imports:
  Total imports were USD 30.06 billion, a 14.1% drop from the previous month. Within this total:

  • Domestic sector imports were USD 10.89 billion, down 22.2%.
  • FDI-related imports reached USD 19.17 billion, a decrease of 8.7%.

  Year-on-year, overall import values fell by 2.6%, with domestic imports declining by 3.3% and FDI-related imports by 2.2%. Additionally, three import categories exceeded USD 1 billion each, representing 49.3% of the total import value.

  Breaking down the import groups:

  • Production materials dominated imports at USD 28.26 billion, accounting for 94% of the total. Within this group, machinery, equipment, and spare parts made up 52%, while raw materials and minerals accounted for 42%.
  • Consumer goods comprised USD 1.8 billion, or 6% of total imports.

Reference source: The Internet