February 18, 2025
HANOI – Exports to major markets declined across the board in January, according to the Ministry of Industry and Trade.
The US remains Việt Nam’s largest export market, with an estimated trade value of US$10 billion in January. However, the figure was down 2.1 per cent over the same period in 2024.
Last year, the US was also Việt Nam’s top export partner, with key exports including electronics, textiles, footwear and agricultural products.
China followed with an export value of $4.6 billion, but it was the only major market to record high growth, surging by 25.2 per cent.
Việt Nam’s total import-export turnover in January was estimated at $63.15 billion, down nearly 11 per cent from the previous month and 4 per cent year-on-year.
The primary reason for this decline was the lower number of working days in January 2025 compared to January 2024.
Specifically, total export turnover reached $33 billion, a 7 per cent decrease from the previous month. The domestic economic sector contributed 29 per cent of total exports, while the foreign-invested sector accounted for 71 per cent.
Seven product categories achieved export values exceeding $1 billion in the first month of this year, including electronics, computers and components, mobile phones and accessories, and machinery, equipment, tools and spare parts.
In terms of export structure, all three major sectors – agriculture, forestry and fisheries, processed industrial goods, and fuels and minerals – declined year-on-year, with respective decreases of 8.7 per cent, 3.4 per cent and 35.5 per cent.
However, some key export items experienced double-digit growth, including iron and steel products (up 14.1 per cent), and computers, electronic products and components (up 13.3 per cent).
The total import value in January reached $30.06 billion, down nearly 3 per cent year-on-year. Notably, three product categories recorded import values exceeding $1 billion, namely electronics, computers and components, machinery, equipment, tools and spare parts, and textiles.
China remains Việt Nam’s largest supplier of goods, with an estimated import turnover of $11.6 billion, down 2.2 per cent from the same period in 2024.