Vietnam reported a trade deficit of $1.55 billion in February 2025, following a $3.02 billion surplus in January. Total import-export turnover reached $63.77 billion, reflecting a 32.6% year-over-year increase due to a higher number of working days. While exports rose 25.7%, imports grew at a sharper rate of 40%, reinforcing Vietnam’s role as a key sourcing hub amid global supply chain realignments.
Vietnam’s Export Trends: Key Growth Sectors & Vietnam Sourcing Insights
Vietnam’s export turnover stood at $31.11 billion in February 2025, marking a 6.2% month-over-month decline but a 25.7% year-over-year increase. This trend underscores the country’s expanding role in global supply chains, particularly in high-growth sectors such as:
– Electronics, computers and components: $6.5 billion (+38.9% YoY)
– Phones and accessories: $4.4 billion (+11.3% YoY)
– Machinery, equipment and spare parts: $3.8 billion (+29.5% YoY)
– Textiles and garments: $2.4 billion (+20.7% YoY)
– Footwear: $1.6 billion (+33.5% YoY)
– Wood and wooden products: Over $1 billion (+33.9% YoY)
Why Vietnam Sourcing Matters for Global Buyers
Vietnam’s rising export volumes offer an opportunity for global buyers to diversify supply chains and reduce dependence on China. The country is emerging as a competitive alternative in manufacturing, thanks to:
– Lower labor costs compared to China and other ASEAN nations
– Strong trade agreements (CPTPP, EVFTA, RCEP)
– Expanding production capabilities in electronics, textiles and industrial goods
However, sourcing from Vietnam requires thorough supplier verification and quality control.
Import Growth & Rising Demand for Industrial Inputs
Vietnam’s import turnover reached $32.66 billion in February 2025, reflecting an 8.4% monthly increase and a 40% annual surge. This rapid growth signals increasing domestic demand for raw materials and intermediate goods, particularly in industrial production.
Key imported Vietnam Sourcing categories exceeding $1 billion included
– Electronics, computers and components: $10.4 billion (+46.9% YoY)
– Machinery, equipment and spare parts: $3.8 billion (+46.8% YoY)
– Plastics: $1.1 billion (+67.2% YoY)
– Iron and steel: Over $1 billion (+26.6% YoY)
– Fabrics: Over $1 billion (+30.5% YoY)
The Impact on Vietnam’s Manufacturing Sector
The sharp increase in imports indicates strong industrial production growth, particularly in:
– Electronics assembly (Samsung, Intel, Apple suppliers expanding operations)
– Automotive and machinery manufacturing
– Textile and apparel production, supported by growing exports to the EU and U.S.
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Vietnam’s Major Trade Partners: Managing Risks & Opportunities
Vietnam’s top trade partners in early 2025 underscore the country’s strategic role in global trade:
– China: $31.2 billion in total trade (+14% YoY), with a $15.4 billion trade deficit (+36.9% YoY), reflecting reliance on Chinese raw materials.
– The U.S.: $22.2 billion in trade (+16.6% YoY), generating a $17 billion surplus (+16.3% YoY), reinforcing Vietnam’s strong export market position.
– ASEAN: $13.5 billion in trade, with Vietnam posting a $2.1 billion deficit (+116.8% YoY), emphasizing regional supply chain interdependence.
– South Korea: $13.4 billion in trade (+9.9% YoY), with a $4.6 billion deficit (+20.6% YoY), highlighting increased imports of industrial components.
– The EU: $11.2 billion in trade, maintaining a $6.3 billion surplus (+19.2% YoY), making it a key market for Vietnam’s high-value exports.
Economic Growth & Trade Expansion Strategies
Vietnam’s broader economic outlook reinforces its position as a leading manufacturing and sourcing hub:
– Industrial Production Index (IIP): +7.2% YoY, with February alone surging +17.2%.
– Retail & consumer spending: +9.4% YoY, driven by a 16.4% increase in travel & tourism revenue.
– Foreign direct investment (FDI): $6.9 billion in registered FDI (+35.5% YoY), underscoring Vietnam’s manufacturing appeal.
With increasing global trade uncertainties, businesses must secure resilient sourcing strategies.
Vietnam Sourcing Co: A Strategic Partner for Global Buyers
As Vietnam sets its sights on a 12% export growth target in 2025, global businesses must adapt to an increasingly dynamic sourcing landscape. Success requires deep market insight, strong supplier networks and precise execution. Vietnam Sourcing Co empowers international buyers with a strategic sourcing advantage through:
✅ Comprehensive Supplier Verification & Compliance Audits
✅ Tailored Product Sourcing & Negotiation Support
✅ Rigorous Quality Control & Optimized Logistics
✅ Data-Driven Market Intelligence for Smarter Sourcing Decisions
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Conclusion
Vietnam’s evolving trade landscape, driven by surging exports and increasing demand for industrial imports, positions the country as a key player in global supply chains. The 40% year-over-year growth in imports signals a rapidly expanding manufacturing ecosystem, while strong trade partnerships with the U.S., EU and ASEAN reinforce its role as a sourcing powerhouse. For global businesses, navigating Vietnam’s dynamic sourcing environment requires more than just access to suppliers, it demands strategic expertise, deep market knowledge and a trusted local partner. How can your business capitalize on Vietnam’s sourcing potential? The right partnerships make all the difference. Whether you’re expanding production capacity, optimizing procurement costs or securing high-quality suppliers, Vietnam Sourcing Co ensures seamless, risk-free sourcing with end-to-end solutions tailored for global buyers.
