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Vietnam’s trade surplus narrowed to USD 3.72 billion in August 2025, down from USD 4.05 billion in August 2024, as exports grew at a slower pace than imports. Exports rose 14.5% year-on-year to USD 43.39 billion, while imports surged 17.7% to USD 39.67 billion. In the first eight months of 2025, Vietnam recorded a trade surplus of USD 13.99 billion, with exports and imports increasing by 14.8% and 17.9%, respectively. During this period, the United States remained Vietnam’s largest export market, with turnover reaching USD 99.1 billion. China continued to be Vietnam’s top source of imports, totaling USD 117.9 billion. In July, the US and Vietnam signed a trade agreement under which the US will impose a 20% tariff on imports from Vietnam — a significant reduction from a previously threatened 46% levy. In 2024, shipments to the US accounted for approximately 30% of Vietnam’s GDP.