Vietnam’s Trade Surplus With US Jumps as Exports Surge and China Imports Hit Record

Vietnam’s trade surplus with the United States expanded sharply in January, rising nearly 30% year on year, as strong export growth outweighed the impact of higher US tariffs, according to official data released on Friday. The figures highlight Vietnam’s continued resilience as a key manufacturing and export hub, even amid escalating global trade tensions and closer scrutiny from Washington.

Exports from Vietnam to the United States reached $13.9 billion in January, up from $10.5 billion in the same month last year, the General Statistics Office of Vietnam reported. Although slightly lower than December’s $14.6 billion, the January figure still reflects sustained momentum following a record-breaking performance in 2025, when shipments to the US hit an all-time high. As a result, Vietnam’s trade surplus with Washington widened to $12 billion in January, compared with roughly $9.2 billion a year earlier, and remained close to December’s $12.3 billion.

The strong export performance comes despite the Trump administration’s decision to impose 20% tariffs on Vietnamese goods in August, along with warnings of even higher duties on products heavily reliant on Chinese components. Hanoi and Washington have been engaged in negotiations for months over a potential trade agreement aimed at easing tensions and addressing concerns over supply chain dependencies.

At the same time, Vietnam’s imports from China climbed to a new monthly record of $19 billion in January, up from $18.7 billion in December and $12 billion a year earlier. The surge underscores Vietnam’s continued reliance on Chinese raw materials and intermediate goods to support its export-driven manufacturing sector.

Overall, Vietnam’s total exports in January rose 29.7% year on year to $43.19 billion, while industrial production increased 21.5%. Imports jumped even faster, soaring 49.2% to $44.97 billion, resulting in a trade deficit of $1.78 billion for the month.

Other economic indicators showed steady domestic demand. Consumer prices rose 2.53% year on year, retail sales increased 9.3%, and foreign direct investment inflows reached $1.68 billion, up 11.3%. However, new investment pledges fell sharply by 40.6% to $2.58 billion, signaling some caution among future investors.