First-half exports reached US$294.34 billion, leaving about US$255.7 billion to be exported in the second half to hit the goal.
Export momentum holds
The wider trade picture supports that ambition. Vietnam’s total import-export turnover reached US$549.69 billion in the first six months of 2026, up 27.1% year on year. Exports rose 21% to about US$266.5 billion, while imports climbed 33.4% to US$283.2 billion. That produced a trade deficit of about US$16.65 billion.
For investors, the import mix matters more than the headline deficit. Officials said import growth was driven mainly by production-related inputs, including machinery, electronics components, steel, chemicals, plastics, and materials for textiles and footwear. That pattern indicates manufacturers are building inventories and capacity for future export orders, rather than simply meeting domestic consumption.
Tran Thanh Hai of the Ministry of Industry and Trade said the import structure shows firms are preparing for production and exports. A related explanation given in the report was that higher petroleum import values were affected by geopolitical tensions and elevated energy prices.
Agriculture adds support
Agriculture remained a key buffer for the trade balance, posting a surplus of more than US$9 billion in the first half. The sector posted a surplus of more than US$9 billion in the first half, helped by major agricultural exports.
That strength gives Vietnam a broader base than manufacturing alone. Industry groups said continued market expansion and higher-value processing could support exports further.
The second half is expected to be important for shipments to major markets. That seasonal pattern could help Vietnam close the gap. The government is also using economic diplomacy, free trade agreements, faster procedures, lower logistics costs, better credit access and trade-barrier support to keep exports moving.
Vietnam is widely expected to surpass US$1 trillion in combined import-export turnover for the first time in 2026. For investors, the key marker is whether production-linked imports keep rising in step with export orders through the peak shipping season.
