Vietnam swings to trade surplus, eyes sub-$10 billion deficit target

Vietnam's import-export turnover surged to $117.69 billion in September, representing a 7.3% month-on-month increase and a robust 42.4% year-on-year jump, according to official trade data. The September performance marked a significant inflection point, with the country posting a trade surplus of $1.27 billion and ending a nine-month streak of consecutive deficits.

The trade swing reflects robust export momentum across Vietnam's key sectors, underpinned by resilient global demand for electronics, textiles, and manufactured goods. Manufacturing and trade activities have emerged as critical pillars supporting broader economic growth, analysts said, with Vietnam's export competitiveness bolstered by diversification away from China-dependent supply chains.

The improvement in trade dynamics reinforces the government's confidence in achieving its annual trade deficit target of below $10 billion. Policymakers have emphasized the importance of maintaining balanced trade as a means to stabilize the macroeconomic environment and support currency stability amid global economic headwinds.

Bilateral trade relationships have also gained momentum, with Vietnam-Malaysia commerce expanding 43.4% over the first eight months of the year, signaling deepening regional commercial ties. Economists note that sustained export growth will be essential for Vietnam to maintain its trajectory of trade balance improvement throughout the remainder of the year.