Vietnam: Merchandise exports grow at a slower rate in July
Latest reading: Merchandise exports growth rose 16.6% year on year in July, following June’s 17.4% increase, as front-loading activities continued ahead of U.S. tariffs. Meanwhile, merchandise imports soared 18.1% over the same month last year in July (June: +20.4% yoy), marking the weakest reading since January 2025.
As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 2.3 billion surplus in July (June 2025: USD 2.9 billion surplus; July 2024: USD 2.4 billion surplus). Lastly, the trend pointed down, with the 12-month trailing merchandise trade balance recording a USD 19.5 billion surplus in July, compared to the USD 19.6 billion surplus in June.