Vietnam posts record US export earnings despite tariff headwinds

Vietnam’s exports to the US hit a record US$126 billion in the first ten months of the year, already surpassing the full-year 2024 total, as shipments of electronics, textiles and agro-aquatic products surged despite mounting tariff pressures.

New customs data show that exports to the US rose 28% year-on-year, reinforcing the US as Vietnam’s largest export market with more than 30% of total outbound shipments and a decisive influence on the 2026 trade outlook.

Shipments to other major markets also increased, including nearly US$57 billion to China, US$46.5 billion to the EU, almost US$31.8 billion to ASEAN, up 13.9%, 8.3% and 3.1%, respectively.

Exports to South Korea reached US$23.8 billion, Japan US$22 billion and Hong Kong US$14.3 billion, up 12%, 8.8% and 38.6%, respectively.

Manufacturing remained the primary engine of growth. Electronics posted the strongest gains in a decade, with exports of computers and components soaring nearly 78% to more than US$34 billion, driven by demand for AI servers, tech hardware and semiconductor parts.

Machinery and equipment climbed 9.2% to $19.6 billion, while phones and components inched up to $9 billion after two stagnant years. Textiles, a traditional strength, rebounded to $14.8 billion, up 11.4%.

A standout shift came from toys and sporting goods, which surged more than 25% from $1.47 billion to $5.2 billion as US buyers moved orders out of China.

Consumer goods also maintained momentum, with wood and wood products reaching $7.8 billion (up 6%) and vehicles and parts rising nearly 11%.

Agricultural and aquatic exports also picked up sharply. Fruit and vegetables jumped 58.5%, coffee surged over 60% on higher global prices, and rubber products rose 51%. Aquatic exports recovered with 7.5% growth as US inventories fell and demand for premium products returned.

Notably, textiles remained resilient even under new tariffs imposed from September. Most major firms posted strong third-quarter results.

Vietnam National Textile and Garment Group (Vinatex) earned over VND359 billion ($13.6 million) in profit, up around 56%, thanks to accelerated shipments ahead of the deadline. The company’s nine-month post-tax profit reached more than VND943 billion ($35.8 million), a 132% increase.

Song Hong Garment JSC also reported record profits, posting nearly VND201 billion ($7.6 million) in after-tax earnings in the third quarter, up 54%. In the first nine months of the year, its profit reached VND470 billion ($17.8 million), an increase of 74% compared to the same period last year.

Industry insiders said this year’s positive performance reflects a major global supply chain shift. With US inflation easing, interest rates stabilizing and inventory cycles nearing completion, US buyers have resumed placing new orders.

Looking to 2026, prospects remain bright but accompanied by rising challenges. US trade-remedy investigations are increasing, particularly for wood, metals and textiles, along with stricter environmental rules and traceability requirements.

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