According to the General Department of Vietnam Customs, in March 2025, Vietnam’s export turnover reached USD 38.51 billion, an increase of 23.8% year-on-year, bringing the total export value for the first quarter of 2025 to USD 102.84 billion, up 10.6% compared to the same period in 2024.
1. Strong Export Growth Across Key Markets
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The United States remained Vietnam’s largest export market in Q1 2025, with a turnover of USD 31.4 billion, up 22% year-on-year, accounting for 31% of Vietnam’s total exports.
Notably, several major export categories to the U.S. recorded strong growth compared to the same period last year:
| Export Category | Export Value (USD) | Year-on-Year Growth | Increase (USD) |
|---|---|---|---|
| Computers, electronic products & components | 7.47 billion | +48.3% | +2.43 billion |
| Machinery, equipment, tools & spare parts | 5.26 billion | +25.3% | +1.06 billion |
| Textiles and garments | 3.79 billion | +15.2% | +499 million |
| Wood and wood products | 2.14 billion | +12.9% | +244 million |
| Footwear | 1.97 billion | +15.6% | +266 million |
However, exports of some key items to the U.S. declined:
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Phones and components: USD 2.75 billion, down 10.2% (−USD 312 million).
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Iron and steel: USD 209 million, down 47.7% (−USD 190 million).
2. China and South Korea Follow as Major Trade Partners
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China ranked second, with export turnover of USD 13.17 billion, up USD 162 million compared to the same period in 2024.
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South Korea ranked third, reaching USD 6.76 billion, up 6.4% year-on-year.
3. Exports to the EU and ASEAN Maintain Positive Momentum
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Exports to the European Union (EU-27) reached USD 13.71 billion, up 12.9% year-on-year.
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Exports to the ASEAN region totaled USD 9.17 billion, an increase of USD 137 million from Q1 2024.
4. Impressive Surge in Exports to Argentina
A remarkable highlight in Q1 2025 was the sharp increase in exports to Argentina.
Total export value to this market reached USD 261 million, nearly five times higher (up USD 207 million) compared to the same period in 2024.
The surge was mainly driven by phone and component exports, which reached USD 132 million — 29 times higherthan the USD 4.5 million recorded a year earlier.
5. Outlook
Vietnam’s Q1 2025 export growth reflects a strong recovery in global demand, especially from key markets such as the U.S., EU, and ASEAN.
The continued implementation of free trade agreements (FTAs), improved production capacity, and enhanced supply chain resilience are expected to sustain export growth throughout 2025.