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Việt Nam’s trade with the European Union (EU) remained resilient in the first five months of 2026, with exports posting robust double-digit growth and the country’s trade surplus with the bloc climbing 11.3 per cent year-on-year to US$18.1 billion.

HÀ NỘI — Việt Nam’s trade with the European Union (EU) remained resilient in the first five months of 2026, with exports posting robust double-digit growth and the country’s trade surplus with the bloc climbing 11.3 per cent year-on-year to US$18.1 billion, despite slowing economic activity in Europe.

Trade between Việt Nam and the EU maintained momentum during the January-May period, supported by the EU-Việt Nam Free Trade Agreement (EVFTA) and sustained demand for key Vietnamese exports, even as the EU grappled with inflationary pressures and sluggish consumer spending.

Latest data from the Customs Department showed bilateral trade reaching $36 billion during the five-month period.

Exports to the EU rose 16.9 per cent from a year earlier to $26 billion, while imports increased 21.6 per cent to nearly $8 billion, leaving Việt Nam with a trade surplus of about $18.1 billion.

Strong performances were recorded across major export categories, including electronics, garments and textiles, wood products and agricultural commodities. Imports from the EU were concentrated on machinery, equipment and production technologies.

The bloc’s growing contribution also helped lift Việt Nam’s total trade turnover to more than $445 billion in the first five months, up 25 per cent year-on-year.

Việt Nam is currently the EU’s largest trading partner in ASEAN.

In 2025, bilateral trade approached $74 billion, with Vietnamese exports to the bloc reaching $56.2 billion, up 8.6 per cent, while imports rose 5.4 per cent to $17.6 billion. The figures translated into a record trade surplus of $38.6 billion.

Last year, computers, electronic products and components led export earnings at $10.89 billion, followed by machinery, equipment and spare parts at $7.42 billion, and phones and components at $6.9 billion, all posting growth from the previous year.

The Ministry of Industry and Trade attributed the strong performance largely to the EVFTA, which has significantly expanded market access for Vietnamese goods in the EU’s nearly 500-million-consumer market.

Rising exports and a steadily widening trade surplus have further strengthened Việt Nam’s role in global supply chains.

Since the agreement took effect in August 2020, bilateral trade has surged.

Bilateral trade turnover increased from $49.7 billion in 2020 to $68.4 billion in 2024 before approaching $74 billion in 2025. Over the same period, Việt Nam’s exports to the EU grew from $35.1 billion to $56.2 billion, while its trade surplus nearly doubled from $20.5 billion to almost $39 billion.

The sustained growth highlights the Việt Nam – EU economic partnership as one of the country’s most stable and successful trade relationships.

European businesses increasingly regard Việt Nam as a strategic link in global supply chains thanks to its strong FDI attraction, diversified export markets and extensive network of free trade agreements.

Raising supplier standards

The steady rise in exports and trade surplus since the EVFTA entered into force reflects Vietnamese businesses’ growing ability to meet the EU’s stringent quality and regulatory requirements. Many products have effectively leveraged tariff preferences under the agreement to generate export revenues exceeding $1 billion, while local firms have deepened their integration into the supply chains of European multinational corporations.

At the same time, exporters face mounting pressure as the EU tightens rules on environmental protection, carbon emissions, product traceability and corporate responsibility.

Đậu Anh Tuấn, vice decretary-general and director of the Legal Department at the Vietnam Chamber of Commerce and Industry (VCCI), said globalisation continues to create opportunities, but businesses must also adapt to increasingly demanding standards on sustainability, transparency and accountability.

The EU currently accounts for around 13 per cent of Việt Nam’s total exports and is becoming an increasingly important destination as the country seeks to diversify markets amid growing global trade uncertainties.

According to the Ministry of Industry and Trade, the EU trade landscape is being reshaped by three major trends: US tariff policies, green transition and digital transformation. Together, these forces are redefining global supply chains, import regulations and supplier expectations.

To stay competitive, many textile and garment manufacturers are accelerating investments in green production and sustainable development.

Garco 10 Corporation, for example, is investing heavily in modern equipment, digitalisation and smart manufacturing lines at its new factory in Hưng Yên province.

More than VNĐ142 billion ($5.39 million) has been earmarked for equipment upgrades and digital transformation, alongside nearly VNĐ40 billion for construction and VNĐ29.5 billion for additional investment projects.

Trần Ngọc Quân, trade counsellor at the Vietnam Trade Office in Belgium and the EU, said Vietnamese enterprises must proactively align with the requirements of the European Green Deal while advancing circular economy models, sustainable production and responsible consumption to secure long-term growth in the European market.

VOV.VN - Vietnam's imports from Japan rose strongly during the five-month period of 2026 to US$11.28 billion, up 16.7% year-on-year, with technology-related products posting the strongest growth as companies stepped up purchases to fulfill previously signed orders.

According to the Vietnam Customs, Vietnam's imports from Japan stood at US$2.28 billion in May 2026, up 20.44% from a year earlier. Cumulative imports in the January-May period reached US$11.28 billion.

The import structure reflects sustained demand for production-related goods. Computers, electronic products and components remained the largest import category, totaling US$4.25 billion, up 37.14% year-on-year. Machinery, equipment, tools and spare parts ranked second, with imports exceeding US$2.11 billion.

Meanwhile, imports of several basic industrial materials and products declined from a year earlier, including iron and steel, ferrous scrap and fabrics. Petroleum-derived products recorded the sharpest increase, surging 445% year-on-year. Growth was also seen in completely built-up automobiles, auto parts and seafood.

With the positive momentum seen since the beginning of the year, Vietnam's imports from Japan are projected to maintain double-digit growth throughout 2026. Electronic components, computers and high-tech machinery are expected to remain key drivers of import demand, supported by rising manufacturing and export-oriented assembly activity in the months ahead.

Higher imports of technology products and machinery are also intended to meet the needs of Japanese manufacturers operating in Vietnam. Japan is currently Vietnam's third-largest foreign investor, with about 5,630 projects and total registered capital surpassing US$79.4 billion.

If Vietnamese businesses continue to make effective use of bilateral and multilateral trade agreements, including the Vietnam-Japan Economic Partnership Agreement (VJEPA) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the flow of high-quality goods from Japan to Vietnam could remain steady and reach a new high by the end of this year.

The growth in bilateral trade reflects the stable and sustainable development of economic ties between the two countries, while reaffirming Japan's position as one of Vietnam's leading trading partners in the region and globally.

Vietnamese Prime Minister Le Minh Hung met with Sergei Kudryashov, CEO of Russian state oil company Zarubezhneft, on Wednesday and expressed support for expanding bilateral cooperation in oil and gas, offshore wind power and other energy projects.

The meeting took place on the sidelines of the ASEAN-Russia Summit commemorating the 35th anniversary of diplomatic relations between the two sides in Kazan, the capital of Russia's Republic of Tatarstan.

Zarubezhneft has worked with state-owned Petrovietnam for more than four decades through two joint ventures, Vietsovpetro in Vietnam and Rusvietpetro in Russia, focusing on oil and gas exploration and production.

PM Hung praised Zarubezhneft's contribution to energy cooperation between the two countries and reaffirmed that collaboration with Russia remains a priority in Vietnam's energy strategy.

He voiced support for the company to study additional investments and sign new oil and gas contracts for open offshore blocks in Vietnam, provided projects ensure commercial viability, balance the interests of stakeholders, and comply with Vietnamese law. He also encouraged the company to explore opportunities for joint projects in third countries.

The cabinet leader called on Petrovietnam and Zarubezhneft to effectively implement amended intergovernmental agreements governing Vietsovpetro and Rusvietpetro, as well as agreements expanding geological exploration and hydrocarbon production activities on Vietnam's continental shelf and in Russia.

Hung urged Zarubezhneft to consider long-term and stable commercial cooperation with Vietnamese energy companies to strengthen Vietnam's energy security and support economic development.

He encouraged closer collaboration with Petrovietnam and Vietsovpetro to accelerate proposals for establishing wind power equipment manufacturing facilities and developing an offshore wind supply chain in Vietnam.

The prime minister asked Zarubezhneft to expand the operations of Rusvietpetro in Russia by enlarging its production areas and acquiring additional oil and gas fields to maximise the use of existing infrastructure, technology and personnel.

Kudryashov said he welcomed the Vietnamese government's support and Zarubezhneft would continue working closely with its Vietnamese partners to implement the strategic directions discussed during the meeting.

He updated PM Hung on the performance of the company's projects in both Vietnam and Russia and outlined its future development plans.

The CEO said Zarubezhneft would continue implementing agreements signed during the May 2025 visit to Russia by Vietnam's Party chief and President To Lam. He added that the company is currently the largest Russian supplier of coal to the Vietnamese market.

Highlighting the significant potential for further cooperation, Kudryashov proposed expanding collaboration into offshore wind power, renewable energy and joint projects in third countries, particularly in markets where Vietnam has established a strong reputation.

PM Hung reaffirmed that the Vietnamese government would continue creating favorable conditions for Zarubezhneft and other Russian energy companies to operate and invest effectively in the country.