Vietnam Exports Cross $345 Billion, Footwear Sector Gains Fresh Momentum

Vietnam’s export sector is gaining momentum as production improves, year-end orders increase and global demand remains strong. Total trade crossed $712 billion by August 15, raising expectations of continued double-digit export growth in 2026.

According to the Customs Department, exports reached about $345.4 billion during the year to August 15, while imports stood at $367.3 billion. Higher imports are being driven partly by growing demand for raw materials, machinery and components needed for manufacturing.

The footwear sector is also benefiting from the stronger export environment. Footwear exports generated around $975 million in the first half of August, while textile and garment exports reached $1.84 billion during the same period.

Vietnam’s footwear industry is expected to receive further support from stronger orders in the second half of the year, particularly as brands and retailers prepare for the major shopping season in the US and Europe.

The broader textile and garment sector exported around $27 billion in the first seven months, up 2.67%. The industry is working to increase domestic sourcing of fabrics and accessories, which could improve localisation and help manufacturers make better use of free trade agreements.

Across manufacturing, companies are also moving towards higher-value production, better product quality and greater use of technology.

With overall exports rising 21.7% in the first seven months, analysts expect Vietnam to maintain strong export growth through the rest of 2026. MB Securities estimates annual export growth at 17.5-19.8%, while the Ministry of Industry and Trade expects around 15-16%, provided there are no major disruptions.