Business

Vietnam Exports to US Drop 3rd Straight Month
By Reuters | 05 Nov, 2025

The 20% tariffs that went into effect in August have dampened exports to the US even as overall exports grew 17.5% in October.

Vietnam's exports fell in October from a month earlier, with shipments to the U.S. dropping faster as the trade-reliant country adapts to American tariffs, according to official data released on Thursday.

The Southeast Asian nation is still in talks with Washington over a possible trade deal. In August, President Donald Trump imposed 20% tariffs on American imports of Vietnamese goods in a bid to reduce the U.S.'s sizeable trade deficit with Vietnam. 

The duties have slowed Vietnamese exports to the U.S., its largest foreign market, but the trade imbalance remains. For the first 10 months of the year, Vietnam has recorded a $111 billion trade surplus with the U.S. - pointing to another potential annual record - according to Vietnamese data, which is usually more conservative than U.S. trade figures. 

The U.S. is not releasing trade data due to an ongoing federal government shutdown. 

In October, Vietnam's overall exports fell 1.5% to $42.05 billion from September, while imports dropped 1% to $39.45 billion, the country's National Statistics Office said.

Shipments to the U.S. fell on a monthly basis by roughly 2.2% to $13.4 billion, according to the report - a third consecutive monthly drop - accelerating from a 1.4% fall in September. 

Total exports in October were 17.5% higher than a year earlier, while imports rose 16.8% on an annual basis, the data showed, showcasing the country's resilience thanks to multiple trade agreements with partners across the world. 

APPAREL DOWN, FOOTWEAR UP

Mobile phone makers were the biggest losers among sectors that are most dependent on exports to the U.S. Exports of phones to the U.S. from Vietnam fell 15.2% in October from September, extending a months-long negative trend - even though the industry is exempt from higher U.S. tariffs.

Samsung Electronics is among the largest exporters of phones to the U.S. from Vietnam.

Textile and garment exports to the U.S. fell 7% on the month while footwear shipments rose 15%, partly offsetting declining shipments in recent months. Vietnam is a major hub for Western apparel and footwear makers, including Nike and Adidas.

Vietnam's industrial output in October rose 10.8% from a year earlier and was up 2.4% from September, but flows of foreign investment dropped by more than a quarter to $2.5 billion from a month earlier.

However, investments that were newly agreed upon rose 24.2% to nearly $3 billion in October, in a sign of renewed interest from foreign multinationals, on which the country's growth is still very dependent.

Retail sales in October rose 7.2% from a year earlier, the data showed, and consumer prices were up 3.25% from a year earlier. 

(Reporting by Khanh Vu, Phuong Nguyen and Francesco Guarascio; Editing by Martin Petty, David Stanway and Thomas Derpinghaus)