HCMC – Vietnam had a trade deficit of US$10.6 billion with South Korea in the first quarter of this year, up nearly 50% year-on-year, official data showed.
Vietnam’s imports totaled US$126.57 billion in the first three months of 2026, up 27% compared to the same period last year, according to the National Statistics Office. Imports from South Korea rose 34.5% to US$18.7 billion.
The country posted a trade deficit of US$3.64 billion in the period. The largest gap was with China at US$33.3 billion, up 34.4%, followed by South Korea at US$10.6 billion, up 48.7%, and ASEAN at US$5 billion, up 31.3%.
According to customs data, in the first two months of the year alone, Vietnam’s imports of computers, electronic products and components from South Korea exceeded US$8 billion, up 46.2% year-on-year. Imports of machinery, equipment and spare parts were about US$730 million.
Earlier, South Korea’s Ministry of Trade, Industry and Resource and the Korea International Trade Association said exports to Vietnam reached US$62.8 billion in 2025, up 7.6% from 2024. Amid global trade volatility, Vietnam is emerging as a key market for South Korea in ASEAN, helping diversify exports and reduce reliance on the United States and China.
Since the Vietnam-South Korea’s Free Trade Agreement took effect in late 2015, bilateral trade has expanded sharply.
Experts said the expansion of South Korean manufacturing in Vietnam, along with the shift of supply chains to Southeast Asia, is driving higher exports into the country and keeping the trade deficit elevated.
