Welcome to the first of a recurring feature: a plain, buyer-first readout of Vietnam's official trade and customs data, refreshed each period so you can see where the country's manufacturing actually stands — not the marketing version. This edition covers the first half of 2026, on figures the National Statistics Office released on 3 July.
The macro line
The headline number is, once again, good with the tariff on. GDP grew 8.18% in H1 2026 — and the second quarter alone ran 8.39%, the strongest Q2 since 2011. Industry and construction did the heavy lifting, with industrial value added up 9.86% and the sector contributing more than 40% of the total growth. For a materials buyer, that is the demand-side signal: the factories are busy, at home and for export.
On trade, the volumes are large and rising. Exports passed US$266 billion in the first half, up 21% year on year, and total two-way trade reached US$549.7 billion (+27.1%). The one complication: imports rose faster (+33.4%) than exports, producing a US$16.65 billion trade deficit as foreign-invested firms pulled in machinery and components — and that is pressing the dong lower.
That last point is a quiet gift to importers, and worth stating plainly. A weaker Vietnamese dong makes Vietnamese goods cheaper in US-dollar terms, so an FOB price that looks flat in VND can land softer in your currency. FX is not usually a reason to buy, but in H1 2026 it tilts the same direction as the tariff math — toward Vietnamese origin.
The six groups — latest reading
Customs granularity varies by line, so this table is honest about when each number is from. Wood has fresh H1 2026 detail; the others carry their most recent established reading until the next release.
| Group | Latest reading | Period |
|---|---|---|
| Wood & plywood | US$8.54bn exports, +4.4%; US ~half; $19bn full-year target | H1 2026 |
| Engineered quartz | World top-3 exporter; US/Australia-facing, watching the silica question | 2025 |
| Porcelain / tile | Capacity 800m+ m²/yr; 2025 export softening into an energy-cost year | 2025 |
| Sanitary ware | ASEAN's #1 producer; TOTO / LIXIL / Caesar make locally | 2024–25 |
| Aluminium & glass | ~US$4.2bn aluminium (2024); now inside CBAM for EU projects | 2024 + 2026 rule |
| Fiber cement | No reliable national figure — verify at exporter level; cement input in glut | ongoing |
The takeaway from the grid: wood is the one on the front foot this half, rebounding toward a record annual target with the US still its anchor market — which is also the line carrying the most trade-remedy and origin scrutiny, so strong numbers and sharp paperwork travel together.
Cross-currents this quarter
Three standing forces frame every one of those readings:
- The 20% US tariff line holds — and exports to the US kept rising under it. The landed-cost math is unchanged: Vietnamese origin, provably, still lands under the alternative.
- CBAM went live in its definitive phase in January, adding a carbon cost to aluminium and cement into the EU — priced off the exporter's emissions data.
- Freight is soft but volatile, with the Red Sea the swing factor for Europe-bound cargo.
What it means for a buyer
A busy, growing manufacturing base (good for quality and capacity), a currency drifting your way (good for price), and a tariff/carbon/freight backdrop that rewards provable origin and clean documentation. In one line: the fundamentals favour buying, and favour buying it verified. We'll take the next reading when the Q3 figures land.
Sources & data notes
H1 2026 figures — GDP +8.18% (Q2 +8.39%), industrial value added +9.86% and its
40% growth share, exports >US$266bn (+21%), two-way trade US$549.7bn (+27.1%), imports +33.4%, the US$16.65bn trade deficit and dong pressure, and wood exports of US$8.54bn (+4.4%, US ~half, $19bn target) — are drawn from the National Statistics Office release of 3 July 2026 and 2026 customs/business reporting. Per-group readings marked 2024–2025 are the latest established figures pending newer customs granularity. Official data is routinely revised, and period comparisons shift; figures are indicative and for orientation only, not commercial or investment advice.
Want your BOM priced against the current market — currency tailwind, tariff and carbon costs and all? Send us one BOM and the proposal comes back within 48 hours. Our own fiber-cement line, DURAGREEN®, is one of the six groups we track and consolidate.