Vietnam's Q1 2026 exports rise 19.1% to $122.9 billion, led by electronics and machinery
Vietnam's exports reached $122.9 billion in Q1 2026, up 19.1% year on year, according to FiinGroup data reported by Vietnam Investment Review. Electronics and machinery made up about half the total, with machinery shipments to the US surging 88.7% to overtake electronics.
Electronics and machinery anchor a 19.1% export gain
Vietnam's export value reached $122.9 billion in the first quarter of 2026, up 19.1 per cent year on year, according to FiinGroup data reported by Vietnam Investment Review. About 27,000 businesses took part in export activity, a 3.2 per cent increase on the year. Foreign-invested enterprises (FIEs) continued to dominate the trade, accounting for 74.4 per cent of export value, up 2.2 per cent from a year earlier — a share that underlines Vietnam's role as an assembly hub inside Asian technology supply chains.
Electronic products led the top 10 export items at $41.2 billion, or 34.5 per cent of the total. Machinery and equipment ranked second at $22 billion (18.4 per cent), followed by textiles and garments ($8.6 billion), footwear ($5.4 billion) and wood and wood products ($5 billion). Other significant categories included plastics ($3.2 billion), coffee ($2.8 billion), seafood ($2.6 billion), confectionery and cereal-based products ($2.3 billion) and base materials and products ($2.3 billion). Together, electronics and machinery accounted for about half of the quarter's export value.
US demand shifts toward machinery
By market, the United States remained Vietnam's largest partner at 31.7 per cent of export value, ahead of the EU (14.5 per cent) and China (13.5 per cent). South Korea and Japan accounted for 6.6 per cent and 5.8 per cent respectively. The three leading markets — the US, Europe and China — together made up nearly two-thirds of export value.
Exports to the US reached $37.85 billion, up 21.3 per cent. Machinery and equipment took the top spot at $10.53 billion, soaring 88.7 per cent, while electronic products slipped 4.4 per cent to $10.24 billion. FiinGroup noted that machinery export value to the US grew nearly 90 per cent, overtaking electronic products to become the leading category in total export value to that market.
Middle East weakens as some sectors surge
The Middle East moved in the opposite direction. Vietnam's exports to the region came to about $2.8 billion, down 1.7 per cent. Electronics remained the largest category there at $1.43 billion, down 4 per cent. Fruits and vegetables fell 30.5 per cent, footwear 16.6 per cent, and confectionery and cereal products 10.4 per cent. Against that trend, chemical products rose 177.4 per cent, base metals and products 187.1 per cent, and plastic products 27 per cent.
Korean and Chinese-linked firms lead shipments
Among exporting businesses, South Korean companies ranked first with $33.5 billion, or 27.9 per cent of export value, closely followed by Vietnamese firms at $30.6 billion (25.6 per cent). FiinGroup found that South Korean companies contributed 28 per cent of FIE export value, while Chinese, Taiwanese and Hong Kong enterprises together contributed 35 per cent. It added that meeting tightening international requirements on quality, traceability and sustainability, and supporting Vietnamese enterprises' access to green export markets, has become a critical priority.