Vietnam's May Trade Deficit Surges to $5.21B, Widening Beyond Forecast on Commodity Cost Pressure

According to Vietnam's General Statistics Office on June 3, Vietnam's May trade deficit widened to $5.21 billion, significantly exceeding the median forecast of $3.98 billion and April's $3.28 billion deficit. The widening deficit reflects surging import costs driven by Middle East tensions that have pushed global commodity prices, particularly crude oil, to elevated levels, straining the export-dependent economy.

Data showed Vietnam's trade surplus with the United States, its largest export market, reached $60.4 billion in the first five months of 2026, up 21.1% year-over-year, underscoring continued export strength to the world's largest economy amid new U.S. tariff threats.