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Exports rose 19.5% year-on-year to over $215.66 billion while imports surged 30.8% to $229.46 billion during the period, according to data released by the National Statistics Office (NSO) under the Ministry of Finance on Wednesday.

That translated to a trade deficit of $13.8 billion for the five months, as against a surplus of $5.1 billion a year ago.

The domestic sector posted a deficit of $20.76 billion, while the foreign-invested sector, including crude oil, generated a surplus of $6.96 billion.

The U.S. remained Vietnam’s largest export market, with turnover reaching $69.6 billion, while China was the largest source of imports at $92.6 billion.

Trade surplus with the U.S. rose 21.1% year-on-year to $60.4 billion. The country also recorded surpluses of $18.1 billion with the EU, up 11.3%, and $0.8 billion with Japan, down 13.2%.

Meanwhile, trade deficits with China, South Korea and ASEAN widened to $62.5 billion, $21.1 billion and $8.6 billion, respectively.

During the first five months, exports amounted to $215.66 billion, up 19.5% year-on-year. The domestic sector accounted for $43.5 billion, up 2.5% and accounting for 20.2% of total exports. The foreign-invested sector made up the remainder at $172.16 billion, up 24.7%.

Twenty-six export items recorded turnover of more than $1 billion, accounting for 90.7% of total exports, including seven products with turnovers exceeding $10 billion.

Processed industrial goods remained the main export category, contributing $193.71 billion and accounting for 89.8% of total exports. Agricultural and forestry products brought in $15.79 billion, seafood exports reached $4.67 billion, while fuel and mineral exports totaled $1.49 billion.

For the first five months, imports rose 30.8% year-on-year to $229.46 billion.

Thirty-six import items recorded turnover of above $1 billion, representing 91.2% of total import value, including six products exceeding $10 billion.

Production materials continued to dominate the import structure, accounting for 94.1% of total imports, including machinery, equipment, tools and spare parts at 55.7%, and raw materials and fuels at 38.4%. Consumer goods made up the remaining 5.9%.

In May alone, trade turnover amounted to $99.07 billion, rising 3.2% from the previous month and 25.8% year-on-year.

May’s exports were estimated at $46.93 billion, up 2.1% from April and 18% from a year ago, while imports reached $52.14 billion, up 4.3% from April and 33.8% year-on-year. That resulted in a trade deficit of $5.21 billion for the month.

Nguyen Thi Huong, director of the statistics office, said more measures are needed to boost exports, , improve product quality, increase participation in regional and global value chains, and diversify supply chains, production networks and export markets.

She also stressed the need to fully utilize free trade agreements, expand exports to major markets, tap emerging and potential destinations such as Halal, Latin American and African markets, and help businesses meet evolving market standards, respond to anti-dumping measures and adopt advanced technologies to enhance competitiveness and drive export growth.