However, Vietnam imported more than it exported, resulting in a trade deficit of 20.52 billion USD. This was mainly due to increased demand for imported materials and machinery.

According to the National Statistics Office, Vietnam exported 319.53 billion USD worth of goods from January to July, a 21.7% increase from the same period last year.

The domestic sector contributed 63.64 billion USD to exports, a 5.8% increase, and accounted for 19.9% of total exports. The foreign-invested sector contributed 255.89 billion USD, a 26.4% increase, and accounted for 80.1% of total exports. The domestic sector's contribution was lower. The foreign-invested sector's contribution was higher.

In the first seven months, 31 products were exported with a value of over 1 billion USD each, accounting for 93% of total exports. Seven of these products were worth over 10 billion USD each, making up 69.7% of total exports.

Manufactured goods were the main export products, worth 287.91 billion USD, and accounted for 90.1% of total exports. Agricultural and forestry products were worth 22.79 billion USD, seafood exports were 6.86 billion USD, and fuel and mineral exports were 1.97 billion USD.

Meanwhile, Vietnam's imports increased by 34.8% to 340.05 billion USD. The domestic sector imported 92.14 billion USD worth of goods, a 24.1% increase, while the foreign-invested sector imported 247.91 billion USD worth of goods, a 39.2% increase.

A total of 40 imported products were worth over 1 billion USD each, accounting for 93% of total imports. Two products were worth over 10 billion USD each, making up 52% of total imports.

Production inputs accounted for 94.1% of imports, worth 319.95 billion USD. Machinery and equipment made up 56.9% of imports, while raw materials and fuels accounted for 37.2%. Consumer goods imports were worth 20.1 billion USD, or 5.9% of total imports.

The US was Vietnam's largest export market, with exports worth 104.7 billion USD. China was Vietnam's largest import market, with imports worth 138.6 billion USD. Vietnam had a trade surplus of 91.4 billion USD with the US and a trade deficit of 93 billion USD with China.

To increase exports, the Government should promote exports, diversify supply chains, and improve product quality. This will help Vietnam integrate more deeply into regional and global supply chains.

The Government should also utilize existing free trade agreements, increase exports to key markets, and tap into emerging markets. This will help achieve a sustainable trade surplus.

Additionally, the Government should provide businesses with market information, help them comply with export standards, and support them in anti-dumping cases. This will help businesses access finance and adopt advanced technologies to improve product quality and expand export markets.