Hanoi’s imports surged 41% year-on-year to an estimated US$42.66 billion in the first eight months of 2026, driven by heightened production activity and investment, according to data from the city’s Statistics Office. Key categories such as machinery, equipment, and spare parts increased by 45% to US$8.78 billion. Petroleum product imports nearly doubled, rising 96% to US$5.43 billion, while transport vehicles and spare parts climbed 77% to US$4.37 billion. Imports of computers, electronic products, and components grew 36.4% to US$3.07 billion.

The domestic economic sector accounted for the bulk of import growth, with US$35.5 billion worth of goods imported during the period, marking a 44% increase. The foreign-invested sector also saw growth, importing US$7.16 billion, up 29%.

Meanwhile, Hanoi’s exports expanded 8% to approximately US$14.89 billion over the same period. The foreign-invested sector recorded notably faster export growth than the domestic sector, highlighting its rising contribution to the city’s export performance. Strong export categories included computers, electronic products, and components, which rose 21% to US$2.26 billion, while agricultural products increased 22% to US$1.26 billion. Exports of transport vehicles and spare parts grew 7% to US$2.04 billion, and machinery, equipment, and spare parts edged up 1.2% to US$2.14 billion.

However, certain sectors faced export declines amid ongoing international market pressures. Textile and garment exports fell 4% to US$1.53 billion, wood and wood product exports dropped 12% to US$481 million, and telephone and component exports declined sharply by 66% to US$42 million.

Pham Hoai Nam, head of Hanoi’s Statistics Office, emphasized the need to enhance domestic production capacity, raise the value added in products, and deepen integration into global supply chains, citing the significant gap between import and export growth. He advised increased trade promotion, stronger linkages between businesses and markets, support for firms facing operational challenges, and greater utilization of free trade agreements to diversify export markets and reduce dependence on traditional partners.

Hanoi’s strategic plan aims for an average annual export growth rate of at least 12% from 2026 to 2030, with a focus on diversifying export destinations and boosting high-tech and value-added products. The city targets raising the share of high-tech goods to over 50% of total export value by 2030, alongside efforts to expand infrastructure, promote digital transformation, green manufacturing, and workforce development.

Priority export markets include the United States, European Union, Japan, South Korea, China, and ASEAN nations, while also exploring emerging markets in the Middle East, South Asia, Africa, and Latin America. Key sectors outlined in the plan include computers and electronics, machinery and equipment, textiles and garments, footwear, wood products, agricultural and processed foods, handicrafts, and supporting industry goods. Businesses are encouraged to expand production capacity, upgrade technology, improve product quality, and develop green, high-value products to enhance competitiveness in overseas markets.