Trade between Vietnam and Russia amounts to $3.24 billion: almost a billion dollars of imported coal.
VHO - In the first seven months of 2026, the total trade volume between Vietnam and Russia reached 3.24 billion US dollars, an increase of 12 percent compared to the same period in 2025. It is noted that this growth occurred against the backdrop of a decline in Vietnamese exports to Russia, while imports from the Russian market increased sharply.
Trade between Vietnam and Russia reached US$3.24 billion in the first seven months of 2026, with Vietnam recording a trade deficit of US$576.4 million.
Imports from Russia increased by 27%, or almost $1 billion worth of coal.
According to customs data, in the first seven months of the year, Vietnamese exports to the Russian Federation reached 1.33 billion US dollars, a decrease of 4.39 percent compared to the same period of the previous year. Conversely, imports from Russia amounted to US$1.9 billion, up 27%.
It is worth noting that coal, in various forms, was the main item of import, reaching $959 million. This represents a very significant share of the total value of goods imported by Vietnam from Russia.
Besides coal, other major imported products include fertilizers of all kinds, worth $165 million; other base metals, for $102 million; raw plastic materials, for $82.9 million; chemicals, for $66.2 million; seafood, for $59.5 million; and wheat, for $31.8 million.
As imports grew faster than exports, the trade balance between Vietnam and Russia posted a deficit of $576.4 million in the first seven months of the year.
Coffee is the main product of Vietnamese exports to Russia.
On the export side, coffee remained the main product, with a turnover of 306 million dollars. This is followed by seafood ($132.7 million), machinery, equipment, tools and other spare parts ($126 million), fruits and vegetables ($58.5 million) and cashew nuts ($33.7 million).
It should be noted that not all product groups maintained their growth rate. Textile and clothing exports reached $154.9 million, a significant decline of 59% compared to the same period last year.
The balance sheet of trade for the first seven months of the year reveals a notable development: the total volume of trade between Vietnam and Russia increased by 12%, but this growth is mainly due to imports. While Vietnamese exports to Russia fell by 4.39%, Russian imports saw a spectacular increase of 27%, with coal playing a dominant role.
