Vietnam’s trade value surpasses US$900b for first time

Vietnam’s total trade turnover has surpassed US$900 billion for the first time, marking a historic milestone in the country’s economic integration, according to the General Department of VietnamCustoms (GDVC).

At a ceremony on releasing the best achievement held on December 25, GDVC announced that the total trade turnover was expected to reach US$900 billion by December 26, 2025 - the highest level ever recorded.

For the full year of 2025, Vietnam’s total trade value is estimated at US$920 billion, up 16.9 % year-on-year. Of which, imports are projected at US$449.41 billion, an increase of 18 %, while exports are estimated at US$470.59 billion, up 15.9 %.

With this result, Vietnam has joined the group of the world’s 25 largest trading economies. According to the World Trade Organisation (WTO), Vietnam currently ranks 21st globally in exports and 20th in imports, climbing 11 and 12 places respectively compared to a decade ago.

The nation has maintained a trade surplus for 10 consecutive years. The trade surplus this year is estimated at US$21.2 billion.

In 2025, a total import–export turnover of the foreign direct investment (FDI) sector is expected to exceed US$600 billion for the first time, reaching about US$663 billion. This accounts for 72 % of Vietnam’s total trade value and contributes as much as 99 % of the overall trade growth.

Meanwhile, the import-export value of domestic enterprises is estimated at around US$257 billion, remaining largely unchanged from the previous year.

Speaking at the ceremony, GDVC deputy director general Nguyen Van Tho said that global and regional economic conditions in 2025 continued to face significant uncertainties, while Vietnam was repeatedly affected by natural disasters, storms, and floods, which posed challenges to production, business activities, and economic growth.

Despite these difficulties, Vietnam achieved positive outcomes, most notably surpassing the US$900 billion trade milestone for the first time.

According to Tho, the achievement reaffirms Vietnam’s status as a highly open economy with deep international integration and a bright spot in regional and global trade.

The milestone is a result of the Party and the Government's timely direction through resolutions, programmes, and plans aimed at promoting production and business, stabilising the macroeconomy, and enhancing national competitiveness. 

It reflects the strong efforts of the business community and the coordinated involvement of ministries and sectors, including the Ministry of Finance and the customs sector.

These efforts have been complemented by measures to support import-export activities, effectively utilise free trade agreements, expand markets, develop logistics and reduce costs for businesses.

The customs sector has implemented comprehensive reforms and modernisation initiatives, accelerated digital transformation, and facilitated trade.

It has strengthened inter-agency coordination through the National Single Window and the ASEAN Single Window mechanisms, promptly addressed business difficulties, and expanded international cooperation and integration in the customs field.

Meanwhile, businesses have proactively adapted, innovated, and maintained effective operations, making significant contributions to trade growth and national economic development, according to Tho.

In the coming period, GDVC will continue to promote administrative procedure reforms, modernise customs operations, strengthen risk management and anti-smuggling efforts, reduce inspection rates, and encourage legal compliance among enterprises, thereby further facilitating trade and enhancing Vietnam’s position in international commerce.

Currently, Vietnam maintains trade relations with more than 230 countries and territories. China remains Vietnam’s largest trading partner, with estimated bilateral trade of US$252 billion, followed by the US at US$170 billion.

These two markets account for about 46 Vietnam of Vietnam’s total trade turnover and contribute 62 Vietnam of the country’s overall trade growth.

According to GDVC, Vietnam’s total trade value during the 2015-2024 period reached US$5.52 trillion. Trade turnover increased from about US$328 billion in 2015 to US$786 billion in 2024, representing a 2.4-fold increase over a decade.

The number of export products with annual turnover exceeding US$1 billion has also risen rapidly, from 10 items in 2007 to 33 in 2023 and 36 in 2024. Vietnam is expected to maintain 36 export items exceeding US$1 billion in 2025.

A key macroeconomic achievement has been Vietnam’s transition from persistent trade deficits to sustained trade surpluses. The country recorded its first trade surplus in 2012 and has maintained a surplus for 10 consecutive years since 2016.

The surplus grew to US$19.9 billion in 2020 and reached a record US$28.3 billion in 2023. It stood at US$24.9 billion in 2024 and is projected to remain at around US$21 billion in 2025.

Viet Nam News

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