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| Tra fish processing for export (Photo: VNA) |
Hanoi (VNA) - Vietnam's foreign trade is set to exceed 900 billion USD in 2025, positioning the country among the top 15 global trade powers, according to insiders.
The total import-export turnover reached nearly 840 billion USD in the first 11 months of this year, up 17.2% year-on-year, with a trade surplus of over 20 billion USD. With this performance, the target of 900 billion USD in foreign trade is well within reach.
In the period, exports reached over 430 billion USD, up 16.1%, while imports totalled 409.6 billion USD, up 18.4%. Despite global trade challenges, including tariff policies and protectionist measures, Vietnam's export growth has outpaced imports, ensuring a continued trade surplus of more than 20.5 billion USD. This surplus has supported the economy’s key balances, stabilising macroeconomic conditions and strengthening the country's international payments position.
The year 2025 is not only a record year for exports but also a turning point for Vietnam’s entry into the ranks of the world's largest trading economies. With the 11-month trade volume, Vietnam’s trading pace has accelerated beyond typical cycles.
Surpassing the 900 billion USD milestone will solidify the country’s place among the global trade superpowers, and the 1 trillion USD target is now within closer reach.
The rapid expansion from only 500 billion USD in 2019 to the present level underscores the success of Vietnam’s integration into the global economy, supported by rising foreign direct investment (FDI) and robust domestic industries.
The growth of FDI has been a significant factor, with FDI-related businesses reporting a 25.1% increase in total import-export turnover, reaching 579.11 billion USD by mid-November. Despite disruptions from storms and supply chain delays, production has continued to grow, with new order volumes increasing and the manufacturing sector showing strong performance, as reflected in the Purchasing Managers' Index (PMI).
With a dynamic economy, Vietnam continues to enhance its position in regional and global supply chains.
Notably, international organisations have consistently raised their growth forecasts for Vietnam. Singapore-based United Overseas Bank (UOB) has upgraded the country’s GDP growth forecast for 2025 from 7.5% to 7.7%, driven by a vibrant international trade environment and strong production output.
According to UOB, over the next decade, Vietnam will play an increasingly important role on the global stage. Sustainable growth will elevate its status as a key link in regional and global supply chains, particularly in manufacturing and emerging technologies.
Dr. Vo Tri Thanh, Director of the Institute for Brand and Competitiveness Strategy, remarked that the manufacturing sector is growing, and foreign trade is expanding. Therefore, Vietnam can no longer compete solely on low-cost products but must shift towards creating value, innovating supply chains, and building a national brand.
Looking ahead, the fundamental drivers of Vietnam's economy remain strong, supported by continuous growth in manufacturing, trade, and the shift of FDI flows into sectors like electronics and semiconductors.
Signed free trade agreements will continue to open new opportunities for exports and imports. However, this comes with the challenge of shifting to deeper processing in agriculture and fisheries, investing in research and development, building brands, and meeting green standards for manufactured goods.
As foreign trade expands, export industries will face more protective measures from importing markets. Therefore, businesses must proactively adapt to international fluctuations to leverage open trade advantages while minimising risks, he advised./.
