VIETNAM’S TRADE TOPS US$900 BILLION FOR FIRST TIME

A view of the Tan Cang Port in HCMC – PHOTO: LE HOANG

HCMC – Vietnam’s total import-export turnover has surpassed US$900 billion for the first time, marking a historic milestone as full-year turnover is expected to reach around US$920 billion in all of 2025, according to the Department of Vietnam Customs.

At a ceremony held today, December 25, the customs authority officially confirmed that Vietnam’s total trade had exceeded the US$900-billion threshold, the highest level ever recorded for the country’s merchandise trade.

Speaking at the event, Nguyen Van Tho, director general of the Department of Vietnam Customs, said global and regional conditions in 2025 remained challenging. Heightened strategic competition among major economies, particularly the United States’ reciprocal tariff policy, disrupted global supply chains and trade flows. Domestically, repeated natural disasters and floods also weighed on production and business activity.

Vietnam first crossed the US$100-billion trade mark in 2007, the year it joined the World Trade Organization (WTO). Since then, trade has steadily climbed, reaching US$200 billion in 2011, US$300 billion in 2015, US$400 billion in 2017, US$500 billion in 2018, and US$700 billion in 2021, before setting a new milestone in 2025.

The customs authority estimates that total trade in 2025 will reach about US$920 billion, up more than US$133 billion from the previous year. Exports are projected at US$449.41 billion, while imports are estimated at US$470.59 billion.

With the expanding scale of trade, Vietnam’s position in global commerce has strengthened. The country has entered the group of the world’s top 25 trading economies. According to the WTO, Vietnam now ranks 21st globally in exports and 20th in imports, up 11 and 12 places compared with a decade ago, respectively.

Vietnam is expected to record a trade surplus for the 10th consecutive year. In 2025, the surplus is projected at US$21.2 billion. The foreign-invested sector is estimated to post a surplus of around US$48.2 billion, while the domestic sector is expected to run a trade deficit of more than US$27 billion.

Foreign-invested enterprises remain the main driver of trade growth. Total import-export turnover of the FDI sector is forecast to reach a record US$663 billion, up 25% year-on-year and accounting for about 72% of Vietnam’s total trade value. Meanwhile, the domestic sector is estimated at around US$257 billion, roughly unchanged from last year.

Processed industrial products continued to dominate exports, accounting for more than 85% of total export value. Key items included computers, electronic products, mobile phones and machinery. These three high-tech product groups contributed nearly half of total export earnings and more than two-thirds of the country’s export growth.

On the import side, machinery, components and production inputs made up a large share, reflecting Vietnam’s deep integration into global supply chains.

Vietnam has set up trade ties with more than 230 countries and territories by 2025. China remained the country’s largest trading partner, with bilateral trade estimated at US$252 billion. The U.S. ranked second at US$170 billion. Combined trade with China and the U.S. totaled US$422 billion, accounting for about 46% of Vietnam’s total trade value.

The US$900-billion milestone not only reflects the expanding scale of Vietnam’s trade but also highlights significant growth potential, provided the country continues institutional reforms, strengthens domestic enterprises and effectively leverages its free trade agreements.

Source: The Saigon Times