Việt Nam’s trade value surpasses $900b for first time

Việt Nam’s trade value surpasses $900b for first time

The General Department of Việt Nam Customs announced that the total trade turnover was expected to reach $900 billion by December 26, 2025 - the highest level ever recorded.

Import and export cargo containers at Lạch Huyện Container Port in Hải Phòng City. VNA/VNS Photo

Việt Nam’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 Việt Nam Customs (GDVC).

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

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

With this result, Việt Nam has joined the group of the world’s 25 largest trading economies. According to the World Trade Organisation (WTO), Việt Nam 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 $21.2 billion.

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

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

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

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

According to Thọ, the achievement reaffirms Việt Nam’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 Thọ.

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 Việt Nam’s position in international commerce.

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

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

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

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

A key macroeconomic achievement has been Việt Nam’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 $19.9 billion in 2020 and reached a record $28.3 billion in 2023. It stood at $24.9 billion in 2024 and is projected to remain at around $21 billion in 2025.

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