Amid uncertain global economic dynamics, Vietnam's foreign trade sector managed to post a stellar performance. Recent reports record total import and export values reaching US$549.69 billion, a significant increase of 27.1% compared to the same period last year. Specifically for exports, Vietnam successfully recorded a 21% growth with a total value of US$266.52 billion.
This impressive performance was dominated by the processing industry sector, contributing up to 90% of total export turnover. The agriculture, forestry, and fisheries sector also showed extraordinary resilience, contributing nearly US$25 billion. A total of 29 export commodities have now surpassed US$1 billion in sales, with five top categories, such as electronics and machinery, even exceeding the US$10 billion threshold.
Tran Thanh Hai, Deputy Director of the Import-Export Department of Vietnam's Ministry of Industry and Trade, stated that these growth figures evidence the effectiveness of policy coordination between the government and business actors. However, he also emphasized the need for vigilance against logistics challenges, increasingly strict sustainability requirements, and the importance of optimizing 17 free trade agreements (FTAs) to maintain competitiveness in international markets.
On the other hand, industry players such as the Vietnam Association of Seafood Exporters and Producers (VASEP) and the Timber and Forest Product Association (Viforest) continue to adapt proactively. Despite facing internal constraints such as labor shortages and credit access, businesses remain committed to enhancing product added value through technological innovation and implementing eco-friendly standards in line with global market demands.
The government is committed to continuing to cut administrative barriers and improve the industrial ecosystem through the drafting of the Key Industry Law. Ongoing synergy between government policy reforms and private sector innovation is projected to serve as a strong foundation for Vietnam to exceed its export turnover target of US$1,000 billion throughout 2026.
