EXPORT GROWTH TARGET OF 15-16% SET FOR 2026

2026 would mark the start of a new development phase for the country, making exports a critical driver of growth while also requiring a shift toward a more efficient and sustainable growth model.

Coconut jelly being produced for export at GC Food Co in Đồng Nai Province. — VNA/VNS Photo

HÀ NỘI — Việt Nam is targeting export growth of around 15-16 per cent in 2026 as it seeks to support economic expansion in the first year of its new five-year socio-economic development phase, a senior trade official has said.

Nguyễn Anh Sơn, director of the Ministry of Industry and Trade (MoIT)’s Import-Export Department, said the target was set under a Government resolution outlining key tasks and solutions for implementing the 2026 socio-economic development plan and State budget.

He said 2026 would mark the start of a new development phase for the country, with exports playing a critical role in driving growth and a shift toward a more efficient and sustainable growth model.

Under the plan, total export turnover is expected to rise to about US$546-550 billion in 2026, compared with 2025 levels, implying average monthly exports of around $45-46 billion, Sơn said.

The target was described as challenging amid ongoing global economic uncertainty, requiring coordinated efforts from government agencies, local authorities and the business community. Sơn said measures to boost exports would need to be implemented early in the year and in a synchronised manner to deliver tangible results.

He said the MoIT has identified six priority measures to promote export growth in 2026 and beyond.

The first focuses on developing domestic production and new export products, increasing value added and local content, and shifting from processing to manufacturing and direct exporting to reduce reliance on imported raw materials.

The second aims to help exporters meet increasingly strict technical and environmental standards and respond more effectively to trade barriers and trade defence measures, as sustainability requirements in major markets continue to tighten.

A third priority is to strengthen linkages between domestic firms and foreign-invested companies and global corporations by developing industrial clusters and integrated supply chains, in order to raise the participation of Vietnamese businesses in global value chains.

The ministry will also closely monitor trade policy changes in major economies, while improving market information, trade promotion and the application of digital tools to enhance forecasting.

Another focus is to make more effective use of free trade agreements, diversify export destinations and develop new markets to reduce concentration risks and support stable growth.

Finally, the ministry plans to continue reforming administrative procedures and simplifying specialised inspections in import and export activities, a move it said would help cut costs and time for businesses and improve the competitiveness of Vietnamese goods.

Last year, Việt Nam’s export revenue amounted to $475.04 billion, marking a 17 per cent year-on-year increase, according to figures released by the National Statistics Office (NSO).

The NSO reported that 36 product categories each recorded export revenue of more than $1 billion, together accounting for 94 per cent of the total exports. Of these, eight categories exceeded $10 billion each, representing 70.2 per cent.

By sector, processed industrial products dominated exports with $421.47 billion, equivalent to 88.7 per cent of the total export value. Agriculture and forestry earned $39.46 billion (8.3 per cent), seafood brought in $11.29 billion (2.4 per cent), while fuels and minerals contributed $2.83 billion (0.6 per cent). — VNS

Source: VNS