VIETNAM ENTERS TOP 15 GLOBAL TRADERS AS IMPORT-EXPORT TURNOVER TOPS US$920 BILLION

Workers inside a factory in Vietnam – PHOTO: DAO LOAN

HCMC – Vietnam’s total import-export turnover reached a record high of more than US$920 billion last year, up 16.9% year-on-year, lifting the country into the world’s top 15 trading economies, Nguyen Anh Son, director general of the Agency of Foreign Trade under the Ministry of Industry and Trade, said.

The achievement highlighted the crucial role of external trade in driving economic growth and underscored Vietnam’s deepening integration into global value chains, Son said in an interview with Tuoi Tre newspaper.

Despite persistent global uncertainties, including supply chain disruptions and uneven demand recovery in major markets, Vietnam’s key export sectors showed strong resilience. Processed and manufactured goods remained the mainstay, accounting for about 85% of total trade value, with electronics, machinery, textiles, footwear and wood products recording solid growth.

Agriculture, forestry and fisheries also posted gains, with exports of rice, coffee, fruit and seafood rising in both value and quality. These products have increasingly met stricter requirements on food safety, traceability and sustainability, reflecting efforts to move up the value chain.

To counter rising trade protectionism, including reciprocal tariffs, the Ministry of Industry and Trade has stepped up efforts to diversify export markets and supply chains. Alongside traditional partners, Vietnam has expanded exports to markets covered by free trade agreements such as the European Union, the U.K., Canada and Mexico, as well as CPTPP and RCEP members, while seeking growth in emerging markets in the Middle East, Africa, South Asia and Latin America.

The ministry has also focused on helping businesses comply with rules of origin, technical standards and new requirements related to the environment, labor and sustainable development, while strengthening early warning systems against trade defence measures and cutting administrative procedures to lower costs.

Foreign-invested enterprises continue to account for a large share of Vietnam’s trade, particularly in manufacturing and global supply chains. However, Son said the Government’s priority was to strengthen domestic firms so they can participate more deeply and effectively in these supply chains, through developing supporting industries and increasing localisation rates.

Global trade is expected to face further pressure from tighter standards and sanctions, which could raise compliance costs and extend market entry timelines, especially for small and medium-sized enterprises. At the same time, ongoing restructuring of global supply chains could create opportunities for Vietnam if it adapts quickly, Son said.

Looking ahead to 2026, the ministry plans to focus on improving export quality, diversifying markets and supply chains, promoting Vietnamese brands abroad and enhancing the competitiveness of domestic enterprises.

Domestic companies are playing a growing role, with export turnover reaching about US$103.6 billion in the first 11 months of 2025, providing a foundation for more balanced and sustainable trade growth, Son said.

Source: The Saigon Times