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International Trade Remains a Bright Spot Amidst Global Commerce’s Turbulent Times

4 August, 2025

On the afternoon of August 1, 2025, in Hanoi, the Department of Import and Export (Ministry of Industry and Trade) organized an event called “Vietnam Import and Export: Honor – Announcement – Connection – Cooperation” to evaluate and recognize the contributions of the import-export business community and provide orientation for development in the context of deep integration.

IMPORTANT DRIVER OF ECONOMIC GROWTH

Information provided at the event showed that in 2024, against a more positive macroeconomic backdrop than in 2023, along with strong involvement from the government, ministries, and sectors, as well as the resilience of the business community, import and export activities experienced a robust recovery. They made a significant contribution to the overall economic growth and helped stabilize the macroeconomy.

Accordingly, the total import-export turnover in 2024 reached US$786.9 billion, up 15.5% compared to 2023. Exports reached US$405.9 billion (up 14.4%), and imports reached US$381 billion (up 16.7%).

In 2025, the import and export situation continued to improve, despite numerous challenges. According to the Ministry of Industry and Trade, in the first six months of 2025, the total import-export turnover reached US$432.1 billion, up 16.1% over the same period last year. Exports reached US$219.9 billion, an increase of 14.5%, while imports reached US$212.2 billion, up 17.9%.

Speaking at the event, Minister of Industry and Trade Nguyen Hong Dien emphasized that, in recent years, Vietnam has faced numerous difficulties and challenges. Strategic competition and trade conflicts among major countries have intensified, fracturing global production and supply chains. The trend of trade protectionism among many economies, along with the imposition of climate/environmental standards and technical regulations that are essentially non-tariff barriers to imported goods, has directly and adversely affected most countries, especially those with large economic openness like Vietnam.

Minister Nguyen Hong Dien giving directives at the event.

In response to this situation, the Ministry of Industry and Trade, under the regular and direct guidance of the Government and the Prime Minister, has proactively coordinated with ministries, sectors, and localities, closely followed international and domestic situations, and implemented timely and appropriate policy responses. Additionally, they have deployed effective solutions to support businesses, associations, and industries in developing production and business activities and promoting exports.

Specifically, they have organized numerous supply-demand connection activities between Vietnamese manufacturing enterprises and foreign suppliers through trade promotion channels and the system of Vietnamese trade offices abroad. They have also enhanced support and provided market-specific information to help businesses maintain traditional markets and penetrate and exploit new markets.

Furthermore, they have conducted numerous product consumption connection activities and organized events chaired by the Prime Minister to work with the system of Vietnamese representative agencies abroad, international organizations, associations, industries, and large enterprises to remove difficulties and promote domestic production, consumption, and export market expansion.

“With the correct, synchronous, and resolute leadership and direction of the Party and State leaders, the timely and effective involvement of ministries, sectors, and localities, along with the outstanding efforts of the business community and the people, the country’s socio-economic situation has continued to improve, achieving important and positive results across fields. Notably, import and export turnover has grown strongly and continuously set new records, becoming one of the crucial drivers of the country’s economic growth,” affirmed Minister Nguyen Hong Dien.

THREE SOLUTIONS FOR BREAKTHROUGH IN IMPORT AND EXPORT

To overcome difficulties and challenges and further promote import and export activities, contributing to the economic growth target of 8.3% to 8.5% in 2025 and a double-digit figure in the following years, and to ensure that exports continue to play a pivotal role in economic growth, Minister Nguyen Hong Dien emphasized three strategic orientations that need to be implemented synchronously.

First, functional units under the Ministry should continue to improve the quality of consultancy and proposal to perfect mechanisms and policies, especially decrees and circulars that internalize international commitments under FTAs to which Vietnam is a member.

It is necessary to innovate and improve the efficiency of trade promotion activities, promote the development of e-commerce, especially cross-border e-commerce, and boost the development of supply chains and commodity circulation. Enhancing the capacity for trade remedies and early warning mechanisms about the risks of trade cases in overseas markets is crucial, as is guiding enterprises and associations on how to respond promptly and effectively to trade cases to protect the legitimate interests of Vietnamese businesses in international trade.

Second, ministries, sectors, and localities should continue to coordinate, remove difficulties, and create favorable conditions to promote the production and exports of enterprises. They should actively negotiate to open up more export markets for Vietnamese goods, especially agricultural and aquatic products. Additionally, they should focus on implementing solutions and policies to orient credit into production and business activities, prioritizing the import-export sector, to facilitate enterprises’ access to credit for production and export activities.

Third, import-export enterprises, associations, and industries should closely monitor the market and respond flexibly to market changes to organize suitable and efficient production and import-export plans. They should promote formal exports associated with building product brands. Proactive coordination with units of relevant ministries and sectors is essential to promptly receive information about the needs, regulations, and new policies of overseas markets for member enterprises.

In addition, they should increase the organization of training courses on skills to penetrate target markets and actively participate in policy criticism and provide comments to relevant ministries and sectors in building import-export policies and negotiating FTAs.

LAUNCH OF THE VIETNAM IMPORT AND EXPORT REPORT 2024

Within the framework of the “Vietnam Import and Export: Honor – Announcement – Connection – Cooperation” event, the Department of Import and Export organized a ceremony to announce the Vietnam Import and Export Report 2024.

The Vietnam Import and Export Report is the official document of the Ministry of Industry and Trade on the import and export situation of each group of goods and markets, the exploitation of opportunities from FTAs, and the management of import and export activities. Over the years, the report has provided transparent and systematic information and has been trusted and highly appreciated by management agencies, enterprises, associations, research institutions, and training organizations.

Launch ceremony of the Vietnam Import and Export Report 2024.

According to the report, in 2024, against a more positive macroeconomic backdrop than in 2023, along with the strong involvement of the government, ministries, and sectors, and the resilience of the business community, import and export activities experienced a robust recovery. They made a significant contribution to the overall economic growth and helped stabilize the macroeconomy.

Over the eight years of its publication, the Vietnam Import and Export Report 2024 has gathered relatively comprehensive information, not only on import and export activities but also on the management activities of agencies under the Ministry of Industry and Trade and other ministries and sectors.

The Ministry of Industry and Trade considers the annual compilation of the Vietnam Import and Export Report as one of its critical tasks, reflecting its spirit of support, creation, and companionship with businesses, industry associations, and contributing to the highest achievement of the Government’s socio-economic goals.

“Following the success of previous editions, this year, we will continue to launch the Vietnam Import and Export Report 2024. Hopefully, this edition will serve as an essential handbook, providing valuable information to state management agencies at all levels, research institutes, training institutions, associations, industries, and the business community, thereby serving research, management, and direction purposes. It will also help to exploit opportunities for exports to potential markets and promote sustainable exports,” Minister Nguyen Hong Dien said.