Vietnam has officially joined the top 15 countries with the largest trade volumes globally, after its total import-export turnover surpassed $801 billion as of November 15, 2025. This marks an all-time high, even exceeding the Ministry of Industry and Trade’s September forecast of $800 billion. In the first half of November alone, two-way trade reached $38.35 billion—a strong indicator of sustained economic growth amid global volatility.
The primary driver is the manufacturing sector, which directly benefits from the free trade agreements (FTAs) Vietnam has signed. Leading exports include computers and electronics ($4.8 billion), machinery and equipment ($2.36 billion), phones and components ($2.16 billion), textiles ($1.39 billion), and footwear (over $1 billion).
Seafood exports continue to surge, reaching $9.32 billion (up 13.1% year-on-year), with shrimp alone contributing $3.9 billion (up 22%). Key markets like China, the U.S., Japan, and Australia are driving strong demand. Textiles achieved $32.9 billion in the first 10 months (up 7.6%), with the U.S. market alone reaching $14.81 billion (up 11.3%). Fruits and vegetables also saw positive growth.
Approaching Global Trade Powerhouse Status
Mr. Nguyễn Tuấn Việt, CEO of VIETGO Export Promotion Company, describes this milestone as transformative. The current top 10 global trade nations—including economic superpowers like the U.S., China, Germany, Japan, South Korea, and Singapore—highlight Vietnam’s strategic leap. This reflects its high integration capacity, competitiveness, and economic openness. More significantly, it signals Vietnam’s shift from a developing economy to a major player in global trade.
Mr. Việt emphasizes that economic powerhouses must generate stable foreign exchange through sustainable trade surpluses. While remittances are valuable, exports are the core foreign currency source, bolstering reserves, stabilizing exchange rates, and enhancing resilience to global shocks. “A nation cannot be strong if it imports more than it exports. Sustained trade surpluses are essential for accumulation and elevated global standing,” he notes.
In 2024, Vietnam’s total trade volume reached $786.29 billion. By 2025, nearly a decade of double-digit growth propelled trade to nearly $900–950 billion. A projected $30 billion surplus strengthens market confidence and macroeconomic stability amid global economic uncertainty.
Notably, Vietnam trails only India—a nation with 14 times its population, strong IT capabilities, and leading rice exports—in trade volume. However, India’s trade surplus over Vietnam is minimal. Mr. Việt predicts: “At current rates, Vietnam could surpass India within one to two years.”
Domestic enterprises are also gaining strength. Contrary to beliefs that export growth relies heavily on FDI, recent data shows narrowing gaps between domestic and FDI export volumes. This highlights Vietnamese firms’ advancements in technology, production scale, and international standards compliance.
According to Mr. Việt, many local companies have leveraged partnerships with foreign corporations to enhance production processes, technology, quality management, and supply chain operations. As domestic capabilities strengthen, Vietnam’s export growth could accelerate further. Total exports in 2024 reached approximately $400 billion, with 2025 projections hitting $450–500 billion—matching or exceeding 2024 GDP. “Few nations achieve this ratio, demonstrating Vietnam’s economic momentum,” Mr. Việt observes.
Mr. Nguyễn Tuấn Việt, CEO of VIETGO Export Promotion Company.
Targeting the $1 Trillion Milestone
The 2025 trade achievements underscore stable policy implementation, political stability, and one of the world’s most extensive FTA networks. Modern agreements like CPTPP, EVFTA, and RCEP have expanded market access, enhancing Vietnamese goods’ competitiveness in Europe, North America, and Northeast Asia.
A favorable business environment, competitive costs, and strategic geopolitical positioning continue to make Vietnam a global supply chain hub. This attracts high-quality FDI while expanding domestic firms’ production and export capacities.
Looking ahead, experts see vast export growth potential. Key sectors like agriculture—particularly coffee, which could reach $10 billion for the first time—along with textiles, wood, steel, construction materials, and consumer goods are expected to surge. Vietnam’s logistical advantages, situated on critical global shipping routes, further bolster export prospects.
Mr. Nguyễn Tuấn Việt concludes: “The $801 billion milestone isn’t just a number—it’s proof of Vietnam’s integral role in global trade. Maintaining this growth, 2025 could see Vietnam approach $1 trillion, elevating its global standing to new heights.”
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