Investments

International Trade Remains a Bright Spot for the Economy

The Minister of Industry and Trade anticipates that, at the current pace, Vietnam's total import-export turnover for 2025 could reach approximately $920 billion or higher, positioning the country among the top 15 nations with the largest trade volumes globally.

Administrator

8 December, 2025

Minister of Industry and Trade Nguyen Hong Dien reported at the Government’s regular meeting – Photo: VGP

On the morning of December 6th, during the Government’s regular November 2025 meeting, Minister of Industry and Trade Nguyen Hong Dien reported that despite severe flooding disrupting production and business activities in many regions, the industry and trade sector maintained positive growth in November.

According to Minister Nguyen Hong Dien, the industrial growth rate in November increased by 2.3% compared to October, a significant achievement given that many localities were paralyzed for at least half a month. This reflects the strong efforts of ministries, sectors, localities, and the business community.

Over the first 11 months, the entire industrial sector grew by 10.8% year-on-year; specifically, the manufacturing and processing industry increased by 10.6%, the highest growth rate since the beginning of this term.

Regarding electricity supply, the Minister stated that despite storms severely affecting the power grid in the North and Central regions, electricity supply remained stable and safe for both production and daily life.

The undersea cable fault from Ha Tien to Phu Quoc, caused by coastal road construction, was resolved last night at around 10 PM. “Thus, electricity supply to Phu Quoc has been ensured,” the Minister emphasized.

Domestic trade also continued to grow. Total retail sales and service revenue for the first 11 months are estimated to increase by 9.1% year-on-year. The supply of goods is abundant, prices are stable, and consumer demand is well met. Market management has shown positive changes, with no shortages of goods, especially in flood-affected areas.

Regarding petroleum, the Minister affirmed that supply is guaranteed. The current pricing mechanism is considered highly appropriate, with domestic prices closely following global trends.

Import-export activities remain a bright spot for the economy. In November, the total import-export turnover reached approximately 77 billion USD, a 15.6% increase year-on-year despite a decrease from the previous month. As of November 30th, the total import-export turnover reached 840 billion USD, with a trade surplus of 20.53 billion USD.

The Minister predicted that with the current momentum, Vietnam’s total trade in 2025 could reach around 920 billion USD or higher, placing it among the top 15 countries with the largest trade volumes globally.

Despite the impact of U.S. countervailing duties, exports to the U.S. market in the first 11 months still increased by 27%, thanks to pre-existing orders, particularly from January to August before the duties were imposed.

However, since the U.S. imposed duties in August 2025, monthly export turnover has shown a downward trend: August decreased by 1.97% compared to September; September decreased by 1.5%; October decreased by 1.3%; and November saw a significant drop of 7.1%.

In addition to the impact of duties, the Minister noted that flooding also affected monthly export growth.

Nevertheless, compared to the same period last year, exports to the U.S. still increased significantly: August by 18.3%; September by 38.5%; October by 26.9%; and November by 23%.

The Government’s regular November 2025 meeting on the morning of December 6th – Photo: VGP

To achieve the 2025 growth target and lay the foundation for subsequent years, Minister Nguyen Hong Dien proposed focusing on supporting flood-affected residents and businesses in recovery efforts; expediting policies to restore agricultural production and stabilize livelihoods; and launching a rapid campaign to rebuild damaged homes.

Continued efforts to remove obstacles for businesses, especially in flood-affected areas, are essential to boost investment and production. Administrative procedure bottlenecks, particularly those arising from the two-tier local government model, must be addressed.

The effective implementation of Resolution No. 70-NQ/TW dated August 20, 2025, by the Politburo on ensuring national energy security until 2030 with a vision to 2045, along with the Government’s action program, is crucial. Decisive steps should be taken to select investors for energy and mineral projects.

Domestic market development should be prioritized through consumption stimulation, price stabilization, and trade promotion during the Lunar New Year. Preparations for the Spring Fair, public investment disbursement, and events celebrating the 14th National Party Congress and year-end tourism promotion are also key.

Enhancing foreign affairs and international economic integration, along with supporting businesses in effectively leveraging free trade agreements and accessing traditional and potential markets, especially those with high growth potential, remains a focus.

Han Dong

– 16:10 06/12/2025