At the 2024 Year-End Conference and 2025 Action Plan Meeting held on December 26 in Hanoi, the Import–Export Department (Ministry of Industry and Trade) announced its ambitious target: increasing total export turnover by 10–12% in 2025.
Strong Export Performance in 2024
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According to Deputy Director General Trần Thanh Hải, Vietnam’s import–export activities in 2024 achieved several key milestones:
1. Robust Export Growth
Vietnam’s total trade turnover in 2024 was estimated at USD 783.4 billion, up 15% year-on-year.
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Exports: USD 403.7 billion (+13.8%)
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Imports: USD 379.6 billion (+16.3%)
Major export sectors such as agriculture, fisheries, and processed industrial goods all recorded impressive increases. The export value of processed industrial goods alone reached USD 342.1 billion, up 13.7%.
2. Market Recovery and Diversification
Most export markets rebounded strongly in 2024.
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ASEAN: USD 33.5 billion (+14.1%)
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EU: USD 47.3 billion (+18.5%)
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South Korea: USD 23.3 billion (+8.6%)
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Hong Kong (China): USD 11.3 billion (+32.3%)
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United States: USD 108.9 billion (+24%)
3. Ninth Consecutive Year of Trade Surplus
Vietnam recorded a trade surplus of USD 24.1 billion in 2024, helping stabilize exchange rates and strengthen macroeconomic indicators.
4. Strong Domestic Export Growth
Domestic enterprises performed impressively, with exports reaching USD 113.7 billion, up 18.9%, outpacing FDI enterprises (USD 290 billion, +11.9%).
5. Import Recovery Reflecting Production Revival
Imports rose 16.3%, reaching USD 379.6 billion, primarily for production materials, machinery, and raw inputs, signaling a rebound in manufacturing and industrial demand.
Challenges and Opportunities Ahead
Despite strong performance, Vietnam’s exports remain highly concentrated in a few major markets, creating exposure to external shocks. Additionally, logistics infrastructure gaps and high transportation costs continue to constrain competitiveness.
Moreover, green production standards, traceability, and environmental compliance requirements in key markets such as the EU and the U.S. are becoming increasingly strict. While these pose challenges, they also open opportunities for Vietnam’s industries to transition toward sustainable and high-value exports.
Import–Export Department’s Key Initiatives
In 2024, the Department:
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Developed 02 Government Decrees and 09 Ministerial Circulars.
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Conducted legal compliance inspections on temporary import–re-export activities, quota-based imports (sugar, salt, tobacco), and border trade agreements.
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Drafted the Vietnam Logistics Development Strategy (2025–2035, vision 2050).
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Coordinated rice export management amid global volatility.
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Managed tariff-quota imports and rules of origin enforcement under FTAs.
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Strengthened logistics services and anti-origin fraud measures.
2025 Outlook: Balanced Strategy Amid Global Uncertainties
While global trade faces uncertainties such as Middle East instability, rising logistics costs, and tightened trade protectionism, Vietnam is expected to benefit from global economic recovery and strong demand from FTA partners.
The Ministry of Industry and Trade aims for:
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10–12% export growth in 2025
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Trade surplus exceeding USD 20 billion
Strategic Actions for 2025
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Enhance research and forecasting on export markets and trade risks.
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Monitor border trade, collaborate with industry associations, and propose timely policy interventions.
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Promote FTA utilization, help businesses navigate new trade barriers, and diversify export markets.
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Implement key trade strategies including:
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Vietnam Export–Import Strategy to 2030
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Rice Export Market Development Strategy (2021–2025, vision 2035)
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Encourage formal border trade and combat trade fraud and origin evasion.