Vietnam among world’s top 15 countries by im-export value: ministry

Vietnam’s import-export turnover is expected to reach $920 billion for the first time in 2025, placing the country among the world’s top 15 by trade value, according to the Ministry of Industry and Trade (MoIT).

This figure represents a 17% increase compared to 2024. Of the total, exports are estimated to exceed $470 billion, up 16% year-on-year, resulting in a trade surplus of about $22 billion.

This marks the 10th consecutive year of a trade surplus since 2016, said Deputy Minister Phan Thi Thang at the ministry’s year-end review conference on Friday.

Thang noted that Vietnam’s import-export activities have grown continuously in recent years. From the $100 billion milestone in 2009, total trade turnover has increased ninefold over the past 16 years. The number of export products with a value exceeding $1 billion has risen rapidly, from 10 in 2007 to 36 today.

Export markets have continued to expand, with the number of markets recording over $1 billion in trade rising from 27 in 2013 to 35 by the end of last year.

The MoIT, in coordination with other ministries and agencies, has this year opened up large and promising markets in the Middle East, Africa, Southern Europe, and the UAE; completed negotiations and signed several important trade agreements; and increased the total number of free trade agreements (FTAs) signed and under implementation to 17.

The sector has also played a key role in reciprocal trade negotiations with the U.S., securing the most favorable commitments for Vietnam, she said, noting that the U.S. remains the country’s largest export market.

Domestically, the market has remained stable, with solid growth of around 9-10%, serving as a key pillar for macroeconomic stability. E-commerce has surpassed $30 billion, growing by 25% and accounting for two-thirds of Vietnam’s digital economy.

Industrial production has recovered strongly, with the Index of Industrial Production (IIP) estimated to rise 9.5% in 2025, the highest increase since the Covid-19 pandemic. In particular, the manufacturing and processing sector is expected to grow 10.6%, continuing to drive economic growth.

However, Thang cautioned that despite rapid export recovery, growth lacks sustainability, with the foreign sector accounting for a large proportion. Moreover, Vietnam remains dependent on a few major markets and faces pressure from trade defense investigations and origin fraud. Meanwhile, the development of the domestic market and e-commerce remains limited.

In his remarks, Prime Minister Pham Minh Chinh reiterated the goal of achieving double-digit growth in the coming period. He emphasized that the industry and trade sector must exceed 10% growth, revitalize traditional growth drivers such as exports and consumption, and promote new engines.

On market diversification, the cabinet leader said the sector, together with Vietnam’s trade offices abroad, should focus on niche markets and study products that those markets demand, rather than promoting only what is available domestically.

Vietnam among world’s top 20 largest power systems

At the conference, Thang also reported that by the end of 2025, Vietnam’s power system is expected to reach a capacity of around 90,000 MW, ranking first in Southeast Asia and placing the country among the world’s top 20 largest power systems.

In implementing national power and key energy network plans, the MoIT has advised on the approval of Power Development Plan VIII and its revised version, and the National Energy Master Plan.

The 500 kV Circuit 3 transmission line and the 500 kV Lao Cai-Vinh Yen line were completed in record time. The first LNG gas-to-power complex has been put into operation in Dong Nai province, while a chain of oil, gas, and offshore wind power projects, along with other key energy works, has also been developed.

A notable achievement has been breakthroughs in institutional development. During 2021-2025, the MoIT led the drafting and submission of six laws for promulgation, including the Law on Petroleum, Law on Protection of Consumer Rights, Law on Electricity, amended Law on Chemicals, amended Law on Economical and Efficient Use of Energy, and the Law on E-commerce.

In addition, the ministry developed 65 decrees, 216 circulars, and over 20 key strategies, plans, and projects, creating a solid legal foundation for the medium- and long-term development of Vietnam’s industrial and trade sectors, Thang added.