Vietnam's trade turnover hits historic US$1 trillion milestone

According to data released by Vietnam Customs, exports earned approximately US$ 493.64 billion, up 27.2% year-on-year, while imports totaled US$ 507.66 billion, a 37.6% increase. Full-year export growth is projected to exceed 25%, surpassing government targets.

Since joining the World Trade Organization (WTO), the country’s trade volume has steadily expanded, rising from US$ 100 billion in 2007, US$ 200 billion in 2011, US$ 300 billion in 2015, US$ 400 billion in 2017, US$ 500 billion in 2019, US$ 600 billion in 2021, US$ 700 billion in 2022, and US$ 900 billion in 2025 to officially cross the US$ 1 trillion mark in 2026.

From 2016 to 2025, total trade hit US$ 6.12 trillion, averaging US$ 612 billion annually with an average growth rate of 11% per year. Trade volume grew 2.65 times from US$ 351.38 billion in 2016 to US$ 929.92 billion in 2025, an increase of US$ 578.54 billion.

Vietnam currently ranks 18th globally in exports and 20th in imports, maintaining its position as the second-largest trading economy in ASEAN behind Singapore.

Market expansion and driving forces

Expanded trade partnerships and free trade agreements (FTAs) have stimulated export growth and product diversification, particularly in agricultural and aquatic products. As of October 29, Vietnam maintains commercial relations with 237 countries and territories, with 36 export markets and 31 import markets exceeding US$ 1 billion in trade value.

Regulatory reforms, administrative cost reductions, and customs modernization, including risk management and round-the-clock digital processing, have simplified procedures and reduced compliance costs. Enforcement against smuggling, trade fraud, origin misrepresentation, and intellectual property infringement has also been intensified to protect legitimate businesses.

FDI contribution and key sectors

Foreign direct investment (FDI) enterprises accounted for US$ 778 billion in trade value, representing 77.5% of the national total and a 37% increase year-on-year. Domestic enterprises contributed approximately US$ 223 billion, up 16%.

Exports to FTA partner markets grew significantly, including Japan (up 18.6%), the RoK (up 19.1%), Canada (up 14.4%), and Mexico (up 42.5%). China and the United States remained Vietnam’s largest trading partners.

By product category, three groups led trade volume: computers, electronic products, and components; phones and components; and machinery, equipment, and spare parts. Combined trade for these categories stood at US$ 532 billion, accounting for 54% of the national total and increasing 49% year-on-year.

Amid global economic fluctuations, the customs sectors continue implementing government directives to facilitate trade, ensure economic security, and support businesses in expanding international markets.

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