Import and export continue to set records
After nearly 40 years of renovation, the Vietnamese economy has made strong changes, gradually implementing multilateral and diversified foreign policies, taking advantage of opportunities for trade cooperation, investment, integration and technology transfer to develop the country's economy. In particular, Vietnam's import-export activities have made remarkable progress, continuously reaching record milestones.
At the 6th National Party Congress (1986), commodity exports were identified as one of the three important fronts of the economy in the renovation period (along with food production, food and consumer goods). At the Mid-term Conference (Term VII), Vietnam's economic development strategy was affirmed as "perseverance towards export and effective replacement of imports of some domestically produced products".
After many years of efforts, in 2012, Vietnam's export turnover exceeded the 100 billion USD mark; in 2017 it exceeded 200 billion USD; and in 2021 it reached more than 300 billion USD. By 2024, the total value of import and export turnover of goods will reach a record of 786.29 billion USD, of which exports will exceed 400 billion USD for the first time. In the first quarter of 2025, Vietnam's total import-export turnover will reach 202 billion USD, the highest in the first quarter of the 2016-2025 period. These are important achievements in Vietnam's efforts to develop international trade.
Associate Professor. Dr. Nguyen Thuong Lang assessed that the remarkable development of Vietnamese import and export in recent years is a testament to the efforts of the entire economy. Vietnam has become one of the countries with the most vibrant international trade activities in Southeast Asia, contributing to enhancing its position and promoting sustainable economic development.
"One of Vietnam's outstanding achievements is the diversification of export products. Our country is not only famous for agricultural products such as rice, coffee, and tea, but also gradually affirms its position in the processing industry such as textiles, footwear, and electronics. Products such as mobile phones and electronic components have become the main export commodities, contributing significantly to total export turnover Associate Professor. Dr. Nguyen Thuong Lang commented.
According to Associate Professor. Dr. Nguyen Thuong Lang, the signing of many free trade agreements (FTAs) has helped Vietnam expand its export market. Agreements such as the CPTPP and EVFTA have created conditions for Vietnamese goods to access large and potential markets such as Europe, North America and Asia. These agreements not only help reduce export taxes but also facilitate trade, thereby enhancing the competitiveness of Vietnamese goods in the international market.
Diversifying the market towards sustainable exports
In addition to the achievements, Associate Professor. Dr. Nguyen Thuong Lang also pointed out that Vietnam is facing many challenges in import and export. International competition is increasingly fierce, especially from countries with more developed manufacturing. Vietnam still depends on imported input materials, creating great pressure. High logistics costs and incomplete infrastructure are also major barriers. In particular, the US announcement of countervailing tariffs will have a strong impact on exports and affect many economic sectors.
According to the Ministry of Industry and Trade, many traditional markets are showing signs of stagnation, even posing a risk of declining import demand. Therefore, proactively exploiting emerging markets, wholesale markets or alternative markets is an urgent requirement.
Mr. Le Hoang Tai - Deputy Director of the Trade Promotion Agency (Ministry of Industry and Trade) - said that exploiting new markets is not only a direction to diversify markets, but also helps us increase the sustainability of export turnover, reduce dependence on a few key markets.
We pay special attention to taking advantage of opportunities from the Free Trade Agreements (FTAs) that Vietnam has signed. Effective exploitation of FTAs is not only a story of tax reduction, but also of improving product quality, standardizing and restructuring the supply chain according to international standards," said Mr. Le Hoang Tai.
