Turn challenges into opportunities.

The export growth target of 12% is quite challenging given the risky market conditions, requiring businesses to diversify their markets.

The 2025 export target is a challenging one.

Exports and imports in the first month of 2025 only reached over $63 billion, a decrease in both exports and imports, making the export growth target for the whole year 2025 a significant challenge.

The target for 2025 is to increase merchandise export turnover by 10-12% compared to 2024.

According to data from the General Department of Customs, in January 2025, goods exports reached only US$33.2 billion, a decrease of 6.6% compared to the previous month and a decrease of 4% compared to the same period last year. Conversely, goods imports in January 2025 reached over US$30 billion, a decrease of 14.1% compared to the previous month and a decrease of 2.6% compared to the same period in 2024. Thus, in the first month of the year, Vietnam had a trade surplus of over US$3 billion.

The reason for the decrease in import and export turnover in January compared to the same period last year is due to the Lunar New Year holiday in 2025, while last year's Lunar New Year holiday fell in February 2024.

Speaking with a reporter from the Industry and Trade Newspaper, Associate Professor Dr. Dinh Trong Thinh – an economic expert – said that export orders by the end of November 2024 had decreased compared to the end of November 2023. This is a cause for concern.

Diversify markets to avoid trade shocks.

In 2024, the total import and export turnover of the whole country was 786 billion USD, an increase of 15.4%. Of which, exports reached nearly 406 billion USD, an increase of 14.3%. In 2025, the industry and trade sector aims for an export turnover increase of 12% compared to the previous year.

The good news is that since the beginning of the year, the number of orders for wood, textile, and footwear products from key export markets has increased, which is a positive sign that Vietnam's export activities can reach their targets. However, this is conditional on Vietnamese goods meeting the requirements of the export markets.

As a business operating in the wood processing and export industry, Mr. Trinh Duc Kien - Deputy Director of Ke Go Co., Ltd. - said that the company has orders booked until the end of the first quarter of 2025. After the Lunar New Year, some customers from the US and EU markets also contacted them to inquire about deals; however, the process from offering a product to closing a deal depends on many factors, including whether the company can meet the customer's requirements.

From a more positive perspective, many believe that Vietnam is one of the 20 most open economies in the world . Therefore, participating in most Free Trade Agreements (FTAs) with numerous countries and economies worldwide will enable us to react quickly and maintain growth momentum in the face of potential global trade wars.

Of these, 17 FTAs ​​are creating a huge competitive advantage for Vietnamese goods, allowing them to access over 60 global markets and acting as a lever for export growth. More importantly, this strengthens the foundation of Vietnamese goods and their ability to adapt to market fluctuations.

In the agricultural sector, just the 7 FTAs ​​between Vietnam and countries in the region have enabled more than 40 processed agricultural products from Dong Giao Export Food Joint Stock Company to access 25 markets.

Mr. Nguyen Huu Hieu – Director of Export Business – Dong Giao Export Food Joint Stock Company – stated that each market has different tastes and characteristics. Since agricultural products are seasonal, in addition to meeting quality requirements, businesses must also plan to ensure sufficient production throughout the year to meet customer demands.

Regarding the wood industry, Mr. Nguyen Thanh Lam - CEO of Lam Viet Joint Stock Company - stated that the company's annual export revenue from wood and furniture is approximately 30 million USD. Currently, Lam Viet's products are primarily exported to three main markets: the United States, the EU, and the United Kingdom. To achieve this result, the company has successfully met the high standards of these markets, from tracing the origin of raw materials to complying with green and sustainable standards. In the context of a volatile market, the company is also striving for greater flexibility to secure more orders and customers.

To maintain its export position, Associate Professor Dr. Dinh Trong Thinh said that, in addition to expanding export market search, first and foremost with the 17 FTAs ​​that Vietnam has signed with partners, businesses need to maximize their use to increase export value, as well as expand to other countries, in order to diversify export investment, reduce excessive dependence on one country, and thus avoid "shocks" when there are changes in trade policy.

In addition, Associate Professor Dr. Dinh Trong Thinh also recommended that relevant authorities find solutions to increase imports from the US, especially machinery, equipment, and modern technology. This would transform the capacity of domestic production, increase labor productivity, and create sustainable growth in the future.

"Vietnam could also consider increasing imports of consumer goods, including aircraft and civilian vehicles, to balance the trade deficit with this partner," said Mr. Dinh Trong Thinh.

In its recently published Global Trade Outlook Update, the World Trade Organization (WTO) raised its forecast for global merchandise trade growth in 2025 to 3.3%, a 0.3% increase from its previous forecast. Growth opportunities remain for countries with the world's largest trade volumes, such as Vietnam.

Given the continued complex and unpredictable developments in the global geopolitical landscape, numerous uncertainties present significant opportunities for exports, along with challenges that necessitate accelerated improvements in production for Vietnam's key export sectors this year.

Source: https://congthuong.vn/xuat-khau-hang-hoa-bien-thach-thuc-thanh-co-hoi-373107.html