The Ministry of Industry and Trade is striving to achieve 12% growth in exports and imports.

The Ministry of Industry and Trade has been implementing various solutions to achieve a 12% growth rate in import and export activities by 2025.

Fewer working days, slight decrease in imports and exports in the first month of the year.

According to the latest report from According to the Ministry of Industry and Trade, due to the fewer working days in January 2025 compared to January 2024, the value of goods exports and imports in January 2025 decreased compared to the previous month and compared to the same period last year. The total value of goods exports and imports in January 2025 is estimated at 63.15 billion USD, a decrease of 10.5% compared to the previous month and a decrease of 3.5% compared to the same period last year.

Specifically, merchandise exports in January 2025 reached US$33.09 billion, a decrease of 6.9% compared to the previous month. Compared to the same period last year, merchandise exports in January 2025 decreased by 4.3%. In January 2025, seven product categories achieved export turnover exceeding US$1 billion, accounting for 67.9% of total export turnover. Several key export items experienced high double-digit growth (such as iron and steel products, up 14.1%; computers, electronic products and components, up 13.3%).

The Ministry of Industry and Trade aims for a 12% growth in import and export by 2025 (Photo: Can Dung)

Conversely, trade turnover import Goods imported in January 2025 reached US$30.06 billion, a decrease of 14.1% compared to the previous month. In January 2025, three imported items exceeded US$1 billion in value, accounting for 49.3% of total import turnover.

The trade balance for goods in January 2025 is estimated to have a surplus of US$3.03 billion (compared to a surplus of US$3.7 billion in the same period last year). Of this, the domestic economic sector had a trade deficit of US$1.4 billion; while the foreign-invested sector (including crude oil) had a trade surplus of US$4.43 billion.

Although import and export turnover showed a slight decrease in the first month of the year, the overall picture of goods import and export also has some noteworthy bright spots.

The first, Regarding the structure of import groups in January 2025, the estimated import value reached US$26.87 billion, accounting for 89% of the country's total merchandise import value. This indicates that businesses have been increasing imports of raw materials and components for production to meet the needs of export production and domestic consumption in the coming months.

Monday, Exports to the Chinese market reached US$4.6 billion, a 25.2% increase compared to the same period last year. China is already Vietnam's largest trading partner, so the continued growth in exports to this market shows that businesses have been effectively leveraging the geographical proximity to boost exports to this market.

Businesses are increasing imports to serve production and export (Photo: VNA)

Notably, on February 6, 2025, a signing ceremony for the acceptance and handover of the office building and equipment for the Agricultural and Food Products Testing Center (CCIC) at the Bac Luan II Bridge border gate took place in Mong Cai City, Quang Ninh province. The laboratory, with a total area of 430m2, is designed and equipped with modern equipment according to international ISO 17025 standards, with a total investment of 30 billion VND. The addition of product quality testing units will create good opportunities for Vietnamese goods exported to China in particular and to other markets in general.

Increase measures to promote import and export of goods.

To increase import and export of goods in the coming period, the Ministry of Industry and Trade has determined that it will support businesses in taking advantage of commitments in FTA agreements to boost exports, through disseminating information on rules of origin, opportunities, and ways to take advantage of opportunities from these agreements.

In addition, it is necessary to strengthen the provision of market information on digital platforms to localities, industry associations, and businesses.

The Ministry of Industry and Trade also aims to support the development and implementation of large-scale, focused trade promotion activities with regional linkages for products and industries that are strengths of the region in target markets. At the same time, it will accelerate negotiations and the signing of new trade agreements and commitments; and coordinate with the Ministry of Agriculture to negotiate the opening of more fruit categories for official export.

For neighboring markets, the Ministry of Industry and Trade has been making efforts to promote a rapid and strong shift towards formal trade channels.

Furthermore, we urge the EU to lift the IUU yellow card on Vietnam's seafood exports as soon as possible. We also promote the development of supporting industries to increase the added value in export products…

According to the recently published Vietnam Economic Research Report 2024 and Outlook 2025 by KPMG, Vietnam's export prospects in 2025 may face significant challenges, particularly tariffs from some major markets. However, the advantages from the wave of manufacturing relocation from China to Vietnam will partially offset these difficulties.

“In this context, by 2025, businesses need to diversify their trade and investment partners beyond traditional markets; address labor and skills shortages to support growth,” the KPMG report clearly states.

From the business perspective, Mr. Than Duc Viet, General Director of May 10 Corporation, stated that, contributing to the 12% growth target for import and export activities this year, the textile and garment industry aims for exports of 47-48 billion USD, an increase of 3-4 billion USD compared to last year. Vietnam is an important link in the global textile and garment supply chain, but to achieve the growth target, each enterprise must seize market opportunities, exploit the advantages from signed free trade agreements (FTAs), expand its customer base, and enter new markets… to achieve the growth target.

From a business perspective, in an interview with a reporter from the Industry and Trade Newspaper, Dr. Le Quoc Phuong – former Deputy Director of the Center for Industry and Trade (Ministry of Industry and Trade) – stated that, in the context of countries being ready to use defense mechanisms to protect domestic goods, export businesses need to outline scenarios to be prepared to respond to this. In addition, they should continue to maintain their market presence and implement solutions to invest in technology and optimize production costs to reduce prices and increase profits.

Businesses also need to continue diversifying their markets, implementing a "don't put all your eggs in one basket" strategy to avoid potential risks from import markets.

“On the part of the Ministry of Industry and Trade, it is necessary to continue efforts to promote the role of Vietnamese trade offices abroad in providing timely information on policy changes from import markets as well as potential for Vietnamese exports. At the same time, it is important to do a good job of export promotion and early warning systems to protect Vietnamese goods abroad,” Dr. Le Quoc Phuong stated.

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