The August meeting on trade promotion with the system of Vietnamese trade offices abroad focused on diversifying export markets and products, and diversifying import supply sources to boost import and export turnover growth in 2025.
Mr. Vu Ba Phu, Director of the Trade Promotion Department ( Ministry of Industry and Trade ), emphasized that the import and export targets assigned by the Government to the Ministry of Industry and Trade this year are extremely challenging but also full of expectations: Total merchandise export turnover is expected to increase by 12% and the trade surplus will reach approximately 30 billion USD. This is an important preparatory step to move the economy into the 2026-2030 period with the goal of sustainable growth, effectively utilizing the free trade agreements (FTAs) that Vietnam has signed.
The trade picture for the first eight months of 2025 shows many noteworthy positive signs. Total import and export turnover reached nearly 305 billion USD, an increase of 14.4% compared to the same period in 2024, an impressive result in the context of a global economy still fraught with uncertainty, trade conflicts, and geopolitical shifts strongly impacting international supply chains.
Notably, the FDI sector continued to play a leading role with $228 billion, an increase of over 18%, while domestic enterprises reached $76.5 billion, an increase of 3%. This shows that the FDI sector remains superior, but also reflects the limitations in the competitiveness of domestic enterprises. This poses a significant challenge for the Government and the Ministry of Industry and Trade in supporting and enhancing the position of Vietnamese enterprises in the global value chain.
According to Mr. Do Ngoc Hung, Vietnam's Commercial Counselor in the United States, based on US customs data, in the first seven months of 2025, the total bilateral trade between the two countries reached US$114.5 billion. Of this, exports totaled US$106.2 billion, imports US$8.2 billion; resulting in a trade surplus of US$98 billion. Compared to the same period in 2024, total trade increased by 41%; exports to the US increased by 44%; and imports from the US increased by 13%.
“It can be said that trade turnover indicators between the two countries have increased significantly. The US market is considered to be a market with very large import growth. It can be seen that Vietnam's key export sectors to the US have all experienced impressive growth (over 10%), especially some items that have grown by more than 100% such as machinery (HS 84) and toys (HS 95). Vietnam now has nearly 10 export items exceeding or approaching one billion USD to the US market,” Mr. Do Ngoc Hung commented.
However, Mr. Do Ngoc Hung also pointed out the challenges ahead. Currently, the reciprocal tax rate applied to Vietnam is 20%, and the transshipment tax rate is 40%. The current issue is that the US is considering how to determine transshipment goods.
Furthermore, the United States has consistently been the partner that investigates and applies the most trade defense measures against Vietnamese goods. As of September 2025, the United States had investigated 77 cases, accounting for over 26% of the total number of cases investigated by WTO members against Vietnam. Most cases concluded with the imposition of tariffs.
In light of these challenges, Mr. Do Ngoc Hung suggested considering promoting exchanges, negotiations, and the signing of agreements with the US side to create a stable environment, a foundation, and increased market predictability, contributing to maintaining Vietnam's export growth momentum in the remaining months of the year. He also recommended promptly discussing the NOAA's conclusions with the US side to clarify the scope of their impact on Vietnam's seafood exports and to study appropriate response measures and reviews. The Ministry of Industry and Trade should continue trade promotion programs, fairs, and exhibitions to introduce products and seek export opportunities for potentially promising items. Furthermore, he emphasized strengthening early warning systems for trade defense cases to ensure timely information and avoid being caught off guard, which could negatively impact the outcome of defense actions.
According to Mr. Nong Duc Lai, Vietnam's Commercial Counselor in China, Vietnamese data shows that Vietnam-China trade turnover in the first seven months of the year reached US$136.47 billion, a 21.3% increase compared to the same period last year. Exports totaled US$35 billion, a 7.1% increase, while imports reached US$101.4 billion, a 27.1% increase. The trade deficit with China in the first seven months was US$66.4 billion (according to Chinese Customs data, total trade turnover in the first seven months reached US$161.0 billion, an 11.2% increase compared to the same period; of which, Vietnam's exports reached US$50.9 billion, a decrease of 5.1%, and imports from China reached US$110 billion, a 20.7% increase; the trade deficit with China was US$59.1 billion).
Mr. Nong Duc Lai recommended that to boost exports to China in the coming period, Vietnamese businesses need to focus on and continuously improve the quality of agricultural, forestry, and aquatic products. Businesses need to understand and comply with the regulations of importing countries regarding quality standards, packaging, and traceability. Control must be maintained throughout the entire production chain, from cultivation, processing, and preservation to export, ensuring traceability at any stage.
Source: https://baohaiphong.vn/da-dang-hoa-thi-truong-thuc-day-tang-truong-xuat-nhap-khau-520320.html
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