Import-export turnover of goods in 2025 may reach a new milestone of about 900 billion USD

Speaking at the regular press conference for the third quarter of 2025 organized by the Ministry of Industry and Trade on the afternoon of October 8, Mr. Bui Huy Son, Director of the Department of Planning, Finance and Enterprise Management, said that import and export continued to be a bright spot of the economy with total import and export turnover in the first 9 months reaching 680.6 billion USD, up 17.3% over the same period last year.

Of which, exports in the third quarter of 2025 reached 128.57 billion USD, up 18.4% over the same period last year and up 9.6% over the second quarter of 2025. In the first 9 months, the total export turnover of goods reached 348.74 billion USD, up 16.0% over the same period last year, far exceeding the 12% growth target set for the whole year (the domestic economic sector reached 85.41 billion USD, up 2.0%, accounting for 24.5% of total export turnover; the foreign-invested sector (including crude oil) reached 263.33 billion USD, up 21.4%, accounting for 75.5%). In the first 9 months, there were 32 items with an export turnover of over 1 billion USD, accounting for 93.1% of total export turnover (there were 7 items with export turnover of over 10 billion USD, accounting for 67.9%).

Regarding the export market structure, the US is still our country's largest export market (reaching 112.8 billion USD, up 27.7%); followed by the Chinese market (reaching 49.6 billion USD, up 11.3%); the EU (reaching 41.7 billion USD, up 9.3%); ASEAN (reaching 28.5 billion USD, up 2.9%) and Japan (reaching 19.7 billion USD, up 9%).

Regarding the structure of export goods, the processing industry group contributed the most to the country's overall export growth in the first 9 months of 2025, with a turnover of 297.2 billion USD, up 16.7% over the same period in 2024 and accounting for 85.2% of total export turnover. In particular, key products such as: phones, computers, components, textiles and footwear continued to maintain their leading position, affirming the pivotal role of the processing industry in international trade.

In addition, the export turnover of agricultural products is estimated at 33.2 billion USD, an increase of 15.2% and accounting for 9.5% of the country's total export turnover.

Imports in the third quarter of 2025 reached 119.66 billion USD, up 20.2% over the same period last year and up 6.3% over the second quarter of 2025. In the first 9 months, import turnover reached nearly 332 billion USD, up 18.8%. Of which, the domestic economic sector reached 105.67 billion USD, up 4.6%; the foreign-invested sector reached 226.25 billion USD, up 26.8%.

Regarding the import market structure, China is still our country's largest import market (reaching 134.4 billion USD, up 27.9%); followed by the Korean market (reaching 44.4 billion USD, up 7%); ASEAN (reaching 39.1 billion USD, up 14.5%), Japan (reaching 18.2 billion USD, up 13.2%); the United States (reaching 13.7 billion USD, up 23.6%).

In the first 9 months of the year, the proportion of goods requiring import accounted for a large proportion (89%) in the structure of imported goods of the whole country and grew strongly (up 19.5%) showing that the demand for input materials and machinery to serve domestic production activities is large, reflecting the recovery of industrial production. In addition, the group of goods requiring import control accounted for only 5.2% and the group of other goods accounted for 5.3% of total import turnover.

Thus, the import growth rate (18.8%) higher than export (16%) shows a positive signal of domestic production recovery but also creates some pressure on the trade balance.

The representative of the Ministry of Industry and Trade said that the trade balance continued to maintain a trade surplus of 16.8 billion USD, making an important contribution to the macro balance and foreign exchange reserves of the economy. Of which, the domestic economic sector had a trade deficit of 20.26 billion USD; the foreign-invested sector (including crude oil) had a trade surplus of 37.08 billion USD.

“In general, with the current situation, if there are no unusual fluctuations, the Industry and Trade sector is on the right track to achieve the set goals in 2025 and it is expected that the total import-export turnover of goods for the whole year can reach a new milestone of about 900 billion USD,” said Mr. Bui Huy Son.

Mr. Bui Huy Son added that although the results in the third quarter and the first 9 months of 2025 were very positive, it is still necessary to closely monitor the situation to promptly respond because there are still potential difficulties and challenges (in addition to the US's reciprocal tax, some key markets have temporarily stopped importing Vietnamese rice, most recently the new decree on tax on imported wooden furniture from the US (from October 14, 2025, softwood and sawnwood imported into the US will be subject to a 10% tax; kitchen cabinets, bathroom cabinets and upholstered wooden furniture products will be subject to a 25% tax). From January 1, 2026, the tax rate on upholstered furniture will be 30%; kitchen cabinets and bathroom cabinets will be 50%, which will affect the export of the product group).

To complete the 2025 plan tasks, in the coming time, the Industry and Trade sector will focus on actively and effectively implementing the assigned tasks in Resolution No. 02/NQ-CP dated January 8, 2025; Resolution No. 25/NQ-CP dated February 5, 2025 on growth targets for sectors, fields and localities to ensure the national growth target in 2025 reaches 8% or more; Resolution No. 154/NQ-CP dated May 31, 2025 of the Government on main tasks and solutions to implement the Socio-Economic Development Plan and State budget estimates with the growth target in 2025 reaching 8% or more; Resolution No. 226/NQ-CP dated August 5, 2025 of the Government on growth targets for sectors, fields, localities and key tasks and solutions to ensure the country's growth in 2025 reaches 8.3% - 8.5%.

Along with that, perfecting institutions, reviewing, supplementing, amending or advising competent authorities on legal documents; researching solutions to promote growth such as: Promoting and removing institutional bottlenecks to free up all resources for economic growth; Continuing to promote and renew traditional growth drivers and promoting new growth drivers; Promoting production, removing backlog projects, mobilizing social resources, etc.

The Ministry will continue to promote exports, diversify markets, and expand exports. At the same time, it will closely monitor developments in US tariff policies and proactively coordinate with relevant agencies on both sides to discuss, clarify, and resolve emerging issues, limiting the risk of applying more unfavorable measures to Vietnamese goods.

The Ministry also focuses on completing the launch of negotiations on two FTAs between Vietnam and Mercosur and the Gulf Cooperation Council (GCC) in the fourth quarter of 2025; Promoting the early launch of negotiations with Pakistan to expand opportunities in export markets; Early conclusion of FTA negotiations between Vietnam and the EFTA bloc in 2025.

At the same time, closely monitor to promptly overcome the export limitations of domestic enterprises to support exports, reduce dependence on FDI. Accordingly, continue to accompany enterprises in removing difficulties, through regularly organizing dialogues, working with industry associations and localities to promptly grasp the situation, thereby advising the Government to issue appropriate support policies.

In particular, strengthen trade promotion activities, connect supply and demand, and promote products to help businesses expand access to new customers, while strengthening trust with traditional partners in the US market. Strengthen enforcement of regulations on goods origin through inspection, supervision, licensing and handling of violations; strengthen state management and combat evasion of trade defense measures and origin fraud...

Source: https://baotintuc.vn/kinh-te/kim-ngach-xuat-nhap-khau-hang-hoa-nam-2025-co-the-dat-moc-moi-khoang-900-ty-usd-20251008145531669.htm