The Ministry of Industry and Trade sets a target of total export turnover increasing by 10-12% compared to 2024. The trade balance continues to have a trade surplus of over 20 billion USD.
The information was given at the Conference to review the work in 2024 and deploy tasks in 2025 of the Import-Export Department (Ministry of Industry and Trade) held on the afternoon of December 26. Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan chaired the Conference.
Exports to the largest market, the United States, have recovered strongly.
At the summary conference, Mr. Tran Thanh Hai - Deputy Director of the Import-Export Department (Ministry of Industry and Trade) - said that import-export activities in 2024 recorded many bright spots.
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| Import and export in 2024 will surpass the target. (Photo: MH) |
Firstly , export turnover grew at a high rate with the positive recovery of key export groups. According to inter-ministerial estimates, the total value of Vietnam's import and export of goods is estimated at 783.4 billion USD, up 15% compared to 2024. Of which, export turnover is estimated at 403.7 billion USD, up 13.8% and import turnover is estimated at 379.6 billion USD, up 16.3%. Agricultural, aquatic and processed industrial products all recorded impressive growth. Exports of processed industrial products reached 342.1 billion USD (up 13.7%).
Second , most export markets have recovered and grown well, and markets that have signed FTAs with Vietnam have achieved high growth. Exports to ASEAN in the first 11 months of 2024 reached 33.5 billion USD, up 14.1% over the same period last year. Exports to the EU reached 47.3 billion USD, up 18.5%. Exports to South Korea reached 23.3 billion USD, up 8.6%; to Hong Kong (China) reached 11.3 billion USD, up 32.3%. In particular, exports to the largest market, the United States, have recovered strongly with export turnover in the first 11 months of 2024 reaching 108.9 billion USD, up 24%.
Third , the trade balance continues to record a trade surplus for the ninth consecutive year. The entire year of 2024 is estimated to have a trade surplus of 24.1 billion USD, contributing positively to the balance of payments, stabilizing the exchange rate and other macroeconomic indicators of the economy.
Fourth, exports from the domestic economic sector recovered well. Accordingly, both the foreign-invested enterprise sector and the 100% domestic-owned enterprise sector recorded good growth in export turnover. Of which, exports from domestic enterprises in 2024 are estimated at 113.7 billion USD, up 18.9%, higher than the growth rate of the FDI sector (estimated at 290 billion USD, up 11.9%).
Fifth , imports recover strongly. Specifically, the import turnover of goods for the whole year of 2024 will recover, reaching 379.6 billion USD, up 16.3% compared to 2023, mainly to serve production and consumption. The import of components, machinery, and input materials for production has increased again, showing the recovery of production and business activities in the economy, as well as positive signals about orders received in the coming time.
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| Mr. Tran Thanh Hai - Deputy Director of the Import-Export Department (Ministry of Industry and Trade) spoke at the Conference. (Photo: NH) |
In addition to the achieved results, according to Mr. Tran Thanh Hai, import and export still have some limitations. Accordingly, exports are still concentrated on a number of large markets. Although this brings in large turnover, it poses risks when these markets change policies or face economic fluctuations, requiring Vietnam to have a more effective market diversification strategy. In addition, logistics infrastructure is not yet synchronized and transportation costs are still high compared to other countries in the region, directly affecting the price and competitiveness of export goods.
At the same time, the demand for green production and traceability from international markets is increasing, while not many Vietnamese enterprises are prepared. However, this is also an opportunity for the Vietnamese industry to transform towards sustainability, taking advantage of new consumer trends.
The above achievements are due to the efforts of the business community, the support of the Government, ministries and branches, including the role of the Import-Export Department. Accordingly, in the past year, the Import-Export Department has developed and submitted to the Government leaders for promulgation 02 Decrees and 09 Circulars of the Minister of Industry and Trade.
The Import-Export Department has established and organized inspection teams to monitor the implementation of the law on temporary import and re-export business; monitor the implementation of the law on importing sugar, salt, and raw tobacco according to tariff quotas; and monitor the implementation of the Border Trade Agreement.
In addition, the Department has advised the Ministry to develop a Strategy for the development of Vietnam's logistics services for the period 2025 - 2035, with a vision to 2050. At the same time, it has coordinated with units in the management of rice exports in the context of the world rice trade situation continuing to develop complicatedly; along with that, the management of import of tariff quota items; the negotiation and implementation of regulations on rules of origin in FTAs and anti-fraud of origin; the development of logistics services; the management of border trade and temporary import and re-export have also been promoted by the Department throughout the past year.
Aiming for export growth of over 10-12%
Mr. Tran Thanh Hai commented that Vietnam's import and export situation in 2025 is forecast to be more favorable thanks to the recovery of global economic growth and trade growth.
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| The Conference to review the work in 2024 and deploy tasks in 2025 of the Import-Export Department (Ministry of Industry and Trade) took place on the afternoon of December 26. Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan chaired the Conference. (Photo: NH) |
However, Vietnam's import and export activities may still encounter some difficulties and disadvantages, such as the unpredictable developments of the crisis in the Middle East affecting the circulation of goods; which has been affecting the transportation of goods in the world and in Vietnam, due to increased transportation costs and longer transportation times. In addition, the increasing trend of trade protection in some developed and developing countries may limit Vietnam's export opportunities.
In particular, increasingly stringent technical requirements, quality standards and environmental regulations in the EU and US markets will create great pressure for Vietnamese enterprises to meet these standards. Changes in trade policies of major countries when the US enters a new presidential term are strong and unpredictable factors.
In 2025, the Ministry of Industry and Trade sets a target of total export turnover increasing by 10-12% compared to 2024. The trade balance continues to have a trade surplus of over 20 billion USD. To achieve the set target, Mr. Tran Thanh Hai said that the Department will strengthen research, forecasting, and warning of export goods; closely monitor the import-export situation, the border trade situation, coordinate with industry associations to grasp the difficulties and problems of export enterprises, promptly advise, propose, and recommend solutions to remove difficulties and promote exports.
Regularly grasp information on issues that may impact and affect the transportation, circulation, import and export of goods in Vietnam to strengthen forecasting, warning, and recommendations for associations and businesses and report to the Ministry's leaders on solutions to respond and minimize negative impacts on businesses' import and export activities.
Advise on the issuance of legal documents to promptly guide commitments under signed Free Trade Agreements (FTAs), Agreements that are being and will continue to be negotiated and signed in the coming time; disseminate and popularize commitments, encourage businesses to take advantage of opportunities from FTAs, Trade Agreements, and promote the diversification of export and import markets.
Implement, monitor and urge the implementation of the Action Program to implement the Strategy for Import and Export of Goods to 2030; Strategy for Developing the Rice Export Market for the period 2021-2025, with a vision to 2035;…
Continue to coordinate with localities to promote border trade activities to gradually shift to official trade. Support businesses to overcome new trade barriers in import markets. Strengthen prevention of fraud of goods origin and evasion of trade defense measures.
Source: https://congthuong.vn/bo-cong-thuong-dat-muc-tieu-kim-ngach-xuat-khau-nam-2025-se-tang-tu-10-12-366372.html
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