Tiếng Việt
中文 (中国)Vietnam’s export performance in the first ten months of 2025 recorded a 16.2% increase, significantly surpassing the annual target of 12%, demonstrating strong recovery momentum in the economy. According to the Ministry of Industry and Trade, Vietnam’s total trade turnover for the year may reach around USD 900 billion, the highest level ever recorded. Economica Vietnam’s Director noted that this growth trend is likely to continue in the remaining months of the year, supported by three core drivers: the recovery of major economies such as the United States, the European Union and Japan; heightened consumption demand during the global year-end shopping season; and the depreciation of the Vietnamese đồng, which makes Vietnamese goods more price-competitive in international markets.
Vietnam’s Export Growth Surges Beyond Expectations
Despite these favourable indicators, the expert emphasised that Vietnam’s export growth in 2026 must shift from a focus on quantity to a stronger emphasis on value-added products and increased domestic value content. Current export activities still rely heavily on external inputs, with domestic enterprises, supporting industries, and local suppliers of components, services and materials contributing insufficiently. As Vietnam moves towards a more sustainable growth model, raising domestic value-added becomes essential for ensuring that economic gains remain within the country and for enhancing the long-term competitiveness of Vietnamese goods.
Another critical issue is the overwhelming dominance of foreign-invested enterprises (FDI), which account for about 70% of Vietnam’s total export turnover, while domestic firms contribute only 30%. Strengthening the capabilities of local enterprises, particularly in key and emerging industries, is therefore crucial. Additionally, Vietnam continues to run a service trade deficit of USD 9–14 billion annually. Expanding service exports is considered an important avenue for improving the balance of payments and reinforcing economic resilience.
For 2026, Economica Vietnam identifies four strategic priorities to maintain export momentum and support the national goal of 10% economic growth: diversifying export markets and better leveraging existing free trade agreements; increasing domestic value-added in export products; enhancing the role and capabilities of domestic firms while promoting closer linkages with FDI enterprises; and accelerating the development of service exports to narrow the persistent deficit. These priorities are viewed as essential for ensuring that exports continue to serve as a key driver of Vietnam’s economic growth in the years ahead.