VIETNAM BREAKS INTO TOP 15 LARGEST TRADING NATIONS GLOBALLY

This also marks the 10th consecutive year Vietnam has recorded a trade surplus, once again affirming the resilient endurance of the Vietnamese economy in a year full of fluctuations in world trade.

Within the export landscape, the wood and forestry products sector has emerged as a bright spot showcasing its ability to overcome difficulties. From the beginning of the year, a series of barriers, from countervailing duties to Section 232 tariffs from the US market – which consumes up to 55% of the industry’s total turnover – created significant pressure. However, the wood industry has made a spectacular turnaround. Turnover is projected to reach the threshold of $18 billion this year, an 11% increase compared to 2024.

Mr. Ngo Sy Hoai – Vice President and General Secretary of the Vietnam Timber and Forest Products Association (VIFOREST) stated: “In Japan, besides wood chips and pellets, we have increased refined furniture and industrial boards. In South Korea, besides traditional products like pellets and packaging plywood, we have boosted exports of other products. Similar openings have been made in China. Furthermore, we are exploring demanding but new markets like the Middle East, South America, Mexico… The spirit is to try our utmost to diversify markets and not accept over-dependence on one major market like the United States.”

Looking more broadly, Vietnam’s export capacity is growing in both quality and quantity. While in 2007, the country had only 10 product categories with a turnover of over $1 billion, by 2025 this number has multiplied 3.6 times to 36 categories. The market map has also continuously expanded, with the list of “billion-dollar” trading partners reaching 35 by the end of last year. This very diversity has propelled total import-export turnover to a historic peak of $920 billion, establishing Vietnam’s position in the Top 15 global trading powers.

Mr. Tran Thanh Hai – Deputy Director of the Import-Export Department, Ministry of Industry and Trade, emphasized: “2025 marks a historic milestone in Vietnam’s foreign trade activities as we successively set two new records: surpassing the $800 billion threshold and advancing straight to the $900 billion USD mark in total import-export turnover. This is an impressive feat, affirming Vietnam’s position in the global supply chain, especially when placed in the context of a volatile international market and geopolitical risks. This achievement not only reflects the tremendous efforts of the business community but also demonstrates the effectiveness of flexible management policies in the face of external ‘shocks’.”

The accelerated export growth not only brings abundant foreign currency but also creates leverage to import technology and modern equipment for industrialization. Since the first surplus milestone in 2012, Vietnam has now established a chain of 10 consecutive years of trade surplus. The surplus has grown impressively from nearly $20 billion in 2020 to over $28 billion in 2023. In 2025, the trade surplus is expected to continue contributing an additional $22 billion to the national foreign exchange reserves.

Dr. Le Duy Binh – Director of Economica Vietnam, shared: “In foreign trade activities, we have achieved a number of new records, especially in import-export operations. Imports and exports this year are projected to set a record. This is an extremely important growth driver because our economy relies quite heavily on foreign trade activities; it supports the production and business processes of domestic enterprises.”

The $920 billion USD milestone is not merely a record number; it is a declaration of Vietnam’s new position on the global trade map. With the proactiveness of businesses and the correct orientation towards “green exports,” Vietnam has every basis to be confident in positive prospects for 2026.