Vietnam sets new trade record as China and U.S. account for US$422 billion

(NLDO) - Vietnam currently maintains trade relations with more than 230 countries and territories worldwide.

The Department of Customs under the Ministry of Finance recently held a ceremony to mark Vietnam’s total merchandise import–export turnover reaching the milestone of US$900 billion.

According to the Department of Customs, Vietnam’s total import–export turnover is expected to reach the USD 900 billion mark sometime between December 22 and December 26, 2025. 

For the full year, total trade value is estimated at USD 920 billion, up 16.9 percent year on year, equivalent to an increase of USD 133.07 billion.

Of this total, imports in 2025 are projected at USD 449.41 billion, rising 18 percent, or USD 68.42 billion, while exports are estimated at USD 470.59 billion, up 15.9 percent, or USD 64.65 billion.

The Department of Customs noted that Vietnam has recorded a merchandise trade surplus for 10 consecutive years, consolidating its position as a consistently net-exporting economy. 

In the past three years alone, the goods trade surplus has exceeded USD 20 billion annually. In 2025, the trade surplus is forecast to reach USD 21.2 billion.

In 2025, an estimated 36 out of 45 export product groups recorded export values of more than USD 1 billion. Among them, eight groups each surpassed USD 10 billion in export value, with a combined total of about USD 319 billion, accounting for 68 percent of the country’s total export turnover.

On the import side, as many as 49 out of 53 product groups are estimated to have import values exceeding USD 1 billion. Eight groups recorded import values of more than USD 10 billion each, with a combined total of around USD 281 billion, representing 63 percent of Vietnam’s total import value.

Imports in 2025 were concentrated in groups such as computers, phones and components, machinery and equipment, textile and footwear materials, iron and steel, and metals. At the same time, imports of consumer goods also increased, particularly automobiles.

Regarding export and import markets, Vietnam currently maintains trade relations with more than 230 countries and territories worldwide, including 34 export markets and 24 import markets with trade values exceeding USD 1 billion.

China remained Vietnam’s largest trading partner over the past year, with estimated bilateral trade reaching USD 252 billion, up 26.5 percent from the previous year. The United States ranked second, with trade valued at USD 170 billion, also an increase of 26.5 percent.

Combined, total trade with China and the United States amounted to USD 422 billion, accounting for 46 percent of Vietnam’s total import–export turnover. These two markets also contributed USD 82 billion to overall trade growth, representing 62 percent of the country’s total increase in import–export value.