US$3.03- billion trade surplus in January

The latest report from the General Statistics Office of Vietnam shows that in January 2025, the total import-export value reached US$63.15 billion, down 10.5 percent compared to December 2024 and 3.5 percent compared to January 2024. Exports decreased by 4.3 percent, while imports fell by 2.6 percent. The trade balance recorded a surplus of US$3.03 billion.

The Ministry of Industry and Trade prioritizes measures to promote exports

Specifically, the export value reached US$33.09 billion, down 6.9 percent compared to December 2024. The domestic economic sector contributed US$9.49 billion, a decrease of 11.2 percent, while the foreign-invested sector, including crude oil, accounted for US$23.6 billion, down 5.0 percent. Compared to January 2024, the export value decreased by 4.3 percent. The domestic economic sector saw a 0.9-percent decline, accounting for 28.7 percent of the total, while the foreign-invested sector, including crude oil, fell by 5.5 percent, making up 71.3 percent.

In January, the export value of seven commodities exceeded US$1 billion each, accounting for 67.9 percent of the total.

In January 2025, the export value of fuel and mineral products reached US$0.22 billion, accounting for 0.7 percent of the total. The export value of processed industrial products reached US$29.43 billion, accounting for 89 percent. Agricultural and forestry product exports reached US$2.65 billion, accounting for 8 percent, while seafood exports reached US$0.77 billion, accounting for 2.3 percent.

The import value in January 2025 reached US$30.06 billion, down 14.1 percent compared to December 2024. The import value of three commodities exceeded US$1 billion each, accounting for 49.3 percent of the total.

In January 2025, the import value of production materials reached US$28.26 billion, accounting for 94 percent of the total. This positive signal shows that imports remain focused on goods serving production and export activities.

Export activities showed a slight decline in the first month of 2025, partly due to the impact of the Lunar New Year holiday. However, these activities have resumed growth after the holiday.

Solutions for 2025

The Government has set an economic growth target of 8-10 percent for 2025, aiming at a double-digit growth rate in the subsequent period. Exports have been identified as one of the three key drivers of the economy.

The Ministry of Industry and Trade (MoIT) has set a 12-percent annual growth target for import-export value in 2025.

Minister of Industry and Trade Nguyen Hong Dien emphasized that achieving this target requires strong determination, significant efforts, and decisive actions from all levels, sectors, localities, industry associations, and enterprises.

First, the MoIT plans to focus on implementing comprehensive solutions to leverage competitive advantages and seize export market opportunities. This includes supporting enterprises and industry associations in exploiting traditional markets with untapped potential. At the same time, the ministry will conduct research and recommend negotiations for signing cooperation deals with partners from new markets, while making the most of opportunities from key and strategic markets.

Second, the MoIT aims to capitalize on opportunities from free trade agreements in which Vietnam is a member. It will enhance and strengthen the role of Vietnam’s trade offices abroad in gathering information and promptly reporting global economic developments and policies of host countries. This will help state agencies in making timely and effective policy responses, ensuring the highest national interests.

Third, the MoIT will issue necessary warnings and recommendations to businesses and industry associations, while strengthening targeted trade promotion activities.

Fourth, the MoIT will diversify promotion activities by linking trade promotion efforts with the development of domestic production and exports, as well as fostering e-commerce and digital transformation. It will strengthen early risk warnings and support businesses in handling trade defense lawsuits./.