THE HANOI TIMES — Vietnam’s total import-export turnover is expected to surpass US$900 billion in 2025, with a trade surplus of over $20 billion, according to Minister of Industry and Trade Nguyen Hong Dien.

Speaking at the Government’s monthly meeting on October 5, Dien said the industry and trade sector had been a key driver of Vietnam’s strong economic growth in the past nine months of the year, fueled by manufacturing and processing.

Data from the General Statistics Office (GSO) showed that the country’s total trade value in January–September rose 17% year-on-year to over $680 billion.

The domestic sector accounted for US$85 billion, up 2% year-on-year and representing 25% of total exports, while the foreign-invested sector, including crude oil, generated US$263 billion, a 21% increase.

Exports totaled nearly $350 billion, up 16%, while imports hit $332 billion, up 19%. Thirty-two export items brought in more than $1 billion each, making up 93% of total exports. Seven of them exceeded $10 billion, accounting for 68%.

The US remained Vietnam’s largest export market, with turnover reaching $113 billion, while China stayed the top import market at over $134 billion.

During the nine-month period, Vietnam recorded a trade surplus of nearly US$100 billion with the US (up 28%), US$28.8 billion with the EU (up 12%), and US$1.5 billion with Japan (down 26%).

Meanwhile, trade deficits reached $84.8 billion with China (up 40.2%), $23 billion with South Korea (up 2.4%) and $10.6 billion with ASEAN (up 65.4%).

Looking ahead, Dien warned that challenges remain due to global instability, inflationary pressure and tighter technical barriers in major markets.

He stressed the need to support businesses, stabilize livelihoods and maintain growth momentum.

He also called for faster institutional reforms, better governance and quicker public investment disbursement for key national projects.

The minister emphasized the importance of enabling enterprises to seize opportunities in both domestic and international markets through stronger trade promotion and effective implementation of free trade agreements (FTAs).

According to Dien, the ministry will start FTA negotiations with the Gulf Cooperation Council (GCC) and Mercosur this month. It will also send a delegation to Pakistan to begin FTA talks, with a goal of completion within three months.

“Pakistan, with its 240 million people, is a promising market that matches Vietnam’s export strengths,” said Dien.

He urged provinces to revise local master plans in line with national development strategies and accelerate investor selection and project implementation in key sectors such as energy, minerals, industry, and services.