Vietnam's trade turnover is already exceeding expectations, and it is expected to reach a historic milestone of over $900 billion in 2025.
Minister of Industry and Trade Nguyen Hong Dien stated during a meeting on September 5 that industrial production, retail, energy supply, and particularly external trade have produced impressive results in spite of domestic restructuring and global unrest.
September's retail sales increased by 11.7% over the same month in 2024 and by almost 2% over August. Retail increased 9.5% during the nine-month period, which was more than the 8.8% growth during the previous year.
Even in disaster-affected areas, smooth provision is ensured by the abundance of domestic supply and stable prices. Fuel and electricity supplies were guaranteed, and e-commerce grew by about 22–23%.
Trade remained a positive area for Vietnam. With a turnover of $82.5 billion in September, the nine-month total exceeded $680 billion, significantly exceeding expectations.
"If no major shocks occur, this year's total trade turnover will set a record of more than $900 billion, with a surplus above $20 billion," Dien said, as quoted by Vietnam Investment Review.
He did, however, warn that the last quarter presents difficulties. Production and the supply of raw materials may be impacted by geopolitical unrest and war-related disruptions.
While important partners are erecting technical barriers, inflation is on the rise. Pressure is also increased by the United States' reciprocal tariff policies, which have been in effect since August 7.
The ministry is urging quick fixes to ease business challenges, boost output, and quicken institutional reform in order to ensure growth. To increase the efficacy of policies, support for provincial authorities is being strengthened.
In order to mobilize resources and boost domestic demand, Dien emphasized the significance of accelerating the disbursement of public investments and fast-tracking significant national projects.
Additionally, he called for more assistance for businesses and trade groups in the growth of the market. Together with involvement in regional fairs in ASEAN, China, and South Korea, trade promotion events such as the Autumn Fair 2025, which is set for October 26–November 4, will aid in maximizing the benefits of current free trade agreements.
In terms of trade talks, the Ministry of Industry and Trade will begin talks on two new free trade agreements (FTAs) in October: one with Mercosur and one with the Gulf Cooperation Council.
Additionally, a delegation will travel to Pakistan to initiate negotiations, which are expected to be completed in three months. Pakistan, home to more than 240 million people, offers Vietnam substantial export potential.
"The continued expansion of our FTA network will diversify markets, strengthen supply chain resilience, and boost Vietnam's position in global trade," the minister added.
