Exports witness a rise of US$1 billion in the first 15 days of 2025

Import and export goods through Hai Phong port area. Photo: T.Bình.

According to the General Department of Customs, in the first half of January, the nation's total export turnover reached US$16.25 billion, a surge of nearly 6.3% compared to the corresponding period in 2024 (equivalent to a rise of nearly US$1 billion).

During this period, five commodity groups surpassed the US$1 billion export turnover mark: computers, electronic products and components; telephones and components; machinery, equipment, tools, and spare parts; textiles; and footwear.

Notably, the number of billion-dollar export groups increased by one compared to the same period last year. Footwear emerged as the newest member of this group, registering over US$1 billion in turnover, a remarkable 22.55% increase.

Our observations suggest that at the beginning of 2025, most of Vietnam's key export sectors are experiencing promising growth compared to the same timeframe last year.

In 2024, the General Department of Customs recorded a record-breaking export turnover of US$405.53 billion, a substantial 14.3% expansion (equivalent to a US$50.81 billion gain) over the preceding year.

Significant export growth was observed across sectors such as: computers, electronic products, and components (rising by US$15.26 billion); machinery, equipment, and spare parts (growing by US$9.06 billion); textiles (increasing by US$3.72 billion); wood and wood products (expanding by US$2.81 billion); footwear (increasing by US$2.64 billion); fruits and vegetables (growing by US$1.55 billion); plastic products (increasing by US$1.54 billion); telephones and components (rising by US$1.52 billion); coffee (increasing by US$1.38 billion); and seafood (growing by US$1.07 billion).

According to the Ministry of Industry and Trade, in 2024, most export markets demonstrated positive growth.

Especially noteworthy was the uptick in exports to major markets like ASEAN, the EU, South Korea, Hong Kong (China), and the United States compared to the previous year. Exports to FTA partner markets also achieved considerable growth.

Building on the successes of 2024, the Import-Export Department (Ministry of Industry and Trade) has set an ambitious target of 10-12% total export turnover growth for 2025, with a trade surplus exceeding US$20 billion.

Achieving these targets would propel 2025 exports to a new height, potentially reaching around US$450 billion.

However, this export target is by no means assured, given forecasts from experts and authorities that the global economic and political landscape in 2025 will likely remain volatile and unpredictable.

Vietnam's exports face considerable risks, primarily due to their heavy reliance on a few major markets, which are susceptible to policy shifts and economic instability.

Therefore, policymakers and businesses must implement a more effective market diversification strategy to sustain high export performance.