Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan emphasized that with the current development momentum, the target of import-export turnover reaching 1,000 billion USD is not far away.
Miraculous progress
Speaking to VTV Times reporter, Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan assessed that looking back on the past, import-export turnover has continuously achieved new miracles and is always a bright spot in Vietnam’s economic picture.
Over the past 17 years, from 2007 to 2024, import and export have climbed step by step with the turnover reaching 100 billion USD (in 2007), reaching 786.29 billion USD (in 2024).
Specifically, in 2011, the total value of imports and exports doubled that of 2007, reaching 200 billion USD. In the next 4 years, in 2015, Vietnam’s imports and exports reached the 300 billion USD mark. Notably, just 2 years later, in 2017, the total value of imports and exports reached 400 billion USD. In the following years, every 2 years, Vietnam’s total import and export value increased by 100 billion USD. In 2019, the import and export value reached more than 500 billion USD. In 2021, it reached 600 billion USD. In 2022, Vietnam’s total import and export value reached 730.28 billion USD.
Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan emphasized that with the current development momentum, the target of import-export turnover reaching 1,000 billion USD is not far away.
With such a positive situation, many economic experts believe that the target of import-export turnover growing by about 12% in 2025 compared to 2024 is completely feasible. According to the Deputy Minister of Industry and Trade, “the growth target of 10-12% still does not meet the requirement that the following year must be higher than the previous year, so we still have to make every effort to achieve an even higher number.”
Overcoming “obstacles” to success
Deputy Minister Nguyen Sinh Nhat Tan emphasized that our country is approaching the figure of 800 billion USD in import-export turnover and with such development momentum, each year, import-export reaches double digits, the target of 1,000 billion USD is not far away.
However, he also said that to achieve that number, great efforts are needed from the government and businesses. We need to set goals and solutions in both import and export activities to create a foundation and resources for production and export development.
In particular, the Deputy Minister said that in order to provide maximum support for import and export activities, the Ministry of Industry and Trade will promote the application of technological innovation and digital transformation in the import and export sector, encourage the implementation of e-commerce channels; strengthen risk control mechanisms and support businesses and localities to expand production, import and export activities as well as cooperation in production chains and supply chains across borders.
Besides, the Deputy Minister emphasized that we have been participating in implementing many FTAs and functional units and industries need to provide maximum support so that businesses can effectively take advantage of tariff commitments and incentives.
According to the Deputy Minister of Industry and Trade, the recent trend of shifting international supply chains has created great opportunities for our country’s export activities and if we take advantage of this, it will be a “golden” opportunity for a breakthrough in import-export turnover growth.
Furthermore, businesses need to focus on digital transformation and green transformation to meet the shifting supply chains as well as ensure the increasingly stringent requirements of the international market. Sustainable development and green growth have become prerequisites to maintain competitiveness and ensure long-term development of economies. This is a major challenge that Vietnamese businesses are facing and must overcome in 2025 if they want to maintain the momentum of export growth.
Deputy Minister Nguyen Sinh Nhat Tan further emphasized that in the coming time, there will be a shift from big countries, causing Vietnamese goods to face incidents as well as being subject to trade defense measures. Therefore, trade defense work needs to continue to promote solutions to protect the interests of businesses and exported goods. Industry and Trade units need to pay attention to the early warning mechanism, and need to stratify information…
In addition, discussing the “problem” of import-export growth, according to Deputy Director of the Import-Export Department (Ministry of Industry and Trade) Tran Thanh Hai, Vietnam’s exports are currently facing many potential risks as they are still mainly concentrated on a few large markets, which are likely to change policies or be affected by economic fluctuations. Therefore, one of the urgent requirements is that businesses need to have a more effective market diversification strategy to maintain high turnover in the coming time./.