Larry Hu made this assessment at a conference hosted by Amazon Global Selling in Ho Chi Minh City on 2/6. He highlighted a 300% increase in the number of Vietnamese products sold globally on Amazon over the past five years.
In the 12 months leading up to 31/7/2025, the volume of products from Vietnamese businesses sold on the platform saw a 35% increase compared to the previous year. While Amazon did not specify the exact number of Vietnamese sellers, it confirmed the figure was in the thousands.
The number of sellers generating over 1 million USD in annual revenue alone increased by 60%. Larry Hu lauded this as "spectacular acceleration," adding, "Vietnam is emerging as a highly competitive e-commerce export hub."
The Agency of Foreign Trade, under the Ministry of Industry and Trade, reports that Vietnam's e-commerce market is valued at approximately 31 billion USD, with cross-border e-commerce contributing 4,45 billion USD. Over 22% of Vietnam's online export revenue comes from the US.
Amazon attributes Vietnam's online export growth to its robust domestic production capacity, strategic position in the global supply chain, a significant transition from contract manufacturing to brand building, and consistent government support.
 |
Packages at an Amazon sorting center in Robbinsville, New Jersey, US on 27/11/2023. *Photo: Reuters* |
Businesses are increasingly recognizing opportunities. A survey conducted by Access Partnership involving 300 micro, small, and medium enterprises (MSMEs) in the furniture and fashion sectors found that 93% view online exports as a key factor for future growth, and 96% believe this channel enhances international competitiveness.
Amazon identifies wooden furniture and personalized gifts as two product categories with significant potential. Access Partnership forecasts online exports for these items to grow by 20% during the 2024-2029 period, more than doubling the 9% growth projected for the overall industry.
Personalized gifts hold strong potential due to their design advantages, customization options, and flexible production. Larry Hu explained, "Modern consumers favor products that 'tell their own story,' such as t-shirts for Father's Day, personalized gift boxes for Valentine's, or unique artworks as wedding presents."
Over the past year, the leading markets for Vietnamese products on Amazon included: UAE, Germany, US, Mexico, Japan, UK, France, Australia, and Italy. Michael Kokalari, director of Macroeconomic Analysis and Market Research at VinaCapital, identified the US as a particularly promising online export market for the next one to two years.
"The US market situation will be very good in the coming years. Therefore, if you want to export, I encourage selling to the US," he advised. Kokalari noted that businesses should focus on two main customer groups: the wealthiest 10%, whose purchasing power is still increasing, and the "Baby Boomers," those born after World War II.
"Baby Boomers" are now seniors with a high demand for home assistance products, aligning with Vietnam's strengths in furniture.
Larry Hu advised businesses to adopt an international mindset from the outset, build sustainable brands, and leverage technology, logistics, and artificial intelligence (AI) tools to scale their online exports.
Vien Thong
