On 9/9, the Ministry of Industry and Trade held a monthly meeting with Vietnam's trade offices abroad, focusing on "Diversifying export markets and products, and import sources to boost export turnover in 2025." Minister Nguyen Hong Dien chaired the meeting.

Do Ngoc Hung, Vietnam's trade counselor in the US, reported that bilateral trade reached $114.5 billion in the first 7 months, up 41% year-on-year. Vietnam's exports totaled $106 billion, while imports from the US were $8 billion, resulting in a record trade surplus of $98 billion. This reflects the strong appeal of Vietnamese goods in the US market.

Key sectors like machinery, wood and wood products, textiles, and seafood maintained high growth, with many items increasing between 15% and over 100%.

Cargo containers at the Port of Oakland, California, USA on 3/4. Photo: AP

Cargo containers at the Port of Oakland, California, USA on 3/4. Photo: AP

Regarding the Chinese market, Nong Duc Lai, Vietnam's trade counselor in China, noted that the world's second-largest economy is actively expanding investment and trade relations, adding more industries eligible for investment and applying various tax incentives.

China is also more open to imported agricultural and seafood products. In the first half of this year alone, it granted licenses to about 15 agricultural, forestry, and fishery products from nearly 20 countries.

According to Vu Ba Phu, Director General of the Trade Promotion Agency, the import-export targets set by the government for the Ministry of Industry and Trade this year are challenging but promising.

Vietnam aims for 12% export growth for the entire year and a trade surplus of about $30 billion, equivalent to an average of $37.9 billion per month. According to the Ministry of Industry and Trade, August exports increased slightly by 0.6% compared to July and were 11.2% higher year-on-year. Exports to the US specifically decreased by 5% compared to the previous month, but the cumulative figure for the first 8 months still showed a 17.3% increase.

In the first 8 months of the year, total exports reached $306 billion, a 14.8% increase year-on-year. The average was around $38.2 billion in the first 5 months and over $42 billion in July and August.

Thai Anh