Minister of Industry and Trade: Import-export turnover in 2025 expected to set a new record

(Chinhphu.vn) - The Ministry of Industry and Trade predicts that this year's import-export turnover could reach 800 billion USD, a record level achieved for the first time by Vietnam (in 2024, import-export turnover reached 786 billion USD).

Minister of Industry and Trade Nguyen Hong Dien - Photo: VGP/NB

On the morning of September 6, Prime Minister Pham Minh Chinh chaired the regular Government meeting for August 2025, discussing many important contents.

Industrial production grows nationwide

Reporting at the meeting, Minister of Industry and Trade Nguyen Hong Dien said that the industrial production index in August is estimated to increase by 1.8% compared to July and 19% compared to the same period last year. The cumulative industrial production index in the first 8 months increased by 8.5%, higher than the same period last year, in which the manufacturing and processing sector continued to increase by 10%.

Domestic trade continued to grow. Total retail sales of goods and consumer services revenue in August is estimated to increase by 0.6% compared to the previous month and by 50.2% compared to the same period last year. The cumulative increase in the first 8 months is estimated to increase by 9.7% compared to the same period last year.

The Ministry of Industry and Trade said that consumers are optimistic and spend more, especially during holidays, including the recent National Day on September 2. Promotional programs to stimulate consumption are being implemented by businesses and localities. Tourism revenue increased sharply, reaching over 23%, exceeding the plan set at the beginning of the year.

Import-export turnover in August 2025 is estimated at 63 billion USD, up 0.9% over the previous month. Although exports were affected by the tightening monetary policies of other countries, they still increased slightly in August by 0.6% compared to July and by 11.2% over the same period last year. Exports to the US market in August decreased by 5% compared to July, but in the first 8 months, they still increased by 17.3% over the same period.

Import and export expected to set new record

The total import-export turnover from the beginning of the year to date is estimated to reach nearly 600 billion USD, up 16.3% over the same period. The Ministry of Industry and Trade predicts that this year's import-export turnover could reach 800 billion USD, a record level achieved for the first time by Vietnam. In particular, this year's trade balance is expected to have a trade surplus of nearly 14 billion USD.

"This result was achieved partly due to businesses speeding up signed orders. This is a great effort by the business community and the entire political system in directing and operating in recent times," Minister Nguyen Hong Dien assessed.

In addition to the achieved results, the Minister of Industry and Trade requested that relevant ministries, sectors and enterprises closely monitor adverse developments in the world market to promptly have appropriate policy responses, especially policy issues related to the United States, inflation, prices, and disruptions in the global supply chain for certain types of goods.

To achieve the growth target of 8.3% in 2025 and the following period, the Ministry of Industry and Trade recommends accelerating the implementation of resolutions of the National Assembly and the Government, especially the economic recovery and development program, and new resolutions issued by the Politburo. At the same time, it is necessary to promote the disbursement of public investment capital, put into use and accelerate the progress of key projects nationwide, especially projects that have been started and inaugurated recently. In addition, it is necessary to resolutely implement investment projects under national sectoral plans in the fields of energy and minerals to proactively supply raw materials for domestic production.

The Ministry of Industry and Trade also requested competent authorities to promptly issue and implement the Government's resolution on comprehensive solutions to promptly and effectively respond to relevant US policies, while simultaneously implementing existing trade agreements with the US. Regarding this content, the Ministry of Industry and Trade submitted it to the Government on August 18, received comments from ministries and branches, and submitted it for the final time on August 29.

Next, the Ministry of Industry and Trade requested competent authorities to resolutely remove difficulties for projects and works with specific mechanisms, especially projects in the energy sector. At the same time, continue to review and remove institutional bottlenecks with Government resolutions, along with continuing to amend laws and decrees to suit the context of Vietnam's high growth rate.

Minister Nguyen Hong Dien proposed that ministries and branches continue to support and accompany localities in performing the functions and tasks of two-level local governments according to decentralization and authorization.

In addition, the Minister said that in order to stimulate domestic consumption and create opportunities for domestic and international trade, the Ministry of Industry and Trade has developed and completed a project to organize: an Autumn Fair at the end of September on industry and food; a Spring Fair at the end of this year on consumer goods for the Lunar New Year. The project will be submitted to the Government by the Ministry of Industry and Trade next week.

Finally, the head of the Ministry of Industry and Trade suggested that the Government direct localities to be more proactive and decisive in adjusting provincial planning and land use plans to attract investment projects. Localities also need to exercise their authority in approving investment policies for energy projects, which is currently very slow.

Phan Trang

Source: https://baochinhphu.vn/bo-truong-cong-thuong-kim-ngach-xuat-nhap-khau-2025-du-kien-lap-ki-luc-moi-102250906121420064.htm