According to the Customs Department under the Ministry of Finance, Vietnam's total goods trade reached the historic USD 1 trillion milestone on October 29, with two months remaining in the year.
Exports were valued at approximately USD 493.64 billion, up USD 105.56 billion, or 27.2 per cent, year on year. Imports reached USD 507.66 billion, an increase of USD 138.72 billion, or 37.6 per cent, from the same period last year.
Customs officers at Haiphong Port Border Gate Customs Sub-department Area III under Haiphong Customs Department inspect a list of imported goods (Photo: My Tam).
For 2026 as a whole, goods exports are expected to grow by more than 25 per cent, exceeding the government's target.
Since joining the World Trade Organization (WTO), Vietnam has continued to set new trade milestones: USD 100 billion in 2007, USD 200 billion in 2011, USD 300 billion in 2015, USD 400 billion in 2017, USD 500 billion in 2019, USD 600 billion in 2021, USD 700 billion in 2022, USD 900 billion in 2025 and USD 1 trillion in 2026.
Over the decade from 2016 to 2025, cumulative import and export turnover reached USD 6.12 trillion, averaging USD 612 billion a year. Annual trade turnover rose from USD 351.38 billion in 2016 to USD 929.92 billion in 2025, a 2.65-fold increase, equivalent to a rise of USD 578.54 billion. Trade grew at an average annual rate of 11 per cent over the period.
The Customs Department said Vietnam currently ranks 18th worldwide in exports and 20th in imports. Within ASEAN, it maintains second place, behind Singapore. The country's growing trade has further strengthened its position as an important link in global supply chains.
Efforts to establish partnerships with other countries and negotiate, join and sign trade agreements have provided a major boost to Vietnamese exports. These initiatives have helped diversify export markets and products, particularly agricultural and seafood products, as well as goods in which Vietnam has a competitive advantage.
As of October 29, Vietnam had trade relations with 237 countries and territories. Of these, 36 export markets and 31 import markets each recorded trade turnover exceeding USD 1 billion. Ministries, agencies and local authorities have also worked to review and amend regulations, simplify procedures and reduce administrative costs for businesses.
From the beginning of the year through October 29, foreign direct investment (FDI) enterprises recorded trade turnover of USD 778 billion, accounting for 77.5 per cent of the national total and rising 37 per cent year on year. Domestic businesses generated approximately USD 223 billion in trade turnover, up 16 per cent.
Exports to markets covered by free trade agreements (FTAs) continued to grow strongly, including increases of 18.6 per cent to Japan, 19.1 per cent to South Korea, 14.4 per cent to Canada and 42.5 per cent to Mexico. China and the United States remained Vietnam's largest trading partners.
By product category, the three largest groups in terms of import and export value were computers, electronic products and components; phones and components; and machinery, equipment, tools and spare parts. Combined trade turnover for these groups reached USD 532 billion, accounting for 54 per cent of the national total and representing a 49 per cent increase year on year.
