Vietnam’s total goods trade reached an estimated USD 1.01 trillion in the first 10 months of 2026, up 32.3% from a year earlier and surpassing the mark for the first time, the Agency of Foreign Trade under the Ministry of Industry and Trade said on October 29.
Trade turnover in October alone was estimated at USD 122.2 billion, up 47.6% year on year.
Exports reached an estimated USD 499 billion in the January to October period, rising 27.4%. The performance puts Vietnam on track to meet or exceed its full year 2026 export growth target of 15 to 16%.
According to the agency, export growth was recorded in both the domestic and foreign invested sectors. Processed and manufactured goods remained the mainstay, accounting for 87.4% of total exports. Shipments also grew strongly to major markets, including China, the United States, the European Union, the Republic of Korea and ASEAN.
Vietnam recorded an estimated trade surplus of USD 6.8 billion in October. It was the second consecutive month with a surplus, narrowing the cumulative trade deficit for the first 10 months to around USD 12.7 billion.
The agency said the Ministry of Industry and Trade is drafting a goods import export strategy through 2030, with a vision to 2045.
The strategy aims to drive export and import growth and support Vietnam’s ambition of achieving double digit economic growth from 2026 to 2030. It targets average annual export growth of 15 to 16% over the period. Vietnam also aims to rank among the world’s 10 largest exporting nations by 2045.
Imports are targeted to grow by an average of 12 to 13% annually from 2026 to 2030. By 2045, Vietnam aims to rank among the world’s 10 largest importers.
The strategy seeks to establish a sustainable trade surplus from 2026 to 2030. The surplus is targeted to average 3 to 6% of total exports during the period, rising to 7 to 10% by 2045.
To improve the quality of trade growth and increase value added from processing and technology, the draft strategy aims to raise the share of domestic firms in total exports to around 28 to 30% by 2030 and 38 to 40% by 2045.
Processed and refined goods are expected to account for 89 to 90% of total exports by 2030 and more than 92% by 2045. High tech products are targeted to make up around 50% of processed and manufactured exports by 2030 and more than 55% by 2045.
The strategy also calls for broader market diversification to reduce concentration risks and strengthen resilience to trade shocks.
By 2030, no single export market should account for more than 25% of total exports, while no single import market should represent more than 35% of total imports.
The combined share of Vietnam’s three largest export markets or regions is targeted to fall below 55% by 2030 and below 50% by 2045.
Vietnam aims to export more than USD 1 billion worth of goods to each of more than 45 markets by 2030 and to 55 markets by 2045. The share of exports to emerging markets in South Asia, the Middle East, Africa and Latin America is targeted to reach around 10% by 2030 and 15% by 2045.
For the fourth quarter, the Ministry of Industry and Trade has identified export promotion, market diversification and stronger compliance capabilities as priorities.
The ministry will seek to make more effective use of existing free trade agreements and expand access to new markets. It will also strengthen early warning mechanisms for trade defence investigations, tariff barriers, green standards, traceability requirements and rules of origin.
Other priorities include helping businesses improve product quality, develop brands and strengthen supply chain transparency.
The ministry will also promote official export channels, expand agreements and protocols on agricultural quarantine, increase investment in cold chain logistics infrastructure, and standardise growing areas and packing facilities to meet the requirements of individual trading partners.
Sources: VietnamPlus / Vietnam News Agency
