Viet Nam’s foreign trade surpasses US$1 trillion mark in first 10 months

Of the figure, export value reached approximately US$499 billion, up 27.4 percent, providing positive momentum for the country to achieve and potentially exceed its full-year 2026 export growth target of 15–16 percent.

In October alone, total import and export turnover was estimated at US$122.2 billion, up 47.6 percent year-on-year.

The Southeast Asian nation recorded an estimated trade surplus of US$6.8 billion in October, bringing the cumulative trade deficit for the first 10 months down to approximately US$12.7 billion.

The Ministry of Industry and Trade is drafting a strategy for imports and exports through 2030, with a vision to 2045. Under the draft strategy, Viet Nam aims to achieve average annual merchandise export growth of 15–16 percent and import growth of 12–13 percent during the 2026–2030 period. By 2045, the country strives to rank among the world's top 10 trading economies.

The nation targets to maintain a sustainable merchandise trade surplus throughout the 2026–2030 period, with the average trade surplus equivalent to 3–6 percent of total export turnover. This ratio is targeted to rise to 7–10 percent by 2045.

The draft strategy also emphasizes the development of higher-value-added trade, with a focus on increasing processing and manufacturing content and strengthening the application of science and technology.

Specifically, Viet Nam strives to raise the share of exports contributed by domestic enterprises to approximately 28–30 percent of the country's total export turnover by 2030 and 38–40 percent by 2045.

Processed and refined products are expected to account for 89–90 percent of total export turnover by 2030 and more than 92 percent by 2045. Meanwhile, high-tech products are targeted to account for approximately half of the total export value of processed and manufactured goods by 2030 and more than 55 percent by 2045.

In terms of markets, the draft strategy aims to diversify import and export markets, reduce market concentration and promote balanced development in both the breadth and depth of trade relations.

Accordingly, by 2030, no single export market is expected to account for more than 25 percent of Viet Nam's total export turnover, helping limit the country's vulnerability to trade shocks. On the import side, no single market should account for more than 35 percent of total import turnover.

Meanwhile, the combined share of exports to the three largest markets or regions is targeted to fall below 55 percent by 2030 and below 50 percent by 2045.

The draft strategy also seeks to expand Viet Nam's market reach, increasing the number of export markets with annual turnover exceeding US$1 billion to more than 45 by 2030 and 55 by 2045./.