Import and export milestones in 2024
Looking back at import and export activities in recent years, it can be seen that this has remained a bright spot of economy for many years. Since 1995, many memorable events have taken place in Vietnam, marking process of opening up and integrating deeply with the world. These are: Vietnam officially joined Association of Southeast Asian Nations (ASEAN), participated in ASEAN Free Trade Area (AFTA), applied to join World Trade Organization (WTO) and normalization of Vietnam - United States relations.
Total value of imports and exports reached 100 billion USD in 2007. In 2011, total value of imports and exports doubled to 200 billion USD. In the next 4 years (2015), Vietnam's imports and exports also reached the 300 billion USD mark. Notably, just 2 years later (in mid-December 2017), total value of imports and exports reached 400 billion USD.
After that, every two years, Vietnam's total import and export value increased by 100 billion USD, accordingly, import and export value reached 500 billion USD in the second half of December 2019 and reached 600 billion USD in November 2021. In 2022, Vietnam's total import and export value reached 730.28 billion USD.
However, 2-year milestone of reaching 100 billion USD was temporarily interrupted in 2023. Import-export turnover in 2023 decreased due to the strong impact of Covid-19 pandemic, reaching only 683 billion USD. In 2024, the country's import-export turnover returned to growth when it reached 786.29 billion USD, with a trade surplus of 24.77 billion USD. Sharing about import-export achievements in 2024, Mr. Nguyen Anh Son - Director of Import-Export Department (Ministry of Industry and Trade) - said that in 2024, thanks to close direction of Government, ministries and branches, including Ministry of Industry and Trade, along with participation of associations and enterprises, import-export activities have achieved many achievements such as key export groups maintaining strong growth momentum. In addition, most export markets have recovered growth, markets with FTAs with Vietnam have high growth. 2023 also marks Vietnam's 9th year of trade surplus. Stable growth in domestic exports, along with strong recovery in imports, are notable highlights in 2024.
Efforts for 2025 target
Mr. Nguyen Anh Son said that in 2025, Ministry of Industry and Trade set a target of import-export turnover growth of about 12% compared to 2024. This is considered a very challenging target.
In that context, Ministry of Industry and Trade determined to focus strongly on goals such as continuing to strongly reform administrative procedures, creating maximum favorable conditions for businesses. In addition, advising on development of the most favorable policies for import and export activities. Managing imports according to tariff quotas. Strengthening research, providing timely warnings, closely following border trade situation. In particular, strengthening fight against fraud of goods origin.
Emphasizing trade defense barriers that Vietnam may encounter, Dr. Le Quoc Phuong - former Deputy Director of Vietnam Industry and Trade Information Center (Ministry of Industry and Trade) - shared that Vietnam has now become one of the world's leading import and export countries. Therefore, Vietnam is forced to consider trade defense barriers as a must-face in import and export activities. Enterprises must prepare documents and be ready to respond if their goods are unfortunately caught up in trade defense lawsuits.
Affirming that target set for import and export activities in 2025 must be achieved, Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan said: "It is necessary to thoroughly grasp the spirit that the following year's achievements must be higher than the previous year. Some comrades said, is it too optimistic? However, this is a story of a set target that requires action. I think that the growth target of 10 - 12% has not yet met the requirements, it must be higher".
Accordingly, Deputy Minister suggested that in the plan to implement the tasks in 2025, there must be connections with units in the Ministry, through channels, in which, exports through cross-border e-commerce must also be innovated, thereby promoting production and export.
In addition, the Deputy Minister also requested to set out goals and solutions in both import and export activities to create resources for production and export in the future. Vietnam is approaching the figure of 800 billion USD in import and export turnover and if each year, the import and export target strives to achieve 2 digits, the target of 1,000 billion USD is not far away. However, to achieve this figure, it is necessary to combine solutions with the efforts of the Ministry of Industry and Trade, the cooperation of ministries, branches, associations and enterprises is indispensable.

Source: Vitic/ congthuong.vn