Vietnam’s growth outlook this year is clouded by uncertainty in global trade, despite forecasts from international financial institutions that the country’s economic growth will remain among the highest in the region. Awaiting trade barriers to be relieved Nguyen Thuy Hanh, CEO of Standard Chartered Vietnam, said businesses and clients of the bank see reciprocal tariffs as a key source of uncertainty weighing on growth prospects this year. She added that ongoing negotiations with the U.S. to determine tariff rates on so-called transshipped goods are critically important. Vietnam’s international trade has shifted from anxiety to optimism. Despite being seen as one of the Asian economies most vulnerable to tariff risks, the country posted a record trade turnover of US$928 billion last year, up 18% from a year earlier, buoyed by a surge in accelerated orders, according to a report by HSBC. As the impact of front loaded shipments to the U.S. market gradually eased, Vietnam continued to benefit from exporting products that were considered “well suited” to demand, including electronics. Electronics accounted for 35% of total export value, while exports to the United States rose by nearly 30% year-on-year. Therefore, analysts are increasingly concerned that export momentum could slow in 2026. […]
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