HCMC — Vietnam’s exports rose 10.6% year-on-year in the first quarter of 2025 despite mounting global trade tensions.
Total trade in the quarter was estimated at US$202.5 billion, up by 13.7% from a year earlier, according to the latest data from the Ministry of Industry and Trade (MOIT). Exports accounted for US$102.8 billion, while imports rose 17% to US$99.68 billion, resulting in a trade surplus of US$3.15 billion.
The MOIT said global trade conditions have become more volatile following the return of Donald Trump to the U.S. White House.
On April 2 (local time) Trump announced sweeping 10% tariffs on all imports to America, with effect from April 5. About 60 countries or trading blocs will face even higher rates as from April 9, with Vietnam hit with a huge reciprocal tariff of 46%.
The ministry said the new U.S. trade policy would affect trade, currency markets, and foreign investment in Vietnam.
Vietnam’s March trade value rose sharply. Exports were estimated at US$38.5 billion, up by 23.8% from February and 14.5% from a year earlier. Imports reached US$36.87 billion, up by 12.9% month-on-month and 19% year-on-year. Total trade for the month rose by 16.8% from February.
Domestic firms outpaced foreign-invested enterprises in export growth. Local companies exported US$29 billion in Q1, up by 15% year-on-year, compared to a 9% increase to US$73.8 billion for foreign-invested firms.
Exports to most major markets rose, except China. The MOIT said the Q1 export growth rate remained below the 12% full-year target but exceeded projections tied to an 8% GDP growth scenario.
According to Bui Huy Son, head of the Planning, Finance, and Enterprise Management Department at the MOIT, the month-over-month improvement signals positive momentum for Vietnam’s export sector.
However, global uncertainties, particularly trade friction with the U.S., will remain a significant challenge in the months ahead.
