Vietnam's Foreign Trade: 81-Year Transformation and Record Growth
Since its independence in 1945, Vietnam has undergone a major transformation in merchandise trade, reaching a trade volume of $659.58 billion in the first seven months of 2026.
Over the 81 years since its independence, Vietnam has transitioned from an agricultural production base into an industrialized foreign trade economy, increasing its trade volume by 28.1% in the first seven months of 2026.
Historical Transformation
Starting from an underdeveloped agricultural production base following its independence in 1945 and the subsequent period, Vietnam gradually revitalized production and expanded its trade capacity. The Doi Moi process unleashed productive forces, enabling the country's goods to reach global markets. The nation has evolved from experiencing product shortages to becoming one of the world's leading trading economies.
Export Figures
Export turnover, which stood at just over $2 billion in 1991, made a massive leap by reaching $162 billion in 2015. While the trade balance maintained a continuous surplus from 2016 through the end of 2025, exports grew at an average annual rate of 10.8% during the 2021–2025 period.
First Seven Months of 2026
In the first seven months of 2026, total trade volume increased by 28.1% compared to the same period last year, reaching $659.58 billion. Exports rose by 21.7% to $319.53 billion, with 31 product categories exceeding $1 billion and accounting for 93% of total exports.
Share of Industrial Products
The processed industrial goods group reached $287.91 billion, making up 90.1% of total export turnover. This represents a qualitative shift indicating the transition of exports from agricultural and mineral products to industrial manufacturing.
Future Objectives
Deputy Prime Minister Pham Gia Tuc stated that support for key export sectors will continue and markets will be diversified. The goal is to explore potential areas such as Africa, the Middle East, Latin America, and Halal markets.
Value-Added Growth
While processing industries account for the majority of exports, the objectives include increasing the localization rate and the use of technology. Developing supporting industries aims to strengthen the country's position in global supply chains.