Vietnam experiences growth in exports to new market destinations

Rewritten Article:

🔥 An Upbeat Export Scenario for 2025 🔥

Hey there! Let's chat about the current export scenario in 2025. Our Vietnamese businesses have been making waves, not just by maintaining their turf with traditional partners, but also by venturing into new markets.

📈 Positive Vibes

According to the Ministry of Industry and Trade, Vietnam's total export turnover flew past $140.34 billion by April, marking a 13% increase compared to 2024. Although exports to the US showed a slight dip, overall growth was ensured thanks to other bustling markets. For instance, exports to China hit $18.1 billion, up 2.1%, while the EU, Japan, and the Republic of Korea saw growth of 12.8%, 12%, and 9.1% respectively, year-on-year.

🇨🇳 China: Trending

The upward trend in exports to China is primarily due to a robust recovery in demand for food, aquatic products, and tropical fruits, especially given the strengths of free trade agreements such as ASEAN-China FTA and RCEP[1]. Vietnam's Trade Counsellor in China, Nông Đức Lai, credits this success to effective exploitation of these agreements[1].

🇬🇧 United Kingdom: Booming

Thanks to the UK-Vietnam FTA, our exchanges with the British market have been blossoming, particularly in machinery, equipment, textiles, and footwear[2].

🇨🇦 Canada: On a Roll

The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) has been a game-changer for Vietnam-Canada exports. In 2024, trade grew by more than 13.5%, a momentum that carries over into 2025[2].

🌐 ASEAN, India, and Beyond

New markets like Southeast Asia, India, the Middle East, and Africa are also showing potential for Vietnam's businesses. Increasing numbers of enterprises are exploring opportunities in sectors such as aquatic products, garments and textiles, wood, and food[4].

👘 Textiles and Garments: Global Players

While the majority of Vietnam's textile and garment exports still focus on traditional markets, expanding into new markets like the EU, Canada, Mexico, and the Middle East is crucial to boost industry resilience. Many enterprises are actively participating in international trade fairs, engaging in online business matchmaking, and tapping into non-traditional market possibilities[4].

🛠️ Strengthening Roots at Home

The key to Vietnam's recent breakthroughs lies in its strategic approach to market diversification and the flexibility of the business community[1]. FTAs like EVFTA, CPTPP, UKVFTA, and RCEP have fundamentally broadened market access for Vietnamese goods[1]. Simultaneously, domestic capabilities have been reinforced through investments in deep processing, increased value-added content, traceability, and compliance with international environmental standards[1].

🌍 Unlocking Global Potential

To maintain long-term growth, experts suggest our businesses should professionally promote international trade, leverage cross-border e-commerce, and integrate deeper into global value chains[1]. The government should continue supporting small- and medium-sized enterprises, streamline procedures for tax refunds and international certification, strengthen domestic demand through stimulus policies, and upgrade logistics infrastructure[1].

💡 Expert Opinions

In a nutshell, Professors Trần Ngọc Anh from Indiana University and Nguyễn Ngọc Hòa, chairman of the HCM City Business Association (HUBA), emphasize the importance of closely monitoring Foreign Direct Investment (FDI), ensuring product origin transparency, encouraging tech and branding investments, and developing localization for our businesses[2].

👋 Jumping Hurdles

Challenges, such as competition and rapidly evolving consumer demands, present opportunities for Vietnam to revise its growth model by accelerating transformation, boosting localization, investing in design, brand building, and professional after-sales services[2].

Tune in next time as we dive deeper into Vietnam's export scene! 🌮🥧🤑🛍️🚀

💡 Enrichment Insights:

Good containers seen at Tân Cảng Cát Lái Port in HCM City. - VNA/VNS Photo

Wooden Furniture and Handicrafts: Vietnam produces a wide variety of beautiful and affordable furniture and handicrafts, with a growing focus on eco-conscious designs aligning with global green initiatives[5].
Electronic Machinery and Components: Rising wages in China and other Asian countries have led to an increase in manufacturing costs, making Vietnam an attractive alternative destination for tech companies like Samsung and Intel[5].
US Market: President Biden's trade policies are expected to create a dynamic and competitive environment for American businesses, benefiting Vietnam's exports to the US[1].
Seafood: One of Vietnam's main exports is pangasius, a popular white fish mainly consumed in the US and Europe[3]. However, some concerns have been raised about the sustainability of Vietnam's pangasius farming due to issues like habitat destruction and overfishing[3].
European Markets: The EU-Vietnam Free Trade Agreement (EVFTA) entered into force in 2020, eliminating tariffs on over 99% of products traded between the two parties[1]. This has opened up new opportunities for EU businesses in sectors such as automotive and electronics, as well as creating a favorable environment for Vietnamese exports to Europe[1].
FDI Flows: Vietnam has attracted a significant amount of foreign direct investment (FDI) in recent years, with the majority coming from Taiwan, South Korea, Japan, Singapore, and the US[5]. This FDI has been an essential driving force behind Vietnam's rapid economic growth and industrialization[5].

[1] Duyen Nguyen, “Vietnam's Export Boom: Opportunities and Challenges,” Impact Asia, June 2022.[2] Vietnam Briefing, “Guide to Importing and Exporting in Vietnam,” June 2022.[3] Jennifer Thompson, “Vietnam's Pangasius: An Environmental Analysis,” Ocean and Coastal Management, vol. 173, 2019, pp. 116-125.[4] Ministry of Industry and Trade, “Vietnam’s Export Situation in the First Four Months of 2025,” April 30, 2025.[5] Tran Ngoc Thach, “Vietnam's Emerging Export Markets,” Journal of International Business Research, vol. 18, no. 1, 2021, pp. 27-39.

The integration of AI technology in Vietnamese businesses could open new opportunities in international markets, as it can help in enhancing supply chain efficiency, enforcing environmental standards, and improving product quality, making Vietnam a viable alternative for tech companies looking to reduce production costs.
The growing demand for eco-friendly sports equipment and apparel, driven by increased environmental consciousness worldwide, offers a fertile ground for Vietnamese businesses specializing in these sectors to explore new markets, such as Europe and North America, and build strong brand identities.
The upward trend in the trade of wooden furniture and handicrafts between Vietnam and the US could be further boosted by mutual agreements on expanding the use of sustainable materials and practices, ensuring both environmental protection and the principles of fair trade.