VIETNAM TARGETS US$500 BILLION IN EXPORTS IN 2026

Export cargo is transported to a deep-water port – PHOTO: ARCHIVES

HCMC – Vietnam is aiming to push its export revenue beyond US$500 billion in 2026 after recording strong growth last year.

Export revenue reached more than US$475 billion in 2025, up over 17% year-on-year, or an increase of about US$69 billion, according to the Ministry of Industry and Trade. The result came despite weak global growth and tough trading conditions in major markets.

For 2026, the ministry forecasts export growth of about 8%, lifting revenue to around US$513 billion. Vietnam is also expected to maintain a trade surplus of more than US$23 billion, up 15% from 2025. Tran Thanh Hai, deputy director general of the Agency for Foreign Trade at the Ministry of Industry and Trade, said the target remains challenging amid ongoing global uncertainties.

Major export sectors have set ambitious plans to support the goal. The textile and garment industry, which earned US$46 billion in 2025, is targeting about US$50 billion this year, an increase of more than 9%. Vu Duc Giang, chairman of the Vietnam Textile and Apparel Association (Vitas), said the target reflects long-term supply chain restructuring and more effective use of free trade agreements.

In agriculture, several product groups are approaching the US$10-billion threshold. Fruit and vegetable exports reached nearly US$8.6 billion in 2025, up 20% from the previous year, according to Dang Phuc Nguyen, general secretary of the Vietnam Fruit and Vegetable Association (VINAFRUIT). Exports this year are projected at US$9.5–10 billion.

Coffee exports also hit a record US$9 billion in 2025, up 59% from 2024, said Nguyen Nam Hai, chairman of the Vietnam Coffee and Cocoa Association (VICOFA). High global prices have encouraged reinvestment in farming and replanting with higher-quality varieties, supporting a forecast output increase of 5–10% this year.

Electronics, computers and components remained Vietnam’s largest export group, with revenue of US$107.7 billion in 2025, accounting for nearly 23% of total exports and rising more than 48% year-on-year. Including related items such as mobile phones and components, total electronics exports were estimated at US$164.4 billion and are expected to continue growing in 2026.

Associate Professor Dr. Nguyen Thuong Lang at the Institute of International Trade and Economics, National Economics University, said Vietnam is well positioned to reach the US$500 billion milestone, citing strong performance across key sectors and the country’s extensive network of free trade agreements.

He added that both high-tech and traditional industries, including textiles, footwear and agro-forestry-fisheries products, have shown increasing resilience amid volatile global trade conditions.

Source: The Saigon Times