Exports, e-commerce drive Vietnam’s economic growth in 2025
Vietnam's economic prospects for 2025 are gaining momentum, bolstered by strong export growth, a rapidly expanding digital economy, and a robust e-commerce sector, according to analytics from prominent websites.
Hanoi (VNA) - Vietnam's economic prospects for 2025 are gaining momentum, bolstered by strong export growth, a rapidly expanding digital economy, and a 🌼robust e-commerce s🙈ector, according to analytics from prominent websites.
While the National Assembly has set an ambitious GDP growth target of 6.5-7% for 2025, the government expects to exceed these projections.
In its recent post on iseas.edu.sg, ISEAS-Yusof Ishak Institute in Singapore identified several key drivers supporting this optimistic outlook, including strong export growth, substantial foreign investment inflows, domestic reforms under new leadership, and accelerated infrastructure development.
However, the institute pointed out several challenges for the country such as global economic turbulence, possibility of power shortage and weak consumption.
Meanwhile, a recent article on aseanbriefing.com highlighted that Vietnam's e-commerce success is attributed to its tech-savvy young population and high social media integration. The country's digital transformation is characterised by the rise of e-commerce, digital payments, and cross-border trade, positioning Vietnam as a key player in Southeast Asia's digital economy.
The country's e-commerce market has emerged as one of Southeast Asia's fastest-growing sectors. A joint report by Google, Temasek, and Bain & Company reveals that Vietnam's digital economy reached a Gross Merchandise Value (GMV) of 36 billion USD in 2024, marking a 5 billion USD increase from 2023. The report projects this value could surge to between 90-200 billion USD by 2030. The e-commerce sector alone achieved a GMV of 22 billion USD in 2024, up 3 billion USD from the previous year, with forecasts suggesting it could reach 63 billion USD by 2030.
The market growth is further supported by widespread mobile access, expanding middle class, increasing urbanisation, and continued engagement in free trade agreements. Furthermore, the Government’s investment in digital infrastructure has streamlined customs procedures, improved internet connectivity, and enhanced payment systems, helping strengthen Vietnam's position as a cross-border e-commerce hub./.
Rice exports set new records in both volume and value in 2024 but the commodity is expected to face a difficult year ahead as India lifted its ban on non-basmati white rice exports in September, which will push up global rice supplies next year.
According to the Vietnam Textile and Apparel Association, Vietnam's textile and garment industry has fulfilled its 44-billion-USD export turnover target in 2024. The US remains the largest export market with an estimated export turnover of 16.71 billion USD, up 12.33% and accounting for 37.98% of the total turnover, followed by Japan, EU, the Republic of Korea, China, and ASEAN.
The Mekong Delta province of Vinh Long has surpassed the 1 billion USD mark in export earnings for the first time, driven by a surge in industrial production this year, according to its Department of Industry and Trade.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
