Viet Nam's trade with the rest of the world in January-March period reached US$202.5 billion, an increased of 13.7 percent from the same period last year.
Prime Minister Pham Minh Chinh convened a meeting on Thursday morning to discuss immediate and long-term measures after the U.S. Administration announced universal tariff range from 10- 49 percent country by country.
Viet Nam is projected to rank among the top 30 globally in both trade-growth speed and absolute volume increase, the Business Times highlighted in its recent article.
Viet Nam stood out among its Southeast Asian peers last year with robust export growth, outpacing peer manufacturing hubs Malaysia and Thailand as the country benefited from supply chain shifts away from China, according to Nikkei Asia.
As the threat of a global trade war looms, insiders held that Vietnam needs to take proactive steps to develop tailored responses that will insulate its production, business, and export activities from the effects of market volatility.
Viet Nam’s total trade with rest of the world is estimated to hit US$782 billion by the end of this year, the General Department of Customs reported on December 19.
As of November 15, Viet Nam's total import-export turnover reached US$681.48 billion, a year-on-year increase of 15.7 percent, reported the General Department of Viet Nam Customs.
Viet Nam's trade with the rest of the world reached US$647.87 billion in the first 10 months of this year, up 15.8 percent over the same period in 2023, according to the General Department of Customs.
Viet Nam is among Cambodia's three largest trading partners, with bilateral trade turnover reaching US$5.8 billion over the first nine months of this year, a year-on-year increase of 21.9 percent.
The trade volume between Viet Nam and other ASEAN Member States hit US$54.9 billion over the last eight months of this year, a year-on-year increase of 12.5 percent.