However, the trade surplus narrowed to US$20.05 billion, down from US$24.77 billion in 2024. Growth model reaching its limitsAlongside the US$930 billion trade record, Lam pointed to a steady decline in the size of the trade surplus. Record turnover therefore does not fully reflect the economy’s internal strength or the efficiency of its international trade activities. The 2025 trade picture also suggests that the international trade growth model based on scale expansion, low labor costs and assembly processing is approaching its limits. Reducing reliance on imported inputs should become a central mission of international trade policy.

Source: VietNamNet News February 23, 2026 08:12 UTC