By interlink | 21/03/2025
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Vietnam will be among the top 30 fastest-growing trade nations in the world by 2030.
Vietnam is poised to become one of the fastest-growing economies globally in terms of trade by the end of this decade. According to the latest report from DHL – a world leader in shipping and logistics – Vietnam will be among the top 30 fastest-growing countries in the world in terms of trade by 2030.
Vietnam will be a bright spot in global trade.
The DHL report indicates that three ASEAN countries (Vietnam, Indonesia, and the Philippines) will be in the top 30 in terms of both volume and proportion of goods traded. It is predicted that between 2024 and 2029, Vietnam will achieve a compound annual growth rate (CAGR) of 6.5%, higher than the 6.2% achieved between 2019 and 2024. This demonstrates Vietnam’s strong and stable growth trend amidst the volatile global trade environment.
Furthermore, global trade CARG is projected to reach 3.1%, and ASEAN’s CARG ranks third globally, at approximately 5%, after South Central Asia (5.6%) and Sub-Saharan Africa (5.3%).
Vietnam’s Competitive Advantage in the Global Supply Chain
The trend of shifting global supply chains is creating many opportunities for Vietnam. One of the factors driving this global growth is the “China +1” trend, meaning businesses are seeking a manufacturing destination outside of China, making Vietnam a top choice in the region. Vietnam has attracted many corporations such as Samsung, Intel, Foxconn, LG, Nike, and Adidas; contributing to the export of high-tech products such as phones, computers, electronic components, and microchips. A favorable business environment, strategic geographical location, and competitive labor costs are also important factors helping Vietnam attract foreign investment.
Vietnam’s Achievements in the Past Year
According to statistics from the World Trade Organization (WTO), in 2023, Vietnam’s total import and export turnover reached US$683 billion, of which exports reached US$352 billion, placing Vietnam in the top 20 in the world for exports. Total import and export turnover in 2024 is projected to reach US$786.29 billion, an increase of 15.4% compared to the previous year, with exports increasing by 14.3% and imports by 16.7%, resulting in a trade surplus of US$24.77 billion. This demonstrates that Vietnam is leading the ASEAN region in trade growth rate and has surpassed many large economies in the region.
In summary
With this strong growth, experts predict that Vietnam could enter the top 30 fastest-growing economies in the world by 2030. Vietnam is not only taking advantage of its deep integration into the international market but is also transforming itself into an important manufacturing hub in Asia. In the context of continued global trade growth, expanding and optimizing supply chains, logistics, and e-commerce will help Vietnam maintain its competitive position in the region and globally.
NEWS & BLOG
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