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Vietnam among world’s fastest-growing economies in terms of trade
Vietnam’s trade volume is forecast to grow at a compound annual rate of 6.5% from 2024 to 2029, up from 6.2% in the 2019-2024 period.
Vietnam is set to rank among the world’s 30 fastest-growing economies in both trade-growth speed and absolute volume increase by 2030, according to a forecast by German logistics provider DHL.
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A container truck transporting import-export goods operates at Gemalink International Port, Phu My township, Ba Ria-Vung Tau province. |
The Business Times cited DHL’s latest report as saying that Southeast Asian countries are set for accelerated trade growth over the next five years, with Vietnam, Indonesia, and the Philippines expected to rank among the world’s 30 fastest-growing economies in both trade-growth speed and absolute volume increase by 2030.
Vietnam’s trade volume is forecast to grow at a compound annual rate of 6.5% from 2024 to 2029, up from 6.2% in the 2019-2024 period.
The report also suggests that US President Donald Trump's tariff policies are unlikely to reverse the overall trend of global trade growth.
One of the key drivers of trade growth in Southeast Asian countries is the increase in supply chain diversification strategies, as businesses seek to move their supply chains out of China to alternative locations.
Vietnam, for instance, has benefited in the past as a favoured alternative for electronics manufacturing.
DHL highlights Southeast Asia’s increasing role as a manufacturing hub for European and North American firms. With Vietnam already among the world’s top 40 economies and top 20 in global trade volume, its rise into the top 30 fastest-growing economies in terms of trade appears well within reach.
Prime Minister Pham Minh Chinh said great efforts are needed to complete 3,000 kilometres of expressways nationwide this year. He also highlighted other targets like putting into operation such aviation projects as Long Thanh International Airport and Terminal 3 at Tan Son Nhat International Airport, as well as various seaports.
The Central Steering Committee for the Development of Science, Technology, Innovation and Digital Transformation held its second meeting in Hanoi on March 4 under the chair of Party General Secretary To Lam.
Vietnam is ramping up 5G expansion under a new government directive aimed at boosting digital infrastructure and driving economic growth.
BAC GIANG - For many consecutive years, Bac Giang has had the leading economic growth rate in the country. Implementing the direction of the Central Government, the province is focusing on implementing solutions to strive to achieve the growth target of 13.6% in 2025 - the highest in the country.
Prime Minister Pham Minh Chinh has called on small- and medium-sized enterprises (SMEs) to push beyond their limits and strive for growth at a Government conference with the group on February 27.
At the 9th extraordinary session of the 15th National Assembly on February 19, 2025, the National Assembly passed a resolution supplementing the 2025 socio-economic development plan, setting a GDP growth target of at least 8%. The resolution was approved with 463 out of 464 delegates voting in favour, accounting for 96.86% of the total.
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