Vietnam’s economy continues to demonstrate resilience and growth, driven by increasing global integration and a strategic focus on self-reliance. This assessment comes as the nation’s total import-export value reached $883.7 billion in 2025, surpassing the 2024 figure and exceeding targets needed to secure 8% GDP growth.
Self-Reliance as a Cornerstone
According to Professor Hoang Van Cuong, a member of the National Assembly and the Prime Minister’s Policy Advisory Council, Vietnam’s sustained economic performance is fundamentally rooted in its capacity for self-sufficiency. “The Vietnamese economy has maintained a relatively positive growth rate, based primarily on a fundamental pillar: its self-reliance,” Cuong stated in a recent interview. This inherent strength has allowed the country to weather external economic shocks more effectively than many of its peers.
The deepening of international economic integration is also a key driver of economic and social development, strengthening Vietnam’s position on the international stage. This dual approach – prioritizing domestic strength while actively engaging in the global market – appears to be a winning formula for the Southeast Asian nation.
Export Sector Resilience
Vietnam’s export sector has been a particularly strong contributor to this success, demonstrating an ability to maintain momentum even amidst global fluctuations. The country’s total export value reached $451.2 billion in 2025, a significant increase over the previous year. This performance underscores Vietnam’s growing importance within global production and trade chains.
This success isn’t accidental. Professor Cuong highlighted the strategic role of the Vietnamese government, particularly the Ministry of Industry and Trade, in fostering this integration. The ministry’s proactive approach to market access, coupled with support mechanisms for Vietnamese businesses, has been instrumental in expanding the country’s trade network.
Expanding Trade Networks and Institutional Reform
Vietnam has actively expanded its market reach, establishing a network of 17 free trade agreements. These agreements provide access to large and demanding markets, creating new opportunities for growth in exports, production, and investment. This diversification of markets is a deliberate strategy to reduce reliance on a few traditional partners and enhance the economy’s ability to respond to global trade shifts.
The pursuit of international economic integration has also spurred institutional reforms and improvements to the business environment. Compliance with international commitments necessitates adjustments to the political and legal systems, increasing transparency, predictability, and efficiency in governance. These improvements, in turn, bolster investor confidence and attract high-quality investment capital.
Navigating a Volatile Global Landscape
Looking ahead to 2026, Vietnam faces a complex global economic environment. The EY Global Economic Outlook points to a slowing global economy amid persistent supply shocks, adding to the challenges. However, Vietnam’s demonstrated resilience and proactive approach to economic management position it to navigate these headwinds.
Professor Cuong emphasized the importance of maintaining a consistent approach to economic management: prioritizing stability to foster development, and leveraging development to strengthen stability. This principle has been a cornerstone of Vietnam’s success in recent years and will continue to guide its economic policy.
Proactive Management and Flexibility
Vietnam’s ability to adapt to changing circumstances was evident in 2025, when the United States adjusted its trade policies. Despite these changes, Vietnam maintained a proactive approach, ensuring that import and export activities continued to grow at a positive rate. This experience underscores the importance of alertness, flexibility, and proactive management in an uncertain global environment.
The nation recognizes that the global landscape is fraught with unpredictable risks, and a stagnant economy is not an option. This requires flexible, dynamic, creative, and timely management strategies. However, this flexibility is always grounded in the fundamental principle of maintaining macroeconomic stability, as reflected in key economic indicators.
Vietnam as a “Connector Economy”
Recent analysis suggests Vietnam is increasingly functioning as a “connector economy,” interlinking the US and Chinese economies. The country relies heavily on key Northeast Asian economies, particularly China, for imports, while its exports are largely driven by demand from the US market. This conforms to a regional industrialization model seen in other high-growth economies, where supply originates in East Asia and consumption occurs in the West.
However, this reliance on foreign direct investment (FDI) has also had a side effect: it has potentially stunted domestic technological advancement. FDI has largely been directed towards export-oriented industries, with limited linkages to Vietnamese firms. Domestic companies primarily operate in sectors like real estate and retail, with limited involvement in export and long-term capability building.
The “Bamboo Diplomacy” Strategy
Vietnam is also pursuing a strategy of diversified partnerships, often referred to as “bamboo diplomacy,” to ensure both economic integration and national security. This approach positions Vietnam as a bridge-builder, fostering relationships with a wide range of countries and reducing its dependence on any single partner.
As Vietnam looks to build on its economic successes in 2026, maintaining a balance between self-reliance, global integration, and proactive risk management will be crucial. The nation’s demonstrated ability to adapt and innovate suggests it is well-positioned to continue its trajectory of growth and resilience in an increasingly volatile world.
