Hanoi seeks 5% export growth in 2025

Hanoi is targeting a 5% increase in exports for 2025, according to the Hanoi Department of Industry and Trade.

In addition to this goal, the department has set other ambitious targets, including achieving at least 6.95% growth in the value added by the industrial sector, boosting retail sales and service revenues by more than 9%, and maintaining the consumer price index below 4.5%.

Local workers at the Garco 10 factory. Photo: Khac Kien/The Hanoi Times

Nguyen Kieu Oanh, Deputy Director of Hanoi's Department of Industry and Trade, said the department has been looking for solutions to challenges hindering import and export activities identified since 2024. The focus will be on helping businesses explore new markets by taking advantage of free trade agreements (FTAs) to promote sustainable export growth.

Nguyen Manh Quyen, Deputy Chairman of the Hanoi People's Committee, endorsed the department's key 2025 strategy to achieve these goals. While suggesting ways to achieve sustainable export development, he encouraged the department to strengthen global economic integration and successfully implement current free trade agreements.

He stressed the need to help enterprises access foreign sales channels and promote the development of the domestic market in line with the campaign "Vietnamese people give priority to using Vietnamese goods". 

Moreover, efforts will be made to address challenges in modern trading formats, including outlets and wholesale agricultural markets, while focusing on the development and management of e-commerce to better tap the potential of the digital economy.

"By implementing these solutions, Hanoi will continue to play a leading role in the national economy," Quyen said.

Export value up 14.8%

Hanoi continues to support businesses' exports by hosting many trade fairs. Photo: Thoi Nguyen/The Hanoi Times

The Hanoi Department of Industry and Trade reported that the city’s total import-export turnover reached US$60.1 billion in 2024, up 11% year-on-year.

The report highlighted that the export value hit $19.1 billion, up 14.8% year on year. Of this, domestic enterprises contributed $11.1 billion, up 17.1%, while exports from the foreign-invested sector totaled $8 billion, up 11.9%.

Key export categories show strong growth in 2024

Vietnam's key export sectors saw significant growth in 2024, with notable increases across several categories. Computer components and peripherals led the way, reaching $2.8 billion, up 25.5%. Machinery and parts followed with $2.4 billion, reflecting a 13.3% rise, while transportation vehicles and parts hit $2.3 billion, up 23.4%.

Other strong performers included textiles, contributing $2.2 billion (up 7.7%), and agricultural products, which surged to $1.5 billion, marking a 33.8% increase. Lumber and wood products also saw a modest rise, reaching $816 million (up 4.9%), while other goods totaled $4.7 billion, up 12.9%.

However, two export categories experienced declines: petroleum, with exports valued at $1.4 billion, down 0.4%, and footwear and leather products, totaling $369 million, down 5.8%.