Vietnam’s export momentum to the US is among the strongest in ASEAN. In the first nine months of 2025, exports to the US increased from approximately USD 88 billion to USD 113 billion, a gain of nearly USD 25 billion, representing about 28% year-on-year growth.
This growth outpaces most regional peers in absolute value. Thailand’s exports to the US grew by around USD 12 billion, Indonesia by USD 4 billion, and the Philippines by less than USD 1 billion over the same period.
However, Vietnam’s competitiveness does not rest on the US market alone.
Exports to China rose from about USD 44.5 billion to USD 49.6 billion (+11%). Shipments to the EU increased by roughly USD 3.6 billion (+9%). Korea and Japan both recorded growth close to 10–13%. In total, Vietnam’s exports across all markets expanded from around USD 248 billion to USD 286 billion in nine months.
This matters because it shows Vietnam is not purely “US-pulled.” While the US remains the largest growth driver, Vietnam is maintaining expansion across multiple major markets simultaneously.
For manufacturers, this multi-market reach reduces single-market risk. For industrial park developers, it enables more diversified tenant portfolios serving different regions, not just the US.
Compared with some ASEAN peers that are still heavily dependent on one or two destinations, Vietnam’s export profile already reflects a more diversified demand base at scale.
The strategic implication is clear: Vietnam offers both volume and optionality. Manufacturers can scale quickly into the US while maintaining access to China, the EU, and Northeast Asia from the same production base.
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