Vietnam will be a key driver of global trade growth, with its exports projected to reach US$618 billion by 2030, an annual growth rate of 7 per cent, outpacing the global average of 5 per cent by a significant 2 percentage points.

This information was released in the Future of Trade: New opportunities in high-growth corridors research report by Standard Chartered. The report projects that global trade is set to reach $32.6 trillion with a growth rate of 5 per cent by 2030.

Trade corridors anchored in Asia, Africa and the Middle East will outpace global trade growth rate by up to four percentage points, driving combined trade volume in these regions to $14.4 trillion to account for 44 per cent of global trade by 2030.

Mainland China, South Korea and the US are expected to be Vietnam’s key trade partners in the coming years. Meanwhile, trade with India, Singapore and Indonesia is forecast to experience robust growth from 2021-30.