Q3 GDP GROWS 8.22%

Finance Minister Nguyen Van Thang speaks at a Government meeting on October 5 - PHOTO: VGP

HCMC – Vietnam’s gross domestic product (GDP) rose an estimated 8.22% in the third quarter against the year earlier, the highest growth rate for the period since 2011, excluding the post-pandemic rebound in 2022, the Ministry of Finance said.

At a Government meeting on October 5, Finance Minister Nguyen Van Thang said the economy maintained growth momentum despite external risks and domestic challenges.

GDP expanded 7.84% in the first nine months of 2025, keeping pace with the Government’s full-year growth target of around 8%.

The agriculture, forestry and fishery sector grew 3.74% in the third quarter, industry and construction rose 9.46%, and services increased 8.54%. Over the nine-month period, the three sectors expanded 3.83%, 8.69%, and 8.48%, respectively.

Manufacturing continued to lead growth, rising nearly 10% in the third quarter and 9.92% in the first nine months. The mining sector rebounded with a 9.8% increase.

Inflation remained under control, with the September consumer price index (CPI) up 3.38% year-on-year and the nine-month average up 3.27%.

State budget revenue in the first nine months reached VND1.92 quadrillion, equivalent to 97.9% of the full-year target and up 30.5% year-on-year.

About 27,500 businesses were newly established or resumed operations in September, up 55.6% from a year earlier. In January-September, more than 231,000 companies were newly registered or returned to business, up 26.4%. Additional registered capital reached VND3.3 quadrillion, up 186.5%.

Vietnam was hit by eight storms in the third quarter, including four in September, with Storm Bualoi causing estimated damage of over VND16.5 trillion.

The Finance Ministry warned of ongoing risks to growth, including global uncertainty, slow institutional reforms, and the impact of natural disasters. It called for stronger legal reforms, improved administrative efficiency, and policies to boost exports, investment, and domestic consumption.

Source: The Saigon Times