VIETNAM’S GDP GROWS 8.02% IN 2025

A view of downtown HCMC from across the Saigon River - PHOTO: NGOC NGUYEN

HCMC – Vietnam’s economy expanded by 8.02% in 2025, marking the second-fastest growth rate in the 2011–2025 period, driven mainly by services and industrial production, official data showed on January 5.

According to the National Statistics Office under the Ministry of Finance, gross domestic product (GDP) grew 8.46% year-on-year in the fourth quarter of 2025, the strongest quarterly performance since 2021. Full-year growth was second only to 2022, when GDP picked up 8.12%.

The economic expansion came despite continued global economic uncertainties, including trade tensions and U.S. reciprocal tariffs. Vietnam’s growth rate was the highest in ASEAN and among the top performers globally.

Average GDP growth in the 2021–2025 period reached about 6.3% per year, slightly higher than the 6.2% seen in the previous five-year term.

Vietnam’s GDP in 2025 was estimated at US$514 billion, up US$38 billion from a year earlier. GDP per capita rose to US$5,026, an increase of US$326 from 2024, placing Vietnam in the upper-middle-income group. Consumer prices rose 3.31% on average last year.

Services remained the largest contributor to economic growth, accounting for more than 51% of total value added. The sector’s value added rose 8.62% from 2024. Industry and construction grew 8.95%, contributing 43.62% to overall growth, while agriculture, forestry and fisheries accounted for 5.3%.

Trade activity hit a new record. Total import-export turnover exceeded US$930 billion in 2025, up 18.2% year-on-year. Exports reached US$475 billion, a 17% increase, with 36 product categories generating more than US$1 billion each.

Business activity also improved. Nearly 297,500 enterprises were newly established or resumed operations during the year, up 27.4% from 2024, averaging almost 24,800 per month. At the same time, around 18,900 businesses exited the market each month.

Business sentiment strengthened in the fourth quarter. The proportion of firms reporting improved conditions rose by 1.1 percentage points from the previous quarter, while those citing stable or more difficult conditions declined.

Nguyen Thi Huong, director general of the National Statistics Office, said fourth-quarter GDP growth was the highest in the 2021–2025 period, with economic expansion accelerating quarter by quarter throughout the year.

Looking ahead, Vietnam aims to achieve double-digit growth in 2026 while maintaining macroeconomic stability, controlling inflation and safeguarding key economic balances. Huong said this would require stronger measures to speed up public investment disbursement, especially for major national projects, and to resolve long-delayed projects.

She also highlighted the need to deepen economic restructuring, boost exports and further develop the domestic market. For businesses, she said authorities should adopt more competitive and supportive policies to attract large-scale, high-tech projects.

Vietnam should pursue more selective foreign investment, focusing on sectors with strong growth potential such as chips, semiconductors, innovation and green hydrogen, she added.

Source: The Saigon Times