Vietnam’s GDP grows 8.02% in 2025, second-highest in 15 years

Despite global economic volatility, including trade tensions and U.S. reciprocal tariff measures, Vietnam posted the highest GDP growth in Southeast Asia in 2025, the Vietnam News Agency reported, citing Nguyen Thi Huong, head of the NSO.

GDP in the fourth quarter of 2025 rose an estimated 8.46 percent compared with the same period in 2024, the highest quarterly increase in 15 years.

This contributed to full-year GDP reaching nearly VND12.85 quadrillion at current prices in 2025, equivalent to about $514 billion, representing an 8.02-percent increase from 2024.

Huong noted that this expansion is second only to the 8.12 percent recorded in 2022 over the 2011–2025 period.

She emphasized that the economy maintained a pattern of higher growth in successive quarters throughout 2025, underscoring Vietnam's resilience in a world economy still facing uncertainty.

The 2025 economic expansion brought the average GDP growth from 2021 to 2025 to about 6.3 percent per year, slightly higher than the 6.2 percent recorded in the previous five-year period.

Last year also saw GDP per capita reach VND125.5 million, or $5,026, up $326 from 2024, placing Vietnam in the upper-middle-income group in the world.

According to the NSO, industry, construction, and services were the main contributors to GDP growth in 2025.

Services expanded by 8.62 percent, remaining the largest contributor to the economic expansion, accounting for 51.08 percent.

Industry and construction grew by 8.95 percent, representing 43.62 percent of overall growth, while agriculture, forestry, and fisheries contributed 5.3 percent.

Vietnam's trade also reached record levels, with total import-export turnover exceeding $930 billion, an 18.2-percent increase from 2024.

Exports reached $475 billion, up 17 percent, supported by 36 commodities each generating more than $1 billion.

Inflation, measured by the consumer price index, averaged 3.31 percent for the year. Business activity showed strong momentum, with nearly 297,500 enterprises registering or resuming operations in 2025, a 27.4-percent increase from 2024.

On average, about 24,800 new or returning enterprises entered the market each month, while nearly 18,900 withdrew.

In the fourth quarter, the share of enterprises reporting improved conditions rose by 1.1 percent from the previous quarter, while those seeing stable or challenging conditions fell by 0.2 percent and 0.9 percent, respectively.

Looking ahead, Vietnam aims for double-digit growth in 2026 while maintaining macroeconomic stability, controlling inflation, and ensuring overall economic balance, VnExpress reported, citing Huong.

She noted that achieving these targets will require faster disbursement of public investment capital, especially for priority national projects, and the resolution of long-delayed initiatives.

Huong also stressed the importance of deep structural reforms alongside efforts to promote exports and develop the domestic market.

To attract high-value and innovative projects, she called for competitive policies that create favorable conditions for businesses, particularly in sectors such as chips, semiconductors, innovation, and green hydrogen, which could become new drivers of economic growth.