SUMMARY

ECONOMIC HIGHLIGHTS OF VIETNAM 2025

In 2025, Vietnam recorded peak-cycle growth, with GDP expanding by 8.02% year on year—one of the highest rates in nearly three decades—well above regional averages and most international forecasts, despite weakening global growth, rising uncertainty, and mounting domestic exchange-rate pressures.

Growth momentum spread across all three pillars of aggregate demand, supported by an accommodative monetary stance, early credit expansion, and efforts to remove institutional bottlenecks. Public investment regained its leading role, while FDI disbursement reached a record high.

Manufacturing and exports rebounded strongly, exceeding expectations. The industrial production index rose by 9.23%, with the manufacturing sector up 10.5%. Export turnover hit a record USD 475.1 billion, an increase of 17% year on year, despite major global trade shocks.

However,

Growth remained heavily dependent on the FDI sector (accounting for around 77% of total exports), while domestic enterprises weakened noticeably.
Domestic consumption continued to grow but lacked a strong breakout, with real growth of around 6.7%, constrained by cautious consumer sentiment and less favorable labor-market conditions.

Overall, 2025 marked the peak of the current growth cycle while clearly exposing the limits of the existing development model, which remains reliant on FDI, investment, and credit. At the same time, it was a pivotal year, as reforms in institutions, government organization, infrastructure, and the development of new markets signaled a shift from planning to execution—opening room for a medium-term re-positioning of growth, provided policy implementation remains consistent and effective.

TABLE OF CONTENTS

A. EXECUTIVE SUMMARY

B. INTERNATIONAL HIGHLIGHTS 2025

C. DOMESTIC HIGHLIGHTS 2025

D. KEY ACHIEVEMENTS IN TRANSPORT INFRASTRUCTURE

E. LOCAL ECONOMIC MAP

F. VIETNAM MACROECONOMIC OVERVIEW

Overview of Vietnam’s economy in 2025
GDP growth by selected sectors
Business performance of enterprises (domestic production & business registration)
Import and export developments
General overview
Export performance of selected product groups
Market structure
Domestic consumption trends
State budget and investment situation (Public sector & FDI)

G. FINANCIAL MARKET

Credit system
Government bonds
Corporate bonds
Stock market

I. SECTORAL ECONOMY

Real estate
Insurance
Electricity
Tourism
Transportation – Aviation / Seaports
Oil & gas and petrochemicals
Steel
Textile and Garment & Footwear
Seafood – Pangasius / Shrimp
Wood & wood products
Fertilizer
Rubber
Agricultural products – Rice / Cashew / Coffee / Pepper

L. COMMODITY PRICES & EXCHANGE RATES

Key exchange rate pairs
Prices of selected international and domestic commodities
International freight rates

K. APPENDIX – VIETNAM’S MERCHANDISE TRADE WITH MAJOR PARTNERS

Appendix 1: Detailed export scale and growth by product groups and economic sectors
Appendix 2: Merchandise trade between Vietnam and the United States
Appendix 3: Merchandise trade between Vietnam and China
Appendix 4: Merchandise trade between Vietnam and the European Union
Appendix 5: Merchandise trade between Vietnam and ASEAN
Appendix 6: Merchandise trade between Vietnam and South Korea
Appendix 7: Merchandise trade between Vietnam and Japan

Total foreign direct investment inflows for January-November have narrowed the gap

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