The Vietnam General Statistics Office released the 2025 economic report, revealing that the country's Gross Domestic Product (GDP) grew by 8.02% compared to the previous year. This marks the highest growth rate in three years and reinforces Vietnam's image as a successful economy in the Asian region.
Although last year the United States, Vietnam's largest export market, began imposing new customs tariffs on clothing and footwear products, exports to the U.S. still expanded by 28%, increasing in value from $119 billion in 2024 to $153 billion in 2025.
In April, former President Donald Trump announced tariffs under the "Liberation Day" policy targeting countries with the largest trade surpluses with the U.S., with Vietnam ranking third after China and Mexico. However, in July, the Vietnamese government successfully negotiated to reduce tariffs from over 40% to a minimum of 20% in exchange for opening Vietnam's market to U.S. products such as automobiles.
Notable 2025 statistics show Vietnam's total exports at $475 billion, up 17%, and total imports at $455 billion, up 19%, with China as the main import source. The industrial and construction sectors grew nearly 9%, while the service sector grew about 8.6%. In the fourth quarter alone, the economy expanded by 8.46%, the highest quarterly growth in 14 years.
Chad Ovel, a partner at Mekong Capital, noted that despite risks from U.S. tax policies, Vietnam has demonstrated resilience through strong domestic consumption, private sector investment, and government spending, reflecting a solid economic foundation.
Following growth rates of around 5% in 2023 and 7% in 2024, the Vietnamese government has set a more ambitious target for 2026, aiming for at least 10% GDP growth to propel the country toward "middle-income country" status by 2030, in line with its national strategic plan.
,AFP