Vietnam’s gross domestic product (GDP) grew 8.02% in 2025, according to the National Statistics Office under the Ministry of Finance of Vietnam, marking the second-fastest growth rate in the 2011-2025 period behind year 2022 with GDP growth of 8.12%.

The country’s GDP in 2025 was estimated at US$514 billion and GDP per capita rose to US$5,026. Services remained the largest contributor to economic growth, accounting for more than 51% of total value added. Industry and construction grew 8.95%, contributing 43.62% to overall growth, while agriculture, forestry and fisheries accounted for 5.3%.

Economy growth despite US tariffs

Despite the US government posing 20% levy on Vietnam’s goods in the third quarter of 2025, Vietnam, as one of the top exporters to the US, has not stopped in its economic expansion.

Economic growth accelerates quarter by quarter throughout year 2025, with the third quarter GDP grew 8.22% from the growth of 7.96% in the second quarter. GDP growth continued in the fourth-quarter to 8.46% year-on-year, which is the strongest quarterly performance since 2021.

Trade activity also achieved new record. Exports reached US$475 billion, a 17% increase, with 36 product categories generating more than US$1 billion each.

Strategy to become “mini-China”

One of the factors driving Vietnam’s economic growth is the country’s “mini-China” atmosphere, including low labor and land cost, which appeals to global manufacturing giants.

Foreign multinationals, such as Samsung, Apple, and Nike, assemble their products in Vietnam.

Higher aim in 2026

In 2026, Vietnam aims to achieve double-digit growth while maintaining macroeconomic stability, controlling inflation and safeguarding key economic balances.

Nguyen Thi Huong, director general of the National Statistics Office, pointed out that this growth aim would require stronger measures to speed up public investment disbursement, especially for major national projects, and to resolve long-delayed projects.

The director general also emphasized the need to deepen economic restructuring, boost exports and further develop the domestic market.