HANOI, October 6, 2025: Vietnam’s economy grew by 7.85 percent in the first nine months of 2025, according to official figures released by the General Statistics Office under the Ministry of Finance, positioning it as the country’s second-strongest performance for the period in 15 years. The growth was only surpassed by the 9.44 percent expansion recorded during the same timeframe in 2022. The Vietnamese economy recorded a particularly strong third quarter, with gross domestic product rising 8.22 percent year-on-year.
Growth was broad-based across key sectors, reinforcing the country’s ongoing recovery from external shocks and natural disruptions earlier in the year. Industrial and construction output remained a key driver of expansion, increasing by 8.55 percent over the nine-month period. Manufacturing and processing posted a robust 9.92 percent rise, while construction activities advanced by 9.33 percent. The services sector grew 8.49 percent, supported by gains in domestic trade, transportation, tourism, financial services and hospitality.
Wholesale and retail trade rose 8.28 percent, transport and warehousing climbed 10.68 percent, banking and insurance grew 7.06 percent, and accommodation and catering services advanced 10.15 percent. The agro-forestry-fishery sector also posted positive results, with crop production up 3.46 percent, forestry 6.46 percent, and fisheries 4.48 percent. The sector accounted for 11.3 percent of the national GDP during the reporting period, while industry and construction contributed 37.58 percent and services 42.92 percent.
Industrial and construction sectors lead growth
On the demand side, final consumption expenditure rose 8.07 percent, and gross capital formation expanded 8.52 percent. Exports surged 15.51 percent while imports grew 16.75 percent, reflecting strong international trade activity despite newly imposed tariffs from the United States on select Vietnamese goods earlier this year. Vietnam’s total trade turnover reached $680.66 billion in the first nine months, with a recorded trade surplus of $16.82 billion.
Growth in electronics, machinery and agricultural commodities helped offset declines in sectors affected by tariffs, including a 27 percent drop in footwear exports and a 20 percent decline in textiles during September. Severe weather events, including Typhoon Bualoi, disrupted agricultural and industrial activity in several provinces. The storm made landfall in late September, resulting in 51 confirmed fatalities and estimated damages of 15.9 trillion dong, equivalent to approximately $603 million.
Financial institutions urged to support recovery
Authorities have directed banks to provide credit relief to affected businesses, including loan restructuring measures. In response to ongoing economic pressures, the State Bank of Vietnam reaffirmed its focus on supporting growth and maintaining financial system stability. The central bank is targeting a credit growth range of 19 to 20 percent for 2025 and has encouraged commercial banks to lower lending rates while managing exposure to high-risk sectors.
Despite external trade pressures and domestic disruptions, Vietnam’s economic momentum has remained resilient. The government has maintained its full-year growth target in the 8.3 to 8.5 percent range, although international institutions including the World Bank have revised forecasts downward in recent months, citing global economic conditions and export challenges. Vietnam’s latest figures underline the strength of its industrial base, expanding service sector, and improving domestic consumption, positioning it among the fastest-growing economies in Southeast Asia in 2025. – By Content Syndication Services.