The Vietnamese economy grew at 8.02% last year, the second highest rate in the last 15 years, driven mainly by services and industry.
Fourth quarter growth was 8.46% year-on-year, according to data released Monday by the General Statistics Office.
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Workers walk in a factory of steelmaker Hoa Phat Group in Quang Ngai, April 2024. Photo by VnExpress/Giang Huy |
Vietnam’s performance stood out amid the global economic volatility, particularly trade tensions and the U.S.’ reciprocal tariff policies, and was the highest growth rate in Southeast Asia and among the world’s highest.
The growth rate was second only to 2022 when the economy expanded by 8.12% after the Covid-19 pandemic.
In 2025 GDP grew to US$514 billion and per capita income to $5,026, making Vietnam an upper-middle-income country. Inflation for the year was up at 3.31%.
The services sector was the largest contributor to the economy, accounting for a 51.1% share. Industry and construction accounted for 43.6% and agriculture, forestry and fisheries for the rest.
Trade was at a record $930 billion after rising by 18.2%, with exports rising by 17% to $475 billion.
In 2025 some 297,500 enterprises were registered or revived, a 27.4% increase.
The National Assembly has set a GDP growth target of 10% for next year, which will take per capita income to $5,400-5,500.
