Economic Indicators, FDI, and Trade Trends

Vietnam recorded strong economic momentum in 2025, with GDP estimated by the General Statistics Office to have expanded by 8.02 percent despite challenging global conditions and the impact of natural disasters. Nominal GDP is projected at nearly VND 12.85 quadrillion (approximately US$514 billion), an increase of about US$38 billion from the previous year, while GDP per capita rose to roughly US$5,026. Growth was broad-based across all major sectors, led by industry and construction, which expanded by 8.95 percent, and supported by services, which accounted for just over half of total economic output and remained the primary driver of overall growth.

Inflation remained well contained and within the National Assembly’s policy target. Consumer prices increased by 3.31 percent in 2025, driven mainly by higher housing-related costs, food services, healthcare, and education. Rising rents, electricity tariffs, and housing maintenance materials were the largest contributors to price increases, alongside adjustments in medical service fees and moderate increases in food and dining costs. These pressures were partially offset by declines in transport prices due to lower fuel costs and modest deflation in information and communications products.

Core inflation stayed below headline inflation, averaging 3.21 percent for the year, reflecting limited underlying price pressure once volatile components such as food, energy, healthcare, and education were excluded. Overall, the combination of strong output growth and controlled inflation points to a resilient macroeconomic environment, underpinned by diversified sectoral expansion and stable price management, providing a supportive backdrop for investment and policy continuity in the coming period.

Trade trends

Vietnam’s external trade expanded strongly in 2025, with total trade turnover exceeding US$930 billion, representing an 18.2 percent year-on-year increase. The country recorded a trade surplus of approximately US$20 billion, supported by robust export growth alongside rising import demand. A clear structural divide persisted between domestic and foreign-invested enterprises: the domestic sector posted a trade deficit of US$29.4 billion, while the foreign-invested sector generated a surplus of nearly US$49.5 billion, underscoring its dominant role in Vietnam’s export-oriented growth model.

Exports reached US$475 billion, up 17 percent from the prior year, with strong momentum continuing into December. Foreign-invested enterprises accounted for more than three-quarters of total exports, posting double-digit growth, while shipments from domestic firms declined modestly. Processed industrial products remained the backbone of export performance, contributing nearly 90 percent of total export value, complemented by steady contributions from agriculture, forestry, seafood, and limited fuel and mineral exports. This structure highlights Vietnam’s continued specialization in manufacturing-based exports integrated into global supply chains.

Imports grew even faster than exports, rising 19.4 percent year on year to US$455 billion, reflecting strong demand for production inputs tied to manufacturing expansion and infrastructure activity. Foreign-invested enterprises drove most of the import growth, while imports by domestic firms edged lower. The import basket was heavily weighted toward machinery, equipment, spare parts, raw materials, and fuels, which together accounted for more than 90 percent of total imports, while consumer goods remained a relatively small share. This composition reinforces Vietnam’s dependence on imported intermediate inputs to sustain export competitiveness.

Trade balances varied significantly across major partners. The United States remained Vietnam’s largest export market, generating a substantial trade surplus, followed by the European Union. In contrast, Vietnam continued to run large and widening trade deficits with China, South Korea, and ASEAN, reflecting reliance on these markets for intermediate goods, components, and industrial inputs. Overall, the 2025 trade data illustrates strong external momentum, deep integration into regional and global value chains, and persistent structural dependence on foreign-invested enterprises and imported production inputs.