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Key Highlights of Vietnam’s Economy in Q3/2025
Vietnam’s economy accelerated strongly in Q3/2025, expanding +8.23% YoY, far exceeding forecasts by major international institutions (IMF, World Bank, etc.). This robust performance came despite the U.S. 20% reciprocal tariff taking effect on August 7, 2025, as well as the broader global slowdown driven by new U.S. tax and trade measures and heightened geopolitical tensions worldwide.
Growth momentum was supported by multiple pillars:
Manufacturing & processing industry: +10.15% YoY
Merchandise exports: +18.35% YoY
Domestic consumption: +10.44% YoY
Public investment disbursement: +31% YoY
Private sector activity: +8.2% YoY
FDI disbursement: +9% YoY
Service exports (mainly aviation, logistics, tourism): +20.2% YoY
Key supportive factors
Low interest-rate environment maintained
Strong credit growth (+13.37% YTD)
Accelerated progress of infrastructure projects and public investment disbursements
Continued positive FDI inflows
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