Vietnam's third quarter GDP grew the strongest in the past 3 years
Vietnam's GDP grew 8.23% year-on-year in the third quarter of 2025. This increase accelerated from the upwardly revised 8.19% increase in the previous period, recording the fastest growth since the third quarter of 2022. Growth was broad-based and all sectors advanced further, including industry and construction (9.46% to 8.82% Q2), services (8.56% to 9.06%) and agriculture (3.74). percent to 3.95 percent). Meanwhile, despite the 20% US tariff imposed in early August, trade remained stable and exports and imports of goods increased by 18.4% and 20.2%, respectively, in the third quarter. On the spending front, final consumption increased by 7.79% year-on-year, while fixed investment increased by 8.97%. Prime Minister Pham Minh Chinh predicts exports will increase by over 12% this year, citing optimism about ongoing US trade negotiations. But the United Nations report warns that tariffs could reduce Vietnam's exports to the US by up to 20%, making Vietnam the hardest hit Southeast Asian economy. In the first 9 months of the year, the country's GDP increased by 7.85%, recording the strongest increase since 2011.
