Vietnam's economy expanded 9.95% in the third quarter, its fastest pace in four years, driven by strong growth in industry and construction. This acceleration from the previous quarter's revised 8.81% figure brings the year-to-date GDP growth to 7.85%.
Vietnam's strong GDP growth indicates economic resilience, but achieving its full-year target hinges on significant expansion in the final quarter, while trade remains vulnerable to geopolitical factors like U.S. tariffs.
Vietnam's economy grew 9.95% in the third quarter, its fastest pace in four years, marking an acceleration from a revised 8.81% figure for April-June. The growth was supported by strong expansion in industry and construction, according to the country's statistics office.
According to Trading Economics, Vietnam’s GDP expanded 8.23% year-on-year in Q3 2025, quickening from an upwardly revised 8.19% rise in the previous period. Growth was broad-based, with industry and construction advancing 9.46%, services 8.56%, and agriculture 3.74%.
Trade remained resilient despite a 20% U.S. tariff imposed in early August, with Q3 goods exports and imports each surging 18.4% and 20.2% respectively. Final consumption gained 7.79% year-on-year, while fixed investment rose 8.97%.
Prime Minister Pham Minh Chinh projected exports to climb over 12% this year, citing optimism around ongoing U.S. trade negotiations. However, a UN report warned the tariffs could slash up to 20% of Vietnam’s U.S.-bound exports. For the first nine months of the year, the country's GDP grew by 7.85%, the strongest performance since 2011.
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