Vietnam's Economy in 2025: GDP, FDI, and Trade

Vietnam’s economy demonstrated a robust performance in 2025, achieving 8 percent GDP growth, maintaining resilient FDI, keeping inflation stable, and expanding trade. 

Vietnam’s GDP growth performance

Vietnam’s General Statistics Office (GSO) estimates that the country’s GDP grew by 8.02 percent in 2025, despite the negative effects of a tough global market and multiple natural disasters.

The GDP in 2025 is projected to be nearly VND12.85 quadrillion (about US$514 billion), reflecting an increase of roughly US$38 billion from 2024. Vietnam’s GDP per capita has risen to VND125.5 million (about US$5,026), up US$326 from 2024.

Positive growth across all three main sectors contributed to Vietnam’s robust GDP growth in 2025. The industry and construction sector is the fastest growing, with an 8.95 percent rise, while the service sector remains the main driver of overall growth, accounting for 51.08 percent.

Inflation

According to the General Statistics Office (GSO), Vietnam’s consumer price index (CPI) increased by 3.31 percent in 2025, meeting the inflation control target set by the National Assembly. Price pressures were driven primarily by housing-related costs, food services, healthcare, and education.

Meanwhile, core inflation increased 3.27 percent year-on-year in December and averaged 3.21 percent in 2025, remaining below headline CPI growth. This reflects the exclusion of volatile items such as food, energy, healthcare, and education services from the core inflation basket.

Credit growth

Bank credit in Vietnam has continued to increase this year, maintaining a steady upward trend. According to the State Bank of Vietnam (SBV), credit growth in Vietnam reached nearly 18 percent in 2025.

As of December 24, 2025, total outstanding credit to the economy exceeded VND 18.4 quadrillion (US$ 670 billion), up 17.87 percent compared to the end of 2024. According to Dragon Capital, Vietnam’s monetary policy in 2025 has remained accommodative yet disciplined. The fund management group notes that the SBV has successfully maintained system liquidity to support infrastructure development and private investment, while carefully calibrating policy to balance interest rate conditions with exchange rate stability.

Foreign direct investment

Foreign direct investment (FDI) inflows into Vietnam remained resilient in 2025, with newly registered capital exceeding US$38.4 billion, up 0.5 percent year on year, according to the GSO. The figures were released at the press conference announcing Vietnam’s socio-economic performance for the fourth quarter and full year 2025.

Disbursed FDI was estimated at US$27.6 billion, a 9 percent increase from 2024 and the highest level in the past five years, underscoring sustained investor confidence despite global uncertainties.

New and adjusted investment trends

During 2025, Vietnam licensed 4,054 new FDI projects with a total registered capital of US$17.3 billion. While the number of newly approved projects rose sharply by 20.1 percent year on year, registered capital declined by 12.2 percent, reflecting a trend toward smaller-sized projects.

Vietnam’s FDI distribution by sector in 2025 is as follows:

• Manufacturing and processing continued to attract the largest share of new FDI, receiving US$9.8 billion, or 56.5 percent of newly registered capital.
• Real estate followed with nearly US$3.7 billion, accounting for 21.2 percent.
• Other sectors together attracted US$3.85 billion, or 22.2 percent.

In addition, 1,404 existing projects were approved for capital adjustments, adding US$14.1 billion, up 0.8 percent year on year. Combined newly registered and adjusted capital in manufacturing and processing reached US$18.6 billion, equivalent to 59.2 percent of the total, reaffirming the sector’s central role in Vietnam’s FDI landscape.

Capital contributions and investor origins

Foreign investors also remained active through capital contributions and share purchases. In 2025, Vietnam recorded 3,587 such transactions with a total value exceeding US$7 billion, up 54.8 percent from the previous year. Manufacturing and processing led these transactions, followed by professional, scientific, and technological activities.

Among 90 countries and territories investing in newly licensed projects, Singapore emerged as the largest investor, followed by China, Hong Kong (China), Japan, and Sweden, highlighting the continued dominance of Asian investors alongside growing European participation.

Trade performance

Vietnam’s total trade value exceeded US$930 billion in 2025, marking an 18.2 percent year-on-year increase, according to the GSO. The country recorded a trade surplus of approximately US$20 billion, reflecting strong export momentum alongside rising import demand.

The GSO observed a continued gap between the domestic and foreign-invested sectors, specifically:

• The domestic sector recorded a trade deficit of US$29.4 billion.
• The foreign-invested sector, including crude oil, posted a surplus of nearly US$49.5 billion, highlighting its dominant role in Vietnam’s external trade.

Export trends

Exports reached US$475 billion in 2025, up 17 percent year on year. In December alone, exports rose to US$44 billion, increasing 12.6 percent month on month, supported by both domestic and foreign-invested enterprises.

Vietnam’s export structure in 2025 by enterprise type:

• Foreign-invested enterprises (FIEs) accounted for 77.3 percent of total exports, with shipments valued at US$367.1 billion, up 26.1 percent year on year.
• Domestic enterprises exported US$108 billion, down 6.1 percent, representing 22.7 percent of total export turnover.

Vietnam’s export structure in 2025 by sector:

• Processed industrial products remained the backbone of export growth, generating US$421.5 billion, or 88.7 percent of total exports.
• Agricultural and forestry products contributed US$39.5 billion.
• Seafood exports reached US$11.3 billion.
• Fuels and minerals accounted for US$2.8 billion.

Import dynamics

Imports expanded at a faster pace than exports in 2025, rising 19.4 percent year on year to US$455 billion, reflecting strong demand from export-oriented manufacturing and infrastructure development.

By enterprise type:

• Foreign-invested enterprises (FIEs) drove import growth, with import turnover increasing 31.9 percent to US$317.6 billion.
• Domestic enterprises imported US$137.4 billion, down 2 percent year on year.

By import composition:

• Production inputs dominated the import structure, accounting for 93.6 percent of total imports.
• Machinery, equipment, and spare parts represented 52.7 percent of total imports.
• Raw materials and fuels accounted for 40.9 percent.
• Consumer goods imports remained limited at US$28.9 billion, or 6.4 percent of total imports.

Major trade partners and balances

Vietnam’s trade balance in 2025 continued to reflect strong export performance alongside structural import dependence:

• United States: Vietnam’s largest export market, with export turnover of US$153.2 billion and a trade surplus of US$134 billion.
• European Union: A key surplus market, with Vietnam recording a trade surplus of US$38.6 billion.
• China: Vietnam’s largest source of imports, with import turnover of US$186 billion and a widening trade deficit of US$115.6 billion.
• South Korea: Trade deficit expanded to US$31.6 billion, reflecting continued reliance on Korean inputs and components.
• ASEAN: Trade deficit widened to US$14.2 billion, highlighting persistent intra-regional import dependence.

Takeaway

Vietnam’s 2025 performance highlights robust growth driven by stable macroeconomic policies. Strong GDP growth, controlled inflation, increasing credit, and record FDI inflows indicate ongoing investor confidence, especially in manufacturing and export-focused sectors.

While trade remains a primary growth driver, expanding deficits with regional suppliers emphasize the need to strengthen domestic supply chains as Vietnam further integrates into global value networks.

This article was first published November 11, 2025, and was last updated January 22, 2026.