Hanoi (VNA) – Strong economic momentum in the fourth quarter of 2025 provided a significant boost to Vietnam’s overall growth performance in 2025, with gross domestic product (GDP) estimated to expand by 8.02% for the year, according to the National Statistics Office (NSO).
The growth rate ranked second only to the record high in 2022 over the 2011–2025 period, reflecting the economy’s robust recovery and resilience amid global uncertainty.
At a press conference on January 5 to announce socio-economic data for the fourth quarter and the whole of 2025, the NSO reported that GDP in the final quarter grew by an estimated 8.46% year on year, marking the highest Q4 growth rate in the past 15 years.
Industry, services drive growth
NSO Director Nguyen Thi Huong said Vietnam concluded 2025 strong, with the fourth-quarter acceleration playing a decisive role in lifting annual growth. The outcome, she noted, not only underscored the economy’s recovery capacity but also reflected the effectiveness of the Government’s flexible and decisive management in a volatile global environment.
She highlighted a clear upward trajectory in quarterly growth throughout the year, with GDP expanding by 7.05% in the first quarter, 8.16% in the second, 8.25% in the third, and peaking at 8.46% in the fourth.
According to Huong, this result was achieved through the coordinated implementation of tasks and solutions despite persistent external uncertainty.
The main engine of growth was the industrial and construction sector, recording a 9.73% increase in the fourth quarter and contributing nearly 46% to the overall value-added growth of the economy. Notably, the processing and manufacturing industry posted a 9.97% growth rate for the year, the highest level recorded during 2019–2025, reaffirming its position as the primary driver of economic expansion.
Alongside industry, the services sector also posted strong growth of 8.62% in 2025, second only to the peak recorded in 2022 over the past 15 years. Major market-oriented service industries made substantial contributions, including wholesale and retail trade, which grew by 8.52%, and transportation and warehousing, which expanded by 10.99%. Tourism continued its strong recovery, with international arrivals reaching an all-time high.
Despite challenges posed by natural disasters and extreme weather events during the year, the agriculture, forestry and fisheries sector maintained stable growth of 3.78%, maintaining its position as a solid buffer for the overall economy.
Expanding economic scale, improving quality
In the global context, 2025 was marked by geopolitical tensions and trade friction, while international organisations such as the International Monetary Fund (IMF), the World Bank and the Organisation for Economic Co-operation and Development (OECD) projected slower global growth compared to 2024. Against this backdrop, Vietnam effectively leveraged opportunities arising from increased investment in artificial intelligence and improved global financial conditions, emerging as one of the fastest-growing economies in Southeast Asia.
Huong noted that 2025 also held particular domestic significance, marked by major reforms in organisational restructuring and notable progress in legislative work. Nationwide activities commemorating the 80th anniversary of the August Revolution and the 50th anniversary of national reunification helped generate strong social momentum, reinforcing public confidence and resilience.
The strong growth performance translated into a substantial expansion of the economy’s overall scale. 2015 GDP at current prices was estimated at 12.85 quadrillion VND (514 billion USD), an increase of around 38 billion USD compared to 2024. GDP per capita rose to 5,026 USD, up 326 USD year on year.
Growth quality also showed marked improvement. Labour productivity across the economy was estimated at 245 million VND per worker, representing a 6.83% increase at constant prices. The proportion of trained workers holding degrees or certificates reached 29.2%, indicating steady progress in human resource development in line with integration and modernisation requirements.
According to the NSO, the comprehensive results achieved in 2025 enabled Vietnam to fulfil the targets set under the 2021–2025 five-year socio-economic development plan, while laying a solid foundation for continued growth in the years ahead./.
