NextFin news, HANOI — Vietnam's economy grew at an annual rate of 8.22% in the third quarter of 2025, the government announced on Sunday, October 5, marking the highest quarterly growth since 2011, excluding the post-pandemic surge in 2022.
The growth acceleration occurred despite the introduction of a 20% tariff on most Vietnamese goods imported into the United States, which took effect on August 7, 2025, midway through the quarter. This tariff was imposed by the Trump administration as part of trade measures targeting Vietnam's exports.
Finance Minister Nguyen Van Thang highlighted the resilience of the economy, stating that the 8.22% growth rate surpassed the 7.96% expansion recorded in the second quarter of 2025. The government’s statement emphasized that this robust growth was achieved despite significant external pressures.
Severe weather disruptions also marked the third quarter, with eight storms, including Typhoon Bualoi, impacting the country. The typhoon alone caused estimated damages of 16.5 trillion Vietnamese dong (approximately US$625.5 million or RM2.6 billion).
Over the first nine months of 2025, Vietnam's gross domestic product (GDP) grew by 7.84% compared to the same period in 2024. The government has set a target GDP growth range of 8.3% to 8.5% for the full year, which would exceed last year's 7.09% growth and surpass forecasts by the World Bank (6.6%) and the International Monetary Fund (6.5%).
Consumer prices rose by 3.27% year-on-year from January to September 2025, with inflation in September recorded at 3.38%. The National Statistics Office is expected to release comprehensive economic data, including trade figures, on Monday, October 6, 2025.
Prime Minister Pham Minh Chinh noted last month that Vietnam anticipates export growth exceeding 12% for the year, despite concerns that US tariffs could reduce exports to the US by up to 20%, making Vietnam the hardest-hit Southeast Asian country in this regard.
The government and the Ministry of Trade have indicated ongoing efforts to continue trade negotiations with the United States to mitigate tariff impacts.
Vietnam’s economic growth in 2025 faces challenges from external economic pressures, slow-moving reforms, and escalating natural disasters, which are expected to intensify in the final months of the year, according to the government statement.
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