Vietnam GDP Q1 2025 +6.9%

According to the latest data from the National Statistics Office, Vietnam's economy expanded by 6.9 per cent in the first quarter of 2025, the highest first-quarter growth since 2020.

Growth was recorded across all main sectors: the agro-forestry-fishery sector grew by 3.7 per cent, contributing 6.1 per cent to GDP expansion; industry and construction expanded by 7.4 per cent, contributing 40.2 per cent; and services increased by 7.7 per cent, accounting for 53.7 per cent of overall growth.

Within the industry–construction sector, the added value of industry increased by 7.3 per cent compared to the same period in 2024, contributing 2.4 percentage points to Q1 growth. The processing and manufacturing subsector remained a key growth driver, rising by 9.3 per cent and contributing 2.3 percentage points. Meanwhile, construction activity grew by 7.9 per cent, adding 0.5 percentage point to the overall expansion.

During the January–March period, the service sector was fuelled by strong consumption demand during the Lunar New Year holiday and a surge in international arrivals.

The Vietnamese government is targeting GDP growth of 8 per cent for 2025.

The Association of Southeast Asian Nations (ASEAN), a political and economic union of ten members, has a population of 667 million and a territory of 4.5 million km². It is currently the third-largest economy in the Asia-Pacific region and the fifth-largest globally. The ASEAN Economic Community (AEC) has a combined GDP of USD 4.2 trillion, according to estimates for 2024.