The Singapore-based United Overseas Bank (UOB) has revised its forecast  for Vietnam’s GDP growth upward to 6.9% for 2025 from its previous projection of 6%, following the country's strong economic performance in the second quarter.

According to a report released by UOB's Global Economics & Market Research Unit on July 7, Vietnam’s real GDP grew by a robust 7.96% year-on-year in the second quarter of 2025, well ahead of Bloomberg’s forecast of 6.85%.

In the first half of 2025, Vietnam’s GDP grew by 7.52% year-on-year, the strongest performance in the first half since 2011.

Vietnam’s outsized performance in the first half was largely driven by businesses accelerating export orders during the 90-day window in which the US temporarily suspended reciprocal tariffs, opting instead for a basic 10% tariff rate.

The country’s export turnover in the first half rose 14.4% year-on-year to $219 billion, while imports rose 17.9% to $212 billion.

The latest development on the trade negotiations with the US appears promising for Vietnam.

Accordingly, the bank also projected Vietnam’s growth for the third quarter and the fourth quarter of 2025 at around 6.4%.

FDI inflows should reach around $20 billion this year, the report says.