Vietnam Economic Times November 10, 2025

Dear readers,

The global economic and political situation, especially military conflicts and geopolitical tensions, has remained unpredictable since the very start of 2025. Interest rates have been anchored at high levels globally, consumer demand in many major economies has eased, and trade protectionism continues to become more common, not to mention catastrophic natural disasters hitting in many regions, including Vietnam. Despite this, Vietnam’s economy maintained stable growth in October and the first ten months of the year, creating a solid foundation for reaching the goal of growth in excess of 8 per cent for the final year of implementing the Resolution from the 13th National Party Congress.

A highlight in the ten-month period was trade turnover of goods posting a record $762.44 billion, an increase of 17.4 per cent compared to the same period of 2024. Of this, exports stood at $391 billion, an increase of 16.2 per cent, while imports reached $371.44 billion, up 18.6 per cent. Vietnam therefore recorded a trade surplus of a solid $19.56 billion, which while positive was lower than the $24.80 billion in the same period of 2023 and the $23.18 billion in 2024.

Elsewhere, core inflation was controlled at below 3.27 per cent in the period and was lower than the target ceiling. Total State budget revenue exceeded 9.1 per cent of the annual estimate, while disbursed public investment hit its highest level in this ten-month period for many years. Also recording positive performance was total registered FDI, disbursed FDI, the Index of Industrial Production (IIP), total retail sales of goods and consumer service revenue, and the tourism sector.

However, behind these optimistic economic indicators, Vietnam’s economic picture in the first ten months still saw some cloudy skies. For instance, economic recovery failed to boost all regions, while healthy double-digit credit growth since last December and year-on-year primarily went into trade, services, and real estate, with manufacturing and processing, support industries, and innovation remaining short of medium and long-term capital. Gold and real estate prices, meanwhile, both increased by abnormal levels during the period.

The biggest highlight of Vietnam’s economy in the first ten months was it retaining its stability amid uncertainty, maintaining major balances, and controlling inflation. The significant achievements lay an important platform for fulfilling the 2025 socio-economic development plan as well as the 5-year plan for 2021-2025, while setting Vietnam up to transition to a new growth cycle, according to the new orientation to be outlined by the upcoming 14th National Party Congress.

To provide readers with the most up-to-date information on the country’s socio-economic picture this year, our Cover Story in this edition focuses on the economic highlights of October and the first ten months of 2025.

Warmest regards

Dr. CHU VAN LAM
CHAIRMAN OF THE EDITORIAL BOARD