Vietnam: Q2 GDP Growth Strongest in Near 3 Years.

Vietnam’s GDP expanded 7.96% yoy in Q2 2025, accelerating from a 6.93% rise in Q1 and marking the fastest pace since Q3 2022, according to flash estimates. The latest result reflected solid progress toward Hanoi’s FY growth target of at least 8%. All sectors posted stronger increases, including services (8.46% vs 7.70% in Q1), industry and construction (8.97% vs 7.42%), and agriculture (3.89% vs 3.74%). Meantime, trade remained resilient despite global headwinds and rising U.S. tariffs, with exports and imports up by 18% and 18.8% yoy, respectively. The U.S. was Vietnam's largest export market, while China continued to be its top import partner. Washington and Hanoi have reached a trade deal under which Vietnamese goods will face a 20% tariff, with trans-shipments from third countries through Vietnam will be subject to a 40% levy. In return, Vietnam can import U.S. products tariff-free. During H1, Vietnam's economy grew 7.52%, marking the highest H1 growth rate between 2011 and 2025.