Key points
- Exports underpin GDP, up 18pc, leading to $4.41 billion trade surplus
- Vietnam hails trade deal with US as boost for business
ISLAMABAD: Vietnam announced on Saturday that its economy grew 7.52 per cent in the first half of 2025, the highest in more than a decade.
The strong growth figure comes just days after Vietnam averted the most punishing of US President Donald Trump’s threatened “reciprocal” tariffs on its exports.
Concerns over the Southeast Asian manufacturing hub’s outlook had been growing in the run up to the trade deal announced on Wednesday, particularly as the United States is Vietnam’s biggest export market, according to Reuters.
“GDP in the first six months of 2025 increased by 7.52 per cent over the same period last year, the highest level of the first six months in the period 2011-2025,” the General Statistics Office said in a statement.
Highest Q2 reading since 2022
The country achieved growth of 7.96 per cent in the second quarter over the same period last year, the highest Q2 reading since 2022 when it hit 8.56 per cent. Hanoi has targeted full year growth of at least 8.0 per cent.
“Our country’s socio-economic performance in the second quarter and the first six months of 2025 achieved very positive results, approaching the set target in the context of many uncertainties in the world and regional economy,” the GSO statement said.
Trade deal with US
Vietnam’s trade deal with the United States announced this week has negotiated levies down from 46 per cent to a minimum 20 per cent in return for opening its market to US products.
Vietnam has the third-biggest trade surplus with the United States of any country after China and Mexico, and was targeted with one of the highest rates in the US president’s tariff blitz.
