Vietnam GDP grows 7.52% in H1, 15-year record high

Vietnam's economic growth rate reached 7.52% in the first six months of the year, a record high in the period 2011-2025, the General Statistics Office reported on Saturday.

The figures for H1 in 2021, 2022, 2023, and 2024 were 5.71%, 7.01%, 3.91%, and 6.64%, respectively.

The service sector grew by 8.14%, accounting for 52.21% of the economic expansion, while the industry and construction sector increased by 8.33%, contributing 42.2%.

The tallies for the agriculture, forestry and fishery sector were respective 3.84% and 5.59%.

The economic expansion in Q2 was 7.96%, the second highest in the 2020-2025 period as it was only lower than the 8.56% recorded in Q2/2022.

Vietnam's trade surplus was $7.63 billion in H1, lower than the same period last year ($12.15 billion).

Total trade turnover was $432 billion, up 16.1% year-on-year, of which exports and imports rose by 14.4% and 17.9% respectively.

Total revenue from retail sales of goods and consumer services at current prices in H1 was estimated at nearly VND3,417 trillion ($130.52 billion), up 9.3% year-on-year

In Jan-June, 152,700 enterprises were established or returned to the market, an average of 25,500 units per month. Meanwhile, about 114,800 enterprises temporarily suspended business or withdrew from the market, a monthly average of 21,200 units.

The results of a GSO survey in Q2 on processing and manufacturing industry trends showed that the number of "optimistic" companies accounted for 35.7%. The number of firms assessing that business trends would be better in Q3 increased to 43%.

On average, in the first 6 months, the CPI increased by 3.27% compared to the same period last year, with core inflation hitting 3.16%.

The average CPI in Q2 rose by 3.31% compared to the same period last year.

Registered foreign direct investment (FDI) in Vietnam hit over $21.51 billion in H1, up 32.6% and a record high since 2009, while disbursed capital reached $11.72 billion, up 8.1%, according to the the Foreign Investment Agency (FIA).

At the FIA's calculations, registered capital comprises capital for newly-registered projects, additional capital for existing projects, and capital for stake acquisitions.

Of the total registered capital, nearly $9.3 billion (down 9.6% year-on-year) was newly-registered capital for 1,988 projects. About $8.95 billion, a 2.2-fold increase compared to the same period last year, was additional capital for 826 existing projects. Capital contributions/stake acquisitions reached $3.28 billion, up 73.6%.

Nguyen Thi Huong, director of the GSO, stated that the results in Q2 and H1 were "very positive", with GDP growth rate in H1 being "the highest in Southeasi Asia".

"The statistics approached the government's set targets in the context of many uncertainties in the world and regional economies," Huong told a press meeting on Satuday.

"However, the economy is forecast to continue facing many difficulties and challenges in H2. Therefore, achieving the growth target of over 8% in 2025 is a big challenge," she added.

The Vietnamese Government is persistent with its 8% growth goal though disadvantages outweigh advantages, with a focus on solutions to respond to U.S. reciprocal tariffs, PM Pham Minh Chinh told a cabinet meeting on May 6.

Party chief To Lam and President Donald Trump on Wednesday stated that they welcome the agreement reached by the negotiating teams on the Joint Vietnam-United States Statement on a Fair, Balanced, and Reciprocal Trade Agreement Framework.

Lam and Trump held a telephone conversation at 8 p.m (Vietnam time) on the same day to discuss bilateral relations and negotiations on reciprocal tariffs.

On Truth Social, President Trump wrote that Vietnam will pay a 20% tariff on any and all goods sent into the United States, and a 40% tariff on any transshipping.

This is down significantly from the 46% in the original reciprocal tariff plan announced on April 2, 2025.

In return, U.S. products into Vietnam will enjoy zero tariff.