Việtnam will be among the top 15 economies in Asia, with projected economic output reaching some US$506 billion in 2025, the statistical visualisation platform Seasia Stats reported.

 According to the Vietnam News newspaper, Seasia Stats highlighted Việtnam’s rapid development driven by explosive manufacturing growth and foreign investment.

While China remains the continent’s largest economy, followed by Japan and India, Việtnam has distinguished itself as a rising economic force in Southeast Asia. The country, positioned 12th in the regional ranking, is projected to achieve 7 percent economic growth in 2024, a remarkable rate that makes it among the fastest-growing economies in the region and the world.

Indonesia, according to Vietnam  News, leads the Southeast Asian region with an anticipated economic size of $1.5 trillion in 2025, buoyed by rich natural resources and a rapidly expanding middle class.

Singapore, at the ninth place, has been renowned for its financial services sector and strategic geographical position. The country’s economic output is projected in 2025

Thailand and the Philippines came next, with projected economic sizes of $545 billion and $508 billion, respectively. These nations benefit from diverse economic drivers, including tourism, manufacturing and a dynamic young workforce.

Other regional peers in the top 15, standing behind Việtnam, are Malaysia, Bangladesh and Iran. 

According to the VnExpress newspaper, Vietnam’s imports and exports totaled US$745 billion, up 15.3 percent from a year earlier, according to the General Department of Vietnam Customs.

As of Dec. 14, exports amounted to $384 billion, a nearly 14.5 percent year-on-year increase, while imports rose by 16.3 percent to nearly $361 billion.

Agri-products like durian, fruits, vegetabls, shrimp and coffee have contributed to exports with high prices. China is the largest importer of agri-products from Vietnam. Manufacturing has also contributed a lot to Vietnam’s exports.

Vietnam has achieved remarkable trade performance in 2024, recording a 16 percent year-on-year increase in trade turnover for the first 10 months, reaching $647.87 billion, according to the General Department of Customs. Export activities contributed nearly $335.59 billion, rising 15 percent, while imports surged by 17 percent to reach $312.28 billion. 

In October alone, import-export revenue climbed to $69.19 billion, a 5 percent increase year-on-year, demonstrating sustained momentum. The Ministry of Industry and Trade (MoIT) plays an active role in expanding market access for Vietnamese products and supporting businesses in navigating international trade. MoIT’s efforts in facilitating border trade include implementing promotion programs and alerting businesses to potential trade defense cases. This proactive approach has shielded Vietnamese goods from unnecessary export risks.

Trade surplus stood at $23.4 billion, down from $25.71 billion during the same period last year.

Le Nhu Quynh, director of the Import-Export Tax Department, reported that by Dec. 10, state revenue from import-export activities reached VND397.86 trillion ($15.6 billion), surpassing the annual target by 6.1 percent and up 13.8 percent from the same period last year.

The figure is expected to hit VND420 trillion for the year, equal to 112 percent of the target and a 13.9 percent increase from 2023.

Import-export turnover and taxable trade values saw respective increases of 15.4 percent and 15.3 percent. A notable rise in imports of high-revenue goods significantly boosted overall tax collection.

For 2025, the National Assembly has set a state budget revenue target of VND411 trillion, based on projected GDP growth of 6.5–7 percent and crude oil prices of $75-80 per barrel.

According to the Vietnam News newspaper, Prime Minister Phạm Minh Chính has issued Official Dispatch No 137/CĐ-TTg to achieve a gross domestic product (GDP) expansion rate of 8 percent or higher.

Stressing that 2025 is a milestone year for Việtnam to embark on a new era of development – the era of the nation’s rise, the PM asked for drastic efforts by relevant ministries, agencies, provinces and cities to promote socio-economic development.

The focus will be on strengthening economic growth in line with stabilising the macroeconomy, controlling inflation, ensuring major balances to achieve a GDP growth rate of more than 8 percent in 2025, higher than the National Assembly’s target at 6.5-7 percent.

Specifically, Hà Nội and Ho Chi Minh City must strive to achieve a growth rate of around 8-10 percent.

The PM also asked for efforts to renew traditional growth drivers, including investment, consumption and exports.

With regard to investment, the PM asked the disbursement and efficient of public investment to be increased. The Minister of Planning and Investment will be in charge to develop mechanism to attract foreign investment, focusing on large-scale and high – technology projects.

A sandbox for circular economy will be submitted to the Government in the first quarter of next year. Việtnam will also issue green taxonomy to promote green transition.

Another important focus is to strengthen the development of the strategic infrastructure system including high-speed railway, urban railway in Hà Nội and Ho Chi Minh City, railways connected with China and Long Thành International Airport.

Efforts are also needed to speed up the resumption of nuclear power plants, the construction of international financial centres in Ho Chi Minh City and Đà Nẵng and the foundation of free trade zones in several localities.

Vietnam’s economy is booming with foreign investments, high economic growth, tourism, manufacturing, increase in prices of agri-products.