<figure id="attachment_3065968" aria-describedby="caption-attachment-3065968" style="width: 1600px" class="wp-caption alignnone"><img loading="lazy" class="size-full wp-image-3065968" src="https://media.freemalaysiatoday.com/wp-content/uploads/2025/05/d72951a8-us-and-vietnam-national-flag-2015.webp" alt="" width="1600" height="1000" /><figcaption id="caption-attachment-3065968" class="wp-caption-text">Vietnam in July secured a minimum 20% tariff with the US, down from more than 40%. (AFP pic)</figcaption></figure>
HANOI: Vietnam said on Monday its economy grew 8% last year, thanks to gains in services, construction and exports and despite fresh US tariffs taking effect.
&#8220;GDP in 2025 is projected to grow significantly at an estimated rate of 8.02 percent compared to the previous year,&#8221; the General Statistics Office (GSO) said in a statement.
Vietnam has long been a success story among Asian economies.
Its economy expanded last year despite new trade levies from the US, its largest export market, on a range of products including clothing and shoes.
The global manufacturing hub earned about US$475 billion from exports last year, up 17% year-on-year, and spent US$455 billion on imports, up 19% from 2024, according to the GSO.
China was its largest source of imports, the office said.
Vietnam in July secured a minimum 20% tariff with the US, down from more than 40%, in return for opening its market to US products including cars.
&#8220;Despite potential downside risks from tariffs imposed by the US, Vietnam has shown resilience through strong domestic consumption, business investment growth and government spending,&#8221; said Chad Ovel, a partner at private equity firm Mekong Capital.
Its 2025 growth &#8220;reflects the continued strong fundamentals of the Vietnamese economy and the government&#8217;s pro-private sector direction&#8221;, Ovel told AFP on Monday.
The economy grew just over 5% in 2023 and topped 7% in 2024.

MatchPoint Times

Vietnam’s economy grew 8% in 2025 despite US tariffs

The global manufacturing hub earned about US$475 billion from exports last year, up 17% year-on-year.

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