Press release social-economic situation in the fourth quarter and 2025

INTERNATIONAL AND NATIONAL ECONOMIC CONTEXT

The global socio-economic situation experienced a turbulent year with increased instability and uncertainty, as ongoing armed conflicts and fighting in numerous trouble spots fueling by strategic competition between major powers and nationalism threatened regional and global peace and security. Simultaneously, the escalating trade war, severe natural disasters, and climate change posed increasing challenges to energy and food security. However, the actual US tariff policy was lower than initially announced; inflation continued its downward trend in many countries; easy macroeconomic policies boosted growth; and financial conditions improved due to optimism about the potential impact of new technologies, massive investment in artificial intelligence (AI) was witnessed, these factors have become a new trend and a crucial driver for enhancing the competitiveness and productivity of nations all over the world.

Almost all international organizations upgraded their forecasts for the global economic growth in 2025 compared to the previously published data, due to implementing easy monetary policies and increasing public spending to support growth in many major economies. The International Monetary Fund (IMF)[1] and the European Union (EU)[2] forecasted global economic growth in 2025 at 3.2% and 3.1% respectively, both upward revisions of 0.2 percentage points; the Fitch Ratings (FR)[3] forecasted the 2025 global growth at 2.5%, an upward revision of 0.1 percentage point. The Organization for Economic Cooperation and Development (OECD)[4] maintained its forecast of 3.2%, the same as in September 2025. However, the global economic growth forecasts for 2025 from international organizations were all lower than those for 2024.

International organizations provided varying assessments of 2025 economic growth in Southeast Asian countries, but all agreed that Viet Nam’s growth was the highest in the sub region. Accordingly, Viet Nam’s growth in 2025 was forecasted to be between 6.2-7.4%[5]; followed by the Philippines 4.7-5.4%; Indonesia 4.8-5.0%; Malaysia 4.1-5.0%; Singapore 2.2-4.1%; and Thailand around 2.0%.

Domestically, 2025 was a particularly important year, marking the final year of the 2021-2025 Socio-economic development plan, the year of implementing a revolution in the organization of the government apparatus, rearranging administrative units at all levels and building a two-tiered local government system; legislative activities made its mark with 89 Laws and 91 Resolutions passed by the National Assembly in three sessions, some resolutions quickly put into practice such as the Resolution on the development of science and technology, national innovation and digital transformation, international integration, and the development of the private economy, etc. Many activities commemorating major holidays throughout the year such as the commemoration ceremony, parade, and march of the 80^th anniversary of the August Revolution and the National Day September 2, the 50^th anniversary of the Liberation of the South and National Reunification awakened national pride and created great motivation for the people nationwide to strive and achieve socio-economic development goals. The year 2025 was also a year in which our economy faced many difficulties and challenges: heavy rains and storms causing serious flooding, flash floods, and landslides in various localities affected production, business activities, and people’s lives. In this context, under the leadership of the Party, the flexible, decisive, timely, and effective direction of the Government and the Prime Minister, ministries, agencies, and localities closely monitored the fluctuations of the global and domestic economic situation, and made concerted efforts to implement tasks and solutions. As a result, Viet Nam economy achieved comprehensive results in many sectors and fields, with macroeconomic stability and inflation under control. The results achieved by various sectors and fields in the fourth quarter and in 2025 were as follows:

I. ECONOMIC GROWTH

1. Gross domestic product growth rate (GDP)

Gross Domestic Product (GDP) in the fourth quarter of 2025 was estimated to increase by 8.46% year-on-year, reaching the highest growth rate for the fourth quarter in the period 2011-2025[6], maintaining the trend of each subsequent quarter growing faster than the previous one (the growth rates in 2025-Q1, 2025-Q2, and 2025-Q3 reached 7.05%, 8.16%, and 8.25%, respectively). Of which, the agriculture, forestry, and fishing sector increased by 3.70%, contributing 5.13% to the total value-added growth of the entire economy; the industry and construction sector increased by 9.73%, contributing 45.80%; and the services sector increased by 8.82%, contributing 49.07%. Regarding GDP expenditure in the fourth quarter of 2025, final consumption increased by 7.15% year-on-year; capital formation increased by 8.92%; exports of goods and services increased by 19.34%; imports of goods and services increased by 19.40%.

GDP growth in 2025 was significant, reaching an estimated increase of 8.02% year-on-year, only slightly lower than the growth rate in 2022 during the 2011-2025[7] period. Within the total value-added growth of the entire economy, the agriculture, forestry, and fishing sector increased by 3.78%, contributing 5.30%; the industry and construction sector increased by 8.95%, contributing 43.62%; and the services sector increased by 8.62%, contributing 51.08%.

In the agriculture, forestry, and fishing sector, despite adverse impacts from storms and floods, timely implementation of response and recovery measures ensured stable agricultural, forestry, and fishing production. The value added of the agricultural activities in 2025 was estimated to increase by 3.48% year-on-year, contributing 3.59% to the total value added of the entire economy; the forestry activities increased by 5.70%, contributing only 0.38% due to its small proportion in the entire economy; and the fishing activities increased by 4.41%, contributing 1.33%.

In the industrial and construction sector, the industry achieved its highest growth rate since 2019[8]. The value added of the industrial activities in 2025 was estimated to increase by 8.80% year-on-year, contributing 35.15% to the total value added of the entire economy. Of which, the manufacturing grew by 9.97%, the highest growth rate in the period 2019-2025[9], continuing to be the driving force for growth, and contributing 31.49%. The water supply, sewerage, waste management and remediation activities expanded by 7.82%, contributing 0.60%. The electricity supply increased by 6.39%, contributing 2.94%. The mining and quarrying spread by 0.42%, contributing 0.13%. The construction intensified by 9.62%, contributing 8.47%.

Trade and tourism activities witnessed enormous increase, the number of international visitors to Viet Nam in 2025 reached its highest level ever, contributing positively to the growth of the service sector. The value added of the service sector in 2025 was estimated to increase by 8.62%, only slightly lower than the growth rate of 2022 in the period 2011-2025[10]. The contributions of a number of market service activities with large proportions to the economy value added growth were as follows: the wholesale and retail trade increased by 8.52% year-on-year, contributing 10.62%; the transportation and storage increased by 10.99%, contributing 8.69%; the financial, banking and insurance activities increased by 7.82%, contributing 5.72%; and the accommodation and food service increased by 10.02%, contributing 3.34%.

Regarding the economic structure in 2025, the agriculture, forestry, and fishing sector accounted for 11.64%; the industry and construction sector made up 37.65%; the service sector represented 42.75%; and the taxes less subsidies on products comprised 7.96% (The corresponding structure in 2024 was 12.03%; 37.52%; 42.35%; 8.10%).

Regarding GDP expenditure in 2025, final consumption increased by 7.95% year-on-year; capital formation increased by 8.68%; exports of goods and services increased by 16.27%; and imports of goods and services increased by 17.12%.

GDP size at current prices in 2025 was estimated to reach 12,847.6 trillion VND, equivalent to 514 billion USD[11], an increase of 38 billion USD compared to 2024 (476 billion USD). GDP per capita in 2025 at current prices was estimated to reach 125.5 million VND /person, equivalent to 5,026 USD, an increase of 326 USD compared to 2024 (4,700 USD).

Labor productivity for the entire economy at current prices in 2025 was estimated at 245.0 million VND per worker (equivalent to 9,809 USD per worker, an increase of 626 USD year-on-year); at constant prices, labor productivity increased by 6.83%; the qualifications of workers improved (the percentage of trained workers with degrees and certificates in 2025 was estimated at 29.2%, 0.8 percentage points higher than that in 2024), economic growth was significant, and the size of the economy expanded.

2. In 2025, agricultural, forestry, and fishing production was affected by storms and floods, mainly in the North Central and Central provinces, and the outbreak of African swine fever in the third quarter of 2025. However, thanks to proactive prevention, response, and timely support of all-level authorities, agencies, and localities, agricultural, forestry, and fishing production gained positive results. Rice production reached 43.54 million tons, the highest in the last four years. Gross output of perennial crops showed a year-on-year upturn of 5.54% due to high fruits production and positive recovery of perennial industrial crops. Poultry farming witnessed an increase of 5.9% owing to the expansion of integrated farming models with the value chain. Afforestation and wood harvest were implemented as plan, ensuring the supply for wood exports. Aquaculture production in 2025 rose by 5.1%, satisfying domestic consumption and export demands. Exceptionally, marine capture fisheries showed a year-on-year downtrend of 0.1% due to unfavorable weather conditions.

a) Agriculture

In 2025, the nationwide rice area was estimated at 7.13 million hectares, a year-on-year[12] decline of 1,100 hectares, the yield was estimated at 61.1 quintals/hectare, showing a year-on-year upturn of 0.1 quintals/hectare; the production was estimated at 43.5 million tons, a growth of 88.6 thousand tons. Cereals production in 2025 was estimated at 47.9 million tons, showing a year on-year growth of 96.4 thousand tons, of which maize production reached 4.4 million tons, rising by 7.8 thousand tons.

Winter-spring rice in 2025, the nationwide winter-spring rice reached nearly 3.0 million hectares, showing a year-on-year expansion of 15.7 thousand hectares due to the expansion of area in some localities with favorable water supply and crop structure conversion in the Mekong River Delta^[13]; the rice yield reached 68.6 quintals/hectare, a year-on-year fall of 0.2 quintals/hectare; the production reached 20.4 million tons, showing an upturn of 32.1 thousand tons.

Summer-autumn rice: The summer-autumn rice this year was severely affected by spells of heavy rains, storms, and floods, especially in the North Central, South Central Coastal, and Central Highlands. The nationwide planted area of summer-autumn rice reached 1.9 million hectares, a year-on-year slump of 10,800 hectares; the yield was estimated at 57.4 quintals/hectare, a decline of 1.0 quintal/hectare; the production reached 10.9 million tons, showing a downturn of 269,100 tons.

Autumn-winter rice: The Mekong River Delta and Tay Ninh province sow 716.6 thousand hectares of autumn-winter rice, a year-on-year reduction of 1.3 thousand hectares. However, thanks to stable production conditions and the application of advanced technique, the yield was estimated at 58.7 quintals/hectare, showing a year-on-year rise of 0.3 quintals/hectare; the production was estimated at 4.21 million tons, showing a growth of 12.5 thousand tons.

Winter rice: In 2025, the country cultivated 1.5 million hectares of winter rice, showing a year-on-year down trend of 4,600 hectares; the yield was estimated at 52.4 quintals/hectare, a rise of 2.2 quintals/hectare; and the production was estimated at 8.07 million tons, an increase of 314,800 tons

Annual crops: Maize area reached 865.6 thousand hectares (a year-on-year fall of 5.9 thousand hectares), the yield was estimated at 4.4 million tons (up 7.8 thousand tons); peanut reached 144.3 thousand hectares (down 4.2 thousand hectares), the yield was estimated at 388.1 thousand tons (down 9.1 thousand tons); soybean reached 26.3 thousand hectares (down 2.2 thousand hectares), the yield was estimated at 43.3 thousand tons (down 2.8 thousand tons); sweet potato reached 77.0 thousand hectares (down 4.0 thousand hectares), the yield reached 929.0 thousand tons (down 43.9 thousand tons). Meanwhile, vegetable production gained positive results due to increased production, intercropping in fruits orchard, and focus on new varieties, satisfying the market demands, responding to climate change for high yield. The planted area of ​​vegetable in 2025 was estimated at 1,002.9 thousand hectares, a year-on-year growth of 3.1 thousand hectares; the production reached 19.6 million tons, an upturn of 519.5 thousand tons.

In general, the production of some industrial crops in 2025 were as follows: Coffee reached 2,116.1 thousand tons, up 5.0%; rubber reached 1,346.1 thousand tons, up 1.4%; tea leaves reached 1,161.4 thousand tons, up 0.6%; cashew nuts reached 293.0 thousand tons, down 4.3%;

The production of some fruits showed a growth as follows: Lychee 408.8 thousand tons, increasing by 60.3%; durian 1,820.9 thousand tons, rising by 18.8%; jackfruit 1,402.2 thousand tons, rising by 13.7%; longan 666.3 thousand tons, growing by 12.7%; mangoes 1,188.0 thousand tons, growing by 8.6% bananas 3,192.8 thousand tons, rising by 5.3% and dragon fruit 1,203.7 thousand tons, rising by 1.4%.

Buffalo and cattle and farming nationwide continued its downward trend, mainly due to shrinking grazing areas, low economic efficiency, and input costs increased higher than outputs prices. Pig farming witnessed an advantage in the first half of the year thanks to effective measure to prevent and control disease outbreaks and favorable product prices[14], ensuring profits for farmers and creating momentum for maintaining and expanding production. However, in the third quarter of 2025, African swine fever occurred and spread nationwide, causing serious losses for pig farming and causing a sharp decrease in the total pig numbers, of which some localities were severely affected including Cao Bang (a year-on-year fall of 20.5%), Lai Chau (down 16.5%), and Quang Tri (down 9.7%). Pig farming in large enterprises and farms witnessed a stable production and expand investment thanks to the application of biosecurity measures. Some localities saw a growth in the total pig numbers, such as Tay Ninh (a year-on-year growth of 19.9%), Gia Lai (up 13.8%), and Lam Dong (up 7.5%), contributing to offsetting the losses caused by the disease. Poultry farming witnessed a stability, localities promoted the development of integrated farming models to create a closed chain from farm to table. In 2025, some localities showed a positive growth in numbers of poultry including Can Tho (a year-on-year growth of 12.7%), Gia Lai (up 7.8%), Thanh Hoa (up 6.9%), Nghe An (up 6.8%), and Quang Ngai (up 5.9%).

b) Forestry

The area of newly planted forests nationwide in the fourth quarter of 2025 was estimated at 103.5 thousand hectares, showing a year-on-year[15] fall of 0.7%; number of scattered forest trees reached 15.7 million trees, falling by 5.9%; wood production reached 7,752.3 thousand m³, rising by 4.2%. Generally, in 2025, the area of newly planted forests was estimated at 323.3 thousand hectares, showing a year-on-year growth of 6.4%; number of scattered forest trees reached 85.3 million trees, falling by 0.3%; production reached 25,616.0 thousand m3, growing by 6.9%.

The damaged forest area[16] in the fourth quarter of 2025 was 129.3 hectares, showing a year-on-year fall of 28.8%. Of which, the deforested area was 117.7 hectares, falling by 34.7%), the area of forest burned was 11.6 hectares, showing a 7.4-fold growth. Generally in 2025, the country was recorded with 1,127.6 hectares of damaged forest, showing a year-on-year drop of 30.7%. Of which the deforested area was 801.2 hectares, falling by 9.5%, and the area of forest burned was 326.4 hectares, dropping by 56.0%.

c) Fishing

In 2025, the total capture fisheries and aquaculture production was estimated 9,947.5 thousand tons, showing a year-on-year upward trend of 3.0%, (Q4 2025 was estimated at 2,689.1 thousand tons, showing a year-on-year growth of 2.7%), including fish reached 6,962.4 thousand tons, showing a growth of 2.7%; shrimp reached 1,522.2 thousand tons, showing an upward trend of 5.5%; and other aquatic products reached 1,462.9 thousand tons, showing a rise of 1.9%.

In 2025, aquaculture production was estimated at 6,116.8 thousand tons, showing a year-on-year upturn of 5.1%, including fish reached 4,035.0 thousand tons, going up by 4.9%; shrimp reached 1,381.7 thousand tons, growing by 6.1%; and other aquatic products reached 700.1 thousand tons, showing a growth of 4.4%.

Capture fisheries production in 2025 was estimated at 3,830.7 thousand tons, showing a year-on-year slip of 0.2% (Q4 2025 was estimated at 862.4 thousand tons, showing a year-on-year downturn of 1.6%), including fish reached 2,927.4 thousand tons, showing a decrease of 0.2%; shrimp reached 140.5 thousand tons, showing a fall 0.4%; and other aquatic products reached 762.8 thousand tons, showing a slip 0.3%. Of which, marine capture fisheries production in the fourth quarter of 2025 was estimated at 3,638.6 thousand tons, showing a year-on-year[17] decrease of 0.1%.

3. Industrial production in the Q4 2025 maintained its positive growth trajectory, with the Index of Industrial Production (IIP) was estimated to rise by 9.9% year-on-year. This performance was driven by enterprises ramping up production to meet the year-end demand for both domestic consumption and exports. For 2025, the IIP was estimated to increase by 9.2% year-on-year, marking the highest growth rate since 2019[18].

In 2025, the Index of Industrial Production (IIP) was estimated to increase by 9.2% year-on-year (the corresponding figure in 2024 was 8.2%). Specifically, the manufacturing grew by 10.5% (the corresponding figure in 2024 was 9.5%), contributing 8.4 percentage points to the overall growth; the electricity generation and distribution increased by 6.7% (versus 9.5% in 2024), contributing 0.6 percentage points; the water supply, sewerage, wastewater management and remediation rose by 7.8% (versus 10.6% in 2024), contributing 0.1 percentage points; the mining and quarrying grew by 0.5% (6.3% decline in the same period of 2024), contributing 0.1 percentage points.

In 2025, the index of industrial shipment (IIS) of manufacturing recorded a year-on-year increase of 9.9% (the corresponding period in 2024 saw an increase of 11.4%).

The index of industrial inventory of the manufacturing as of December 31, 2025 experienced a month-on-month increase of 6.2% and a year-on-year rise of 13.1% (the corresponding period in 2024 saw an increase of 10.4%). The average Inventory Turnover Ratio (ITR) for the manufacturing in 2025 was 81.1% (the corresponding figure in 2024 saw an average figure of 77.1%).

4. The number of enterprises registrations in 2025 increased significantly thanks to the Resolution 68 – NQ/TW to the implementation and effective. The number of enterprises entering the market was higher than the number of enterprises withdrew from the market.

a) Enterprise registration situation

In December, the whole country had nearly 17.2 thousand newly established enterprises with a registered capital of 166 trillion VND and registered employees of 100.6 thousand employees, a month-on-month increase of 13.9%, 3.4%, 20.8% in the number of enterprises, in the registered capital and in the number of employees, respectively. In comparison with the same period last year, in the number of enterprises, the registered capital and the number of employees showed an increase of 71.6%, 72.2%, and 5.1%, respectively.

 In 2025, the whole country had 195.1 thousand newly established enterprises with a total registered capital of 1,919.2 trillion VND and a total registered employees of 1,151.4 thousand employees, a year-on-year increase of 24.1%,  24.1%, 15.0% in the number of enterprises, in registered capital and in the number of employees, respectively. The average registered capital of a newly established enterprises in 2025 reached 9.8 billion VND, equal to the same period last year. The total registered capital added to the economy in 2025 was nearly 6.4 million trillion VND, a year-on-year increase of 77.8%^[19]. In addition, the whole country had 102.3 thousand resumed operations enterprises (a year-on-year increase of 34.3%), bringing the total number of newly established and resumed enterprises in 2025 to 297.5 thousand enterprises, a year-on-year increase of 27.4%. On average, there were 24.8 thousand newly established and resume enterprises per month.

In 2025, the number of enterprises temporarily suspending for a definite time was 114.4 thousand enterprises, a year-on-year increase of 14.3%; 76.9 thousand enterprises suspended operation waiting for dissolution procedures, an increase of 0.9%; and 35.9 thousand enterprises completed procedures for dissolution, an increase of 66.1%. On average, 18.9 thousand enterprises withdrew from the market per month.

b) Business tendency of the enterprises

 The assessment of business performance of enterprises^[20] in the fourth quarter of 2025 showed that: 75.8% of enterprises assessed that their business performance was better and remained stable compared to the previous quarter (25.4% better and 50.4% remain stable); 24.2% of enterprises assessed business performance as more difficult^[21]. Compared to the third quarter of 2025, the proportion of enterprises presented that the business performance was better increased by 1.1%; those assessed it as stable decreased by 0.2%; and those assessed it as more difficult decreased by 0.9%.

The manufacturing sector was the most optimistic with 79.1% of enterprises assessing that their business performance in the fourth of 2025 would be better and remain stable compared to the third quarter of 2025 (35.2% better and 43.9% remain stable); 20.9% of enterprises predicted that it would be more difficult^[22].

In the trade and service sector, 76.2% of enterprises assessed that their business performance in the fourth quarter of 2025 would be better and remain stable compared to the third quarter of 2025 (21.3% better and 54.9% remain stable); 23.8% enterprises predicted that it would be more difficult^[23].

In the construction sector, 71.9% of enterprises assessed that their business performance in the fourth quarter of 2025 would be better and remain stable compared to the third quarter of 2025 (28.9% better and 43.0% remain stable); 28.1% of enterprises predicted that it would be more difficult^[24].

5. Science and technology, innovation

It was estimated that in 2025, the science and technology activities[25] contributed directly approximately 1.68% to GDP, furthermore, science and technology activities had spillover effects on other economic activities with an indirect contribution of about 0.81%. Therefore, the direct and indirect impact of science and technology activities accounts for approximately 2.5% of GDP (equivalent to 320.4 trillion VND), an increase of 16.3% compared to that in 2024 and an increase of approximately 51% compared to 2020.

According to the report of the Ministry of Science and Technology, in 2025 Viet Nam achieved many accomplishments in the science, technology, and innovation; especially major breakthroughs in AI and digital transformation, which have contributed to rapid and sustainable socio-economic development. Some notable achievements were as follows:

Regarding the Global Innovation Index (GII), according to the GII 2025 Report by the World Intellectual Property Organization (WIPO): Viet Nam’s innovation index ranked 44th out of 139 countries and economies, maintaining the same position as in 2024. Within the ASEAN, Viet Nam surpassed Thailand, ranking 3rd, after Singapore and Malaysia.

Regarding innovation, in 2025 Viet Nam’s innovation ecosystem continued to develop with the launch of the National Science and Technology Exchange. Viet Nam’s innovative startup ecosystem ranked 55th out of 100 globally. According to the Ministry of Science and Technology’s 2025 summary report, the proportion of enterprises implementing innovation in Viet Nam reached 34.6%, a decrease of 4.2 percentage points compared to 2024.

Regarding intellectual property, in 2025, the Ministry of Science and Technology received 183,700 applications for industrial property rights (IPR), a year-on-year increase of 20.4%; processed 249,854 IPR applications, a year-on-year increase of 74.4%; and granted 83,000 IPR protection certificates, a year-on-year increase of 54.6%.

Regarding online public services on the National public service portal, as of December 30, 2025, over 94,334 thousand online applications had been processed via the National public service portal; nearly 636,949.8 thousand applications had their status synchronized to the national public service portal. To serve enterprises, there were 1,955 administrative procedures providing online public services, of which 1,075 full online public services and 880 partial online public services. To serve citizens, there were 1,329 administrative procedures providing online public services, of which 672 full online public services and 657 partial online public services.

Regarding atomic energy and nuclear radiation safety, in 2025, 1,333 licenses for radiation work were issued, a decrease of 9.3% compared to 2024; 38 registration certificates for atomic energy support services were issued, an increase of 65.2%; 1,000 radiation worker certificates and professional practice certificates were issued, a decrease of 2.0%; and 25 decisions approving incident response plans were signed, an increase of 4.2%.

6. Trade, transportation, and tourism activities in 2025 were expected to maintain relatively strong growth compared to the previous year. Increased domestic consumption demand for goods, services, and domestic tourism, especially during major national celebration events, together with a sharp rise in international visitors to Viet Nam positively contributed to the growth of the trade and service in 2025.

        The gross retail sales of consumer goods and services in the fourth quarter of 2025 were estimated to increase by 8.4% over the same period last year; passenger carried and passenger traffic saw a year-on-year increase of 21.5% and 11.5%, respectively; freight carried and freight traffic recorded a year-on-year rise of 10.8% and 9.9%, respectively; telecommunications turnover in the fourth quarter of 2025 increased by 6.7%; and the number of international visitors to Vietnam increased by 17.5%.

In 2025, the gross retail sales of consumer goods and services at current prices were estimated at 7,008.9 trillion VND, increasing by 9.2% over that in the same period last year (2024 increased by 8.9%), if excluding the price rising factor, the increase was 6.7%, equivalent to the growth rate recorded in 2024.

For the whole year 2025, passenger carried was estimated at 6,183.6 million turns of passengers, a year-on-year rise of 22.2%, and passenger traffic reached 312.0 billion passenger-kilometer, a year-on-year growth of 13.6%. Of which, in the fourth quarter of 2025, passenger carried was estimated at 1,669.5 million turns of passengers, a year-on-year increase of 21.5% and passenger traffic reached 78.7 billion passenger-kilometer, a rise of 11.5%

For the whole year 2025, freight carried was estimated at 3,027.7 million tons, a year-on-year rise of 14.1% and freight traffic reached 612.3 billion ton-kilometer, a year-on-year increase of 13.1%. Of which, in the fourth quarter of 2025, freight carried was estimated at 799.6 million tons, an increase of 10.8% and freight traffic reached 160.2 billion ton-kilometer, an increase of 9.9%, year-on-year.

­­­­ In 2025, telecommunications turnover was estimated at 380.0 trillion VND, an increase of 6.0% over the same period last year (if excluding the price factor rising by 5.8%). The total number of telephone subscribers as of the end of 2025 was estimated at 123.6 million, an increase of 2.5% over that in the same period last year. Of which, the number of mobile subscribers was 121.3 million, a growth of 2.2% over the same period last year. The number of DSL Internet subscribers as of the end of the year was estimated at 25.1 million, increasing by 4.7% over the same period last year.

For the year as a whole, international visitors to Viet Nam amounted to nearly 21.2 million in 2025, an increase of 20.4% over that in the same period last year. Of which, arrivals by air reached over 17.8 million arrivals, accounting for 84.3% of total international visitors to Viet Nam and rising by 20.2% year-on-year; arrivals by road reached nearly 3.1 million, accounting for 14.4% and increasing by 22.6%; arrivals by sea reached 273.9 thousand, accounting for 1.3% and rising by 10.4%.

In 2025, the number of outbound Vietnamese people totaled 6.7 million, jumping up 26.4% over the same period last year.

7. The State Bank of Vietnam (SBV) maintained a proactive and flexible monetary policy in 2025 to stabilize inflation and contribute to economic expansion. The insurance and stock markets grew steadily, with market capitalization surging 39.1% from the end of 2024.

As of December 22, 2025, the total money supply increased by 14.98% compared to the end of 2024 (the corresponding period last year saw an increase of 9.15%). Capital mobilization by credit institutions rose by 13.68% (the corresponding figure in 2024 was 8.79%), and credit growth of the economy reached 17.65% (the corresponding figure in 2024 was 13.4%).

 Total premium revenue across the insurance market in the Q4 2025 was estimated to increase by 4.5% year-on-year; with life and non-life sectors increasing by 1.1% and 11.1%, respectively. In 2025, total premium revenue across the insurance market was estimated to reach 237.2 trillion VND, a year-on-year rise of 4.0%; specifically: life insurance premium revenue was estimated at 148.8 trillion VND, up 0.5%, while the non-life insurance sector reached an estimated 88.4 trillion VND, a growth of 10.3%.

In the stock market, as of December 31, 2025, the VNIndex reached 1,784.49 points, representing an increase of 40.9% compared to the end of 2024. Market capitalization of listed stocks reached 9,975.4 trillion VND, marking a year-on-year increase of 39.1%. The average trading value reached 29,328.2 billion VND per session, a year-on-year increase of 39.8%.

8. Total disbursed investment in 2025 at current prices was estimated at 4,150.5 trillion VND, a year-on-year increase of 12.1%, significantly higher than the 7.8% growth rate of the previous year. Disbursed foreign direct investment (FDI) in Viet Nam in 2025 was estimated at 27.62 billion USD, a year-on-year increase of 9.0%, the highest figure in the last 5-year period.

In 2025, the total disbursed investment at current prices was estimated to reach 4,150.5 trillion VND, a year-on-year increase of 12.1% (Q4 2025 was estimated at 1,445.9 trillion VND, up 12.8%), including State sector’s investment reached 1,233.6 trillion VND, accounting for 29.7% of the total disbursed investment and increasing by 19.7%; non-state sector’s investment reached 2,237.1 trillion VND, accounting for 53.9% and increasing by 8.4%; and FDI reached 679.8 trillion VND, accounting for 16.4% and increasing by 11.7%.

Total inward foreign investment in Viet Nam ^[26] as of December 31, 2025 including newly registered capital, adjusting registered capital, and capital contribution and purchasing shares by foreign investors, reached 38.42 billion USD, a year-on-year upturn of 0.5%. Of which, 44,054 projects were newly licensed with registered capital of 17.32 billion USD, a year-on-year increase of 20.1% in terms of the number of projects and a decrease of 12.2% in terms of registered capital; 1,404 projects that were licensed from previous years registered to adjust investment capital to increase by 14.07 billion USD, up 0.8% over that in the same period last year; there were 3,587 turns of registered capital contribution and purchasing shares by foreign investors with a total capital contribution value of  7.03 billion USD, a year-on-year increase of 54.8%. Of which, 1,305 turns capital contribution and purchasing shares increased the charter capital of enterprises with a capital contribution value of 2.55 billion USD, and 2,282 foreign investors re-bought domestic shares without making the charter capital increase with a value of 4.48 billion USD.

The disbursed FDI in Viet Nam in 2025 was estimated at 27.62 billion USD, a year-on-year upturn of 9.0%. This was the highest figure in the FDI in the last 5-year period[27].

9. State budget revenue^[28] and expenditure for 2025 were estimated to grow by 29.7% and 31.2% year-on-year, respectively. This expansion was designed to facilitate robust socio-economic development and national security while enhancing the quality of life for all citizens.

Total state budget revenue in December 2025 was estimated at 244.2 trillion VND. The total state budget revenue accumulated in 2025 was estimated at 2,650.1 trillion VND, reaching 134.7% of the annual estimate and going up by 29.7% over the same period last year[29]. Specifically, domestic revenue was estimated at 2,279.9 trillion VND, reaching 136.7% of the annual estimate and an increase of 33.2% over the same period last year[30]; revenue from crude oil was estimated at nearly 48.0 trillion VND, reaching 90.1% of the annual estimate and down 18.2% over the same period last year; budget revenue balancing from import and export was estimated 319.8 trillion VND, reaching 136.1% of the annual estimate and an increase of 18.2% over the same period last year.

Total state budget expenditure in December 2025 was estimated at 350.1 trillion VND. The accrued expenditure in 2025 was 2,401.5 trillion VND, reaching 93.2% of the annual estimate and an increase of 31.2% over the same period last year[31].

10. Export and import of goods and services^[32] in 2025 increased sharply over the same period last year with many key export items recording strong growth.

a) Export and import of goods^[33]

In December 2025, total export and import turnover of goods reached 88.72 billion USD, a month-on-month increase of 15.1% and a year-on-year rise of 25.7%. For the year as a whole in 2025, the total export and import turnover of goods reached 930.05 billion USD, going up 18.2% over same period last year, of which exports increased by 17.0% and imports rose by 19,4%^[34]. The trade balance of goods recorded a surplus of 20.03 billion USD.

 Export turnover of goods in December 2025 amounted to 44.03 billion USD, increasing by 12.6% over the previous month. In the fourth quarter of 2025, export turnover reached 126.3 billion USD, increasing by 20.0% over the same period last year and decreasing by 1.7% compared with the third quarter of 2025. For 2025 as a whole, the export turnover of goods reached 475.04 billion USD, a year-on-year rise of 17.0%.

Import turnover of goods in December 2025 reached 44.69 billion USD, a rise of 17.6% over the previous month. In the fourth quarter of 2025, the import turnover reached 123.1 billion USD, a year-on-year increase of 21.3% and a quarter-on-quarter rise of 2.9%. For the year as a whole in 2025, the import turnover of goods reached 455.01 billion USD, a year-on-year surge of 19.4%.

b) Export and import of services

In the fourth quarter of 2025, the export turnover of services was estimated at 8.26 billion USD, a year-on-year increase of 17.3% and an upturn of 9.0% over the previous quarter; the import turnover of services was estimated at 10.55 billion USD, a growth of 10.8% over the same period last year and a downturn of 1.1% compared to that in the previous quarter.

For the year as a whole in 2025, the export turnover of services was estimated at 30.31 billion USD, a year-on-year expansion of 18.9%, of which tourism services reached 15.22 billion USD (accounting for 50.2% of the total turnover), surging up 24.4%, and transport services reached 8.8 billion USD (accounting for 29.0%), shooting up 23.6%.

The import turnover of services in 2025 was estimated at 40.54 billion USD (including 14.43 billion USD for transportation and insurance service fees of imported goods), a year-on-year surge of 14.0%, of which transport services reached 17.1 billion USD (accounting for 42.1% of the total turnover), going up 19.9%, and tourism services reached 14.7 billion USD (accounting for 36.4%), accelerating by 15.6%.

The trade deficit of services in 2025 was 10.23 billion USD.

11. The Consumer Price Index (CPI) in December witnessed a month-on-month increase of 0.19% due to high rise in the prices of food, foodstuff and eating out. The CPI in December experienced a year-on-year soar of 3.48%. The average CPI in the fourth quarter of 2025 climbed up 3.44% compared to that in the fourth quarter of 2024. The CPI in the whole year 2025 saw a year-on-year expansion of 3.31%, meeting the target set by the National Assembly; the core inflation[35] witnessed an increase of 3.21%.

a) Consumer price index

In the month-on-month increase of 0.19 % in the CPI in December, nine groups of goods and services possessed a rise in the CPI, while two groups of goods witnessed a decrease. The average CPI in the fourth quarter of 2025 experienced a quarter-on-quarter jump of 3.44%.

The CPI in the whole year 2025 saw a year-on-year expansion of 3.31%.

Core inflation in December experienced a month-on-month increase of 0.23% and a year-on-year rise of 3.27%. The average core inflation in 2025 witnessed a year-on-year increase of 3.21%, lower than a soar of 3.31% in the overall CPI[36].

b) Gold and US dollar index

The gold price index in December recorded a month-on-month soar of 2.18%; a year-on-year surge of 70.37%; and in 2025 the average gold price index rocketed by 47.67% compared to that in previous year.

The US dollar price index in December edged up 0.17% compared to that in the previous month and a year-on-year increase of 3.68; the average US dollar price index in 2025 saw a year-on-year increase of 3.92%.

c) Producer Price Index

In 2025, the world commodity market fluctuate wildly, impacted by geopolitical instability and the trend toward adjustments of economic and trade policy among major economies. Fluctuations in prices of raw material and transport costs, along with the impact of natural disasters and extreme weather affected global supply chains and prices of commodity in the world market. The domestic production of goods and services maintained its growth but faced pressure from fluctuations in prices of raw materials; exchange rates; competition in the international trade market; the impact of storms, floods, and risk of epidemic outbreak in some provinces, causing disruptions of supply chain in some localities and increasing costs of production. The producer price index; input price index for production; merchandise export and import price index in the fourth quarter and 2025 also increased compared to that in the same period in 2024.

In the fourth quarter of 2025, the producer price index of agriculture, forestry and fishing witnessed an quarter-on-quarter expansion of 1.55% and a year-on-year upturn of 1.35%; similarly, the producer price index of the industry saw a jump of 0.51% and 3.50%; the producer price index of the service experienced an increase of 0.57% and 5.10%; the input price index for production possessed an expansion of 1.27% and 5.16, respectively.

In 2025, the producer price index of agriculture, forestry and fishing saw a year-on-year soar of 4.01%; the producer price index of the industry witnessed a year-on-year increase of 2.55%; the producer price index of the service possessed a year-on-year surge of 5.09%; the input price index for production experienced a year-on-year surge of 4.36%.

II. SOME SOCIAL ISSUES

1. The average population of Viet Nam in 2025 was 102.3 million persons. Population quality continued to be improved, the fertility rate remained at replacement level, mortality rate was low, and average life expectancy increased thanks to advancements in medicine and improved public health care. The labour and employment situation in the fourth quarter of 2025 showed many positive signs: the labour force, the number of employed persons, and average monthly income of employees all increased compared to the previous quarter and the same period last year. Overall, in 2025, the labour force aged 15 and over was 53.5 million persons, an increase of 589.5 thousand persons compared to the same period last year; the employed workforce was 52.4 million persons, an increase of 578.3 thousand persons; the unemployment rate of the working-age population was 2.22% and the underemployment rate of the working-age population was 1.65%.

The average population in 2025 was estimated at 102.3 million persons, an increase of 1,001.6 thousand persons, equivalent to a 0.99% growth compared to that in 2024. Of which, the urban population was 39.4 million persons, accounting for 38.6%; the rural population was 62.9 million persons, sharing for 61.4%; the male population was 51.0 million persons, occupying 49.9%; and the female population was 51.3 million persons, representing 50.1%. The sex ratio of the population in 2025 was 99.5 male births/100 female births.

According to the results of the Population and Family Planning Survey as of April 1, 2025, the total fertility rate in 2025 reached 1.93 children per woman. The sex ratio at birth was 109.0 male births/100 female births; the crude birth rate was 13.7‰; the crude death rate was 6.1‰. The infant mortality rate (number of infant deaths per 1,000 live births) was 11.2‰. The under-five mortality rate (number of under-five deaths per 1,000 live births) was 16.7‰. The average life expectancy of the national population in 2025 was 74.7 years, equivalent to that in 2024 (of which the average life expectancy for male was 72.3 years and for female was 77.3 years).

The labour force aged 15 and over nationwide in the fourth quarter of 2025 was estimated at 53.8 million persons, a quarter-on-quarter increase of 488.7 thousand persons and a year-on-year rise of 690.0 thousand persons; The proportion of trained employees with diplomas/certificates in the fourth quarter of 2025 was 29.5%, a quarter-on-quarter increase of 0.2 percentage points and a year-on-year rise of 0.9 percentage points. Overall, in 2025, the labour force aged 15 and over was 53.5 million persons, a year-on-year increase of 589.5 thousand persons; the labour force participation rate was 68.6%, a year-on-year decrease of 0.2 percentage points; the proportion of trained employees with diplomas/certificates was 29.2%, an increase of 0.8 percentage points.

The number of employed persons in the fourth quarter of 2025 was 52.7 million persons, a quarter-on-quarter increase of 477.5 thousand persons and a year-on-year growth of 656.2 thousand persons. Overall, in 2025, the number of employed persons was 52.4 million persons, a year-on-year increase of 578.3 thousand persons (equivalent to a rise of 1.1%).

The underemployment rate of labour force at working age[37] in the fourth quarter of 2025 was 1.67%, a quarter-on- quarter growth of 0.17 percentage points and a year-on-year rise of 0.02 percentage points. Of which, the rate was 1.27% in the urban area and 1.94% in the rural area. Overall, in 2025, the underemployment rate at working-age was 1.65%, a year-on-year decline of 0.20 percentage points; of which the underemployment rate in the urban area was 1.25%, a drop of 0.05 percentage points; and the rate in the rural area was 1.93%, a reduction of 0.29 percentage points.

Average income of employees in the fourth quarter of 2025 was 8.7 million VND/month, an increase of 323 thousand VND compared to the third quarter of 2025 and a rise of 508 thousand VND compared to the same period in 2024. Overall, in 2025, the average income of employees was 8.4 million VND/month, an increase of 8.9%, equivalent to a growth of 685 thousand VND compared to the previous year.

The unemployment rate at working age[38] in the fourth quarter of 2025 was 2.22%, increased by 0.01 percentage points compared to the previous quarter and remained unchanged compared to the same period last year. Overall, in 2025, the rate was 2.22%, a year-on-year decrease of 0.02 percentage points, of which, it was 2.51% in the urban area and 2.02% in the rural area.

The labour underutilization rate[39] in the fourth quarter of 2025 was 4.0%, an increase of 0.2 percentage points compared to both the previous quarter and the same period last year. Overall, in 2025, the labour underutilization rate was 3.9%, a decrease of 0.2 percentage points compared to the previous year. Of which, the rate was 3.7% in the urban area and 4.0% in the rural area.

The number of owned-account workers in the fourth quarter of 2025 was 3.8 million, a quarter-on-quarter increase of 34.1 thousand persons and a year-on-year rise of 177.1 thousand persons. Overall, in 2025, the number of owned-account workers was 3.8 million, an increase of 122.5 thousand persons compared to that in 2024. Female accounted for 63.4% of the owned-account workers.

2. People’s living conditions and social security

 In 2025, the income and living conditions of households were improved. Much attention to social security work continued to be paid and implemented by all levels and sectors, from the central to local authorities.

According to preliminary results of the 2025 Household Living Standards Survey, the average per capita income at current prices 2025 reached approximately 5.9 million VND per person per month, an increase of 9.3% compared to 2024. The multidimensional poverty rate in 2025 was about 1.3%, a decrease of 1.0 percentage point compared to 2024.

According to the survey results in the fourth quarter of 2025, 96.1% of households reported that their income remained unchanged or increased compared to the same period in 2024 (a decrease of 0.2 percentage points compared to the third quarter of 2025 and an increase of 0.1 percentage points compared to the same period last year).

Social security work was promptly and practically implemented by all levels, from central to local. In 2025 (from December 26, 2024 to December 25, 2025)[40], the total support for national devotees and martyrs’ relatives was nearly 50.3 trillion VND; support for social protection beneficiaries under the Decree No. 20/2021/ND-CP dated March 15, 2021 was over 34.2 trillion VND; support for poor households, near-poor households, households with difficult circumstances, and social policy households not covered by the Decree No. 20/2021/ND-CP was nearly 4.7 trillion VND; sudden and unusual support in localities was over 3.2 trillion VND. Nearly 29.3 million health insurance cards/books/free medical examination and treatment cards were distributed and given to beneficiaries.

In 2025, the Government supported people with nearly 42.1 thousand tons of rice, of which: 6.0 thousand tons of rice for hunger relief during the Lunar New Year for 402.6 thousand persons; 4.3 thousand tons of rice for hunger relief during the pre-harvest season for 284.5 thousand persons; and over 31.8 thousand tons of rice to overcome the consequences of natural disasters and floods for approximately over 2.1 million persons.

According to data reported by the Ministry of Ethnic Minorities and Religions, the program “Joining hands to eliminate temporary and dilapidated houses nationwide” basically completed its goals by the end of August, finishing 5 years and 4 months ahead of the target set in the Resolution No. 42-NQ/TW dated November 24, 2023, of the Central Committee on continuing to innovate and improve the quality of social policies to meet the requirements of national construction and defense in the new period. The program supported the construction and repair of 334,234 houses (including 255,310 new houses and 78,924 repaired houses). Following the recent record-breaking, severe, and unusually heavy rains and floods in the South Central provinces in November, the Government launched the “Quang Trung Campaign” to rapidly build and repair nearly 35,000 houses for the people, as of December 30, 2025, the repairs were basically completed. In addition, construction began on 1,597 new houses, of which 671 new houses were completed, reaching 42.0% of the plan, and the plan was expected to be completed before January 25, 2026[41].

3. Education and training

Regarding the high school graduation exam, the 2025 exam marked the first year of implementation under the “2+2” model, with two compulsory subjects Literature and Mathematics and two out of nine selective subjects, aligned with their career orientation during upper secondary education. The exam was concurrently administered under 02 separate regulations and 02 exam question sets corresponding to 02 general education curricula 2006 and 2018. The 2025 high school graduation exam also marked an important milestone, as the score distribution was released before candidates received their individual results, demonstrating transparency in the examination organization process. In 2025, the country had over 1.1 million candidates registered to take the exam, recording an increase of nearly 100 thousand candidates compared to that in 2024. The national high school graduation rate in 2025 was 99.25% (compared to 99.40% in 2024).

Regarding the opening ceremony of the 2025-2026 school year, approximately 26 million pupils and students and 1.6 million teachers nationwide participated in a historic opening ceremony. This year ceremony was organized by the Ministry of Education and Training, coinciding with the 80th anniversary of the education sector’s tradition at the National Convention Center (Ha Noi), connecting online to approximately 52,000 educational institutions across the country.

Entering the new school year, Viet Nam’s education sector has been guided by a comprehensive and breakthrough-oriented policy framework, establishing a solid legal foundation for development, including: the implementation of the Politburo’s Resolution No. 71-NQ/TW, the National Assembly’s Resolution No. 217/2025/QH15 on tuition fee exemptions and support for preschool children, general education students, and learners in general education programs, as well as the Resolution No. 218/2025/QH15 targeting the universalization of preschool education for children aged 3 to 5.

The 2025-2026 school year focused on concrete actions aimed at narrowing regional disparities and improving the quality of teaching and learning, such as prioritizing the development of solid and permanent school infrastructure in land border communes. Accordingly, on 18 July 2025, the Central Committee issued Notice No. 81-TB/TW 2025, conveying the Politburo’s conclusion on the policy of investing in school construction for land border communes. This policy endorsed investment in the construction of inter-level boarding schools covering primary and lower secondary education in 248 land border communes; in the immediate term, a pilot initiative completed new construction or renovation of 100 schools in 2025. In parallel, measures such as the provision of semi-boarding meals and the implementation of two-session-per-day schooling have been being promoted nationwide, creating an optimal environment for the comprehensive physical and intellectual development of students.

4. Epidemic, food poisoning[42]

According to the Ministry of Health’s report, in 2025, the country had 181.2 thousand cases of dengue fever (36 deaths); 96.1 thousand cases of hand, foot and mouth disease (02 deaths); 374 cases of viral encephalitis (01 death); 117.6 thousand cases of rash fever suspected of measles (11 deaths); 104 cases of meningococcal meningitis (01 death); 73 deaths of rabies.

As of December 18, 2025, the total number of people living with HIV nationwide was nearly 254 thousand persons; the number of deaths from HIV/AIDS was 117.7 thousand persons.

Regarding food poisoning, in 2025 (from December 19, 2024 to December 18, 2025), there were 70 cases nationwide, with 1,558 persons poisoned (17 deaths).

5. Authorities demonstrated a strong commitment in cultural preservation and promotion efforts, maintained a vibrant mass sports movement, and saw remarkable achievements in elite sports.

Regarding culture, 2025 was a particularly significant year marked by numerous major historical and cultural milestones of Viet Nam. It was a period that featured a wide range of national-level commemorative activities, alongside a surge in festivals, music programs, and large-scale concerts associated with major political and cultural events of the country, such as: the 50th anniversary of national reunification; the 80th anniversary of the August Revolution, and National Day on September 2. Artistic programs of unprecedented scale and investment were organized in diverse formats, ranging from national concerts, contemporary music festivals, and mega music events serving tourism development to performance activities within traditional cultural festivals, with the participation of numerous domestic and international artists and performers. In particular, the rapidly expanding trend of integrating traditional ethnic elements with modern music in Viet Nam underscored the importance of connecting the past with the present, while preserving and promoting national cultural values and traditions, thereby affirming Viet Nam’s cultural identity on the international stage[43].

 

The Exhibition of National achievements was held at the National Exhibition Center (Dong Anh Commune, Ha Noi) from 28 August to 15 September 2025 under the theme “80 years – The Journey of Independence, Freedom, and Happiness.”; Four outstanding heritage elements across different categories honored by UNESCO for the first time, including: the inscription of the Yen Tu – Vinh Nghiem – Con Son – Kiep Bac complex of monuments and scenic landscapes; the extension and adjustment of the Phong Nha – Ke Bang World natural heritage site; the inclusion of the collection of composer Hoang Van in the Memory of the world register; and the inscription of Dong Ho folk woodblock printing on the List of intangible cultural heritage in need of urgent safeguarding.

Regarding elite sport, in 2025, the Viet Nam sports delegations achieved encouraging results with a total of 2,253 medals of all kinds, of which: 80 world gold medals, 161 Asian gold medals, and 616 gold medals at the Southeast Asian level. Notable achievements at the regional and continental levels included: the Viet Nam national football team winning the ASEAN Cup, held from 8 December 2024 to 5 January 2025; the Viet Nam U23 team claiming the championship at the 2025 Southeast Asian U23 Championship, organized from 15 to 29 July 2025 in Indonesia; the Viet Nam women’s volleyball team winning the 2025 SEA V.League; and a third-place overall finish at the 33rd Southeast Asian Games (SEA Games 33) in Thailand, with a total of 87 gold medals, 81 silver medals, and 112 bronze medals. Many national teams delivered outstanding performances, affirming Viet Nam’s standing within the region, including athletics (12 gold medals), wrestling (10 gold medals), rowing and canoeing (8 gold medals), shooting (8 gold medals), swimming (7 gold medals), and karate (6 gold medals). In addition, Viet Nam ranked 22nd overall at the Asian Youth Games held in Bahrain from 22 to 31 October 2025.

6. In 2025, the number of cases of traffic accident^[44], deaths and injuries saw a year-on-year decrease of 22.5%, 7.5%, and 29.6%, respectively.

In 2025, there were 18,371 cases of traffic accident nationwide, resulting in 10,337 deaths and 12,197 injuries. Compared to the figures of the same period last year, the number of traffic accidents cases, deaths, and injuries decreased by 22.5%, 7.5%, and 29.6%, respectively. On average, in 2025, there were 50 traffic accidents, causing 28 deaths and 33 injuries a day.

7. Natural disasters, environmental pollution and fires and explosions significantly impacted the lives of people in some localities.

Natural disaster-induced loss^[45]: In 2025, natural disasters resulted in 489 deaths and missing persons; 800 injuries; 386.6 thousand hectares of rice and 174 thousand hectares of other crops damaged; 7.5 million livestock and poultry killed; and 340.2 thousand houses collapsed, swept away, or damaged. The total value of property damage caused by natural disasters in 2025 was estimated at nearly 102,665.3 billion VND, recording a year-on-year increase of 15.0%.

Environmental protection[46]: In 2025, the functional authorities detected 16,280 cases of environmental violations, of which, 14,302 cases were addressed with a total fine of nearly 240.8 billion VND, recording a year-on-year reduction of 23.7%.

Fire and explosion^[47]: In December (from November 15 to December 14, 2025): 288 cases of fire and explosion occurred nationwide, causing 7 deaths and 23 injuries, with an estimated loss of 229.8 billion VND, 7.6 times higher than the previous month and 19.4 times higher than the figure of the same period in 2024. In 2025, there were 3,182 cases of fire and explosion nationwide, causing 108 deaths and 135 injuries, with an estimated loss of nearly 548.5 billion VND, recording a year-on-year increase of 13.1%./.

[1] IMF (October 2025), “World Economic Outlook: Global Economy in Flux, Prospects Remain Dim”, https://www.imf.org/en/publications/weo/issues/2025/10/14/world-economic-outlook-october-2025, accessed December 26, 2025.

[2] EU (November 2025), “European Economic Forecast, Autumn 2025”, https://economy-finance.ec.europa.eu/economic-forecast-and-surveys/economic-forecasts/autumn-2025-economic-forecast-shows-continued-growth-despite-challenging-environment_en, accessed December 26, 2025.

[3] FR (December/2025), “Global Economic Outlook – December 2025”,

https://www.fitchratings.com/research/sovereigns/global-economic-outlook-december-2025-03-12-2025, accessed December 26, 2025.

[4] OECD (December 2025), “OECD Economic Outlook, Volume 2025/2: Resilient Growth but with Increasing Fragilities”, https://www.oecd.org/en/publications/oecd-economic-outlook-volume-2025-issue-2_9f653ca1-en.html, accessed December 26, 2025.

[5] Asian Development Bank (ADB) forecasted Vietnam’s growth in 2025 to reach 7.4%. WB and IMF forecasted Vietnam’s growth in 2025 at 6.6% and 6.5%, respectively. OECD forecasted Vietnam’s growth in 2025 to be only 6.2%.

[6] The year-on-year GDP growth rates in the fourth quarter of the years in the period 2011-2025 were 7.05%; 5.99%; 6.38%; 7.29%; 7.38%; 7.49%; 8.18%; 7.78%; 7.52%; 4.69%; 5.23%; 6.26%; 6.76%; 7.51%; and 8.46%, respectively.

^[7] The year-on-year GDP growth rates for the years in the period 2011-2025 were 6.41%; 5.50%; 5.55%; 6.42%; 6.99%; 6.69%; 6.94%; 7.47%; 7.36%; 2.87%; 2.55%; 8.54%; and 4.98%, respectively.

[8] The year-on-year growth rate of value added in the industry for the years in the period 2019-2025 were 8.14%; 3.77%; 4.06%; 8.52%; 2.88%; 8.12% and 8.80%, respectively.

[9] The year-on-year growth rate of value added in the manufacturing for the years in the period 2019-2025 were 9.59%; 4.99%; 5.37%; 8.99%; 3.54%; 9.59% and 9.97%, respectively.

[10] The year-on-year growth rate of value added in the service sector for the years in the period 2011-2025 were 7.65%; 7.03%; 6.82%; 7.31%; 7.05%; 7.46%; 7.12%, 7.46%; 8.08%; 2.01%; 1.75%; 10.66%; 6.81%; 7.36% and 8.62%, respectively.

[11] Tỷ giá trung tâm VND/USD bình quân năm 2025 là 24.976,91 đồng.

[12] The main reason was the continued conversion of a portion of rice land to other crops for higher economic efficiency and non-agricultural land.

[13] Localities transferred land culmination of winter-spring crop from 2024 to 2025 including Vinh Long 6,800 hectares; Ca Mau 4,300 hectares.

[14] Pork price index in six months 2025 showed an increase of 17.85%; the whole year rising 9.99%.

[15] The main reasons were localities accelerated the progress and completed most of reforestation plans of previous quarters, causing the reduction of workloads in the fourth quarter. In addition, the year-end storms in some areas causing slow progress of new reforestation.

[16] The figures released by Ministry of Agriculture and Environment as of December 15, 2025.

[17] Due to numerous storms and tropical depressions affecting marine capture fisheries, and the tightening of sanction for Illegal, Unreported, and Unregulated fishing (IUU) under Decree No. 38/2024/ND-CP.

[18] The year-on-year growth rates of the IIP from 2019 to 2025 were 9.1%, 3.3%, 4.7%, 7.4%, 1.3%, 8.2%, and 9.2%, respectively.

[19]Of which, the additional registered capital of active enterprises in 2025 reached over 4.4 million billion VND, a –year-on-year increase of 118.3%.

[20] To assess the business performance of enterprises in the fourth quarter of 2025, the National Statistics Office conducted a survey of 30,300 enterprises, including: 6,207 enterprises in the manufacturing industry; 6,243 enterprises in the construction industry; and 17,850 enterprises in the trade and service industry, representing 34 provinces and centrally-administered cities.

[21]The third quarter of 2025: 74.9% of enterprises assessed their business performance would be better and remain stable (24.3% better and 50.6% remain stable); 25.1% of enterprises assessed more difficult.

[22]The manufacturing industry in the third quarter of 2025: 77.8% of enterprises assessed their business performance in the third quarter of 2025 would be better and remain stable compared to the second quarter of 2025 (33.6% better and 44.2% remain stable); 22.2% of enterprises assessed more difficult.

[23]Corresponding index of the trade and services sector in the third quarter of 2025: 76.2% of enterprises assessed that the business performance in the third quarter of 2025 would be better and remain stable compared to the second quarter of 2025 (20.4% better and 55.8% remain stable); 23.8% of enterprises assessed more difficult.

[24] Corresponding index of the construction in the third quarter of 2025: 68.6% of enterprises assessed their business performance in the third quarter of 2025 would be better and remain stable compared to the second of 2025 (26.1% better and 42.5% remain stable); 31.4% of enterprises assessed more difficult.

[25]Includes: Architectural activities, technical inspection and analysis; Scientific research and technological development; Advertising and market research; other professional, scientific and technological activities.

[26] According to the report of the Foreign Investment Agency, Ministry of Finance, received on January 3rd, 2026.

[27] FDI in Viet Nam in the years of 2011-2025 were 19.74 billion USD; 22.40 billion USD; 23.18 billion USD; 25.35 billion USD; and 27.62 billion USD, respectively.

[28] Data received from the State Budget Department – Ministry of Finance on December 31, 2025.

[29] Revenue growth was driven by strengthened collection management and inter-agency efforts to curb smuggling and tax evasion. Concurrently, supportive fiscal measures—such as tax cuts and payment deferrals—enabled business recovery, which in turn broadened the national tax base.

[30] Several domestic revenue streams recorded strong performance. Specifically, revenue from housing and land was estimated at 575.5 trillion VND, reaching 196.4% of the annual estimate; this was driven by local authorities’ intensified land auctions and leasing activities, which effectively mobilized land-based resources for the budget. Additionally, revenue from capital recovery, dividends, profits, after-tax profits, and the net income variance of the SBV was estimated at 158.3 trillion VND, reaching 138.0% of the annual estimate, following an increase in dividend payments to the State budget.

[31] In 2025, the government maintained strict spending discipline by cutting overheads and boosting public investment. Furthermore, fiscal resources were secured to implement policies related to organizational restructuring, national defense and security, disaster and epidemic relief, and the fulfilment of social welfare programs.

[32] The value of export turnover was calculated at F.O.B price and import turnover was calculated at C.I.F price (including transportation and insurance costs of imported goods).

[33] The preliminary data of export and import of goods in December 2025 were provided by the Viet Nam Customs on January 3^rd 2026.

[34] Total import and export turnover of goods in 2025 reached 786.93 billion USD, a year-on-year increase of 15.5%, of which export reached 405.94 billion USD, an expansion of 14.4%; import gained 380.99 billion USD, a surge of 16.7%.

[35] The CPI after excluding prices of fresh food, foodstuff, energy, and State-managed goods, which include healthcare and education services.

[36] The main reasons were the prices of food, foodstuff, household electricity, healthcare services, and education services that were the factors contributing to an increase in CPI, but excluded from the calculation of core inflation.

[37] Underemployed persons at working age include employed persons who want to work overtime; are willing to work overtime; and actually work less than 35 hours/week.

[38] Unemployed person is a person aged 15 and over, who, during the reference period, meets all three conditions: currently not working, looking for a job and ready for work. The unemployment rate is the percentage of unemployed persons compared to the labour force.

[39] The labour that is in need of working but their need is not fully met (also known as underutilized labour) includes the unemployed, underemployed, and a group outside the labour force who are willing to work but not actively seeking employment or are seeking employment but not immediately available to start. The labour underutilization rate is the ratio of the labour force that is in need of working but are not fully satisfied to the total labour force that is in need of working in the economy.

[40] According to reports from localities.

[41]https://baochinhphu.vn/thu-tuong-phan-dau-den-ngay-15-1-2026-hoan-thanh-toan-bo-chien-dich-quang-trung-102251230081833884.htm?gidzl=osx49NUsKm7ATSGZTgzM3ybro29jhLO0XdF28ZZw05E78fH-Qwi23TbnbImtgWfSZNBFU6QAxQOLSB5M2G

[42] According to the Ministry of Health’s report.

[43] Several notable events during the year included: The mega music program “The Fatherland in the Hearts,” held on 10 August at the My Dinh National Stadium; The concert “Viet Nam in Me”, took place on 26 August at the Viet Nam National Exhibition Center; The special national artistic program “80 years – The Journey of Independence, Freedom, and Happiness,” staged on the evening of 1 September at the My Dinh National Stadium; The concert “I love the Fatherland” on 15 September; V Fest – Brilliant youth on 9-10 August; and V Fest – Viet Nam Today on 20 September.

[44] According to a quick report from the Office of the Ministry of Public Security and the Viet Nam Maritime and Waterways Administration (Ministry of Construction) dated December 28, 2025.

[45] According to reports compiled by provincial and centrally-run Municipalities Statistics Offices, reporting period from 26 November to 25 December 2025.

[46] According to data compiled by Provincial Statistics Offices from the reports of Provincial Departments of Agriculture and Environment and Provincial, Municipal Police Departments.

[47] According to a quick report from the Ministry of Public Security dated December 23, 2025.