Workers at a factory in HCM City. — VNA/VNS Photo

HÀ NỘI — Việt Nam’s gross domestic product (GDP) expanded by an estimated 8.46 per cent year on year in the fourth quarter of 2025, marking the highest fourth-quarter growth rate recorded during the 2011–25 period, according to a report from the National Statistics Office (under the finance ministry) released on Monday.

For the full year, GDP is estimated to have grown by 8.02 per cent compared to 2024, the second-highest annual growth rate over the 2011–25 period after 2022. Agriculture, forestry and fisheries expanded by 3.78 per cent, contributing 5.30 per cent to overall growth. Industry and construction rose by 8.95 per cent, accounting for 43.62 per cent, while services grew by 8.62 per cent and contributed 51.08 per cent.

Nguyễn Thị Hương, director general of the NSO, said the sharp acceleration in growth in the fourth quarter helped push full-year GDP growth in 2025 to an estimated 8.02 per cent, second only to the record expansion in 2022 over the entire 2011–25 period.

Analysing the growth structure in greater depth, Hương noted that the economy maintained a firm “quarter-on-quarter acceleration” trend. Specifically, GDP growth rose steadily from 7.05 per cent in the first quarter to 8.16 per cent in the second, 8.25 per cent in the third, and peaked at 8.46 per cent in the fourth quarter.

“This is the outcome of sustained and coordinated efforts to implement tasks and solutions in parallel, despite considerable uncertainties in the international environment,” she said.

In the fourth quarter, agriculture, forestry and fisheries increased by 3.70 per cent, contributing 5.13 per cent to the overall rise in gross value added. Industry and construction posted growth of 9.73 per cent and accounted for 45.80 per cent of total expansion, while services climbed by 8.82 per cent, contributing the remaining 49.07 per cent. On the expenditure side, final consumption rose by 7.15 per cent and gross capital formation by 8.92 per cent, while exports and imports of goods and services surged by 19.34 per cent and 19.40 per cent respectively.

Agricultural production remained stable despite the impact of storms and flooding, supported by timely disaster-response measures. The agriculture sub-sector grew by 3.48 per cent and contributed 3.59 per cent to overall economic expansion. Forestry rose by 5.70 per cent, although its contribution was limited at 0.38 per cent due to its small share, while fisheries expanded by 4.41 per cent, contributing 1.33 per cent.

Industry and construction recorded their strongest performance since 2019. Industrial value added increased by 8.80 per cent, accounting for 35.15 per cent of total growth. Manufacturing and processing rose by 9.97 per cent, the highest rate in the 2019–25 period, and remained the main driver of expansion, contributing 31.49 per cent. Electricity production and distribution grew by 6.39 per cent, water supply and waste management by 7.82 per cent, mining by 0.42 per cent, while construction increased by 9.62 per cent.

The services sector was buoyed by strong growth in trade and tourism, with international visitor arrivals reaching a record high in 2025. Service-sector value added rose by 8.62 per cent, second only to the peak seen in 2022. Wholesale and retail trade grew by 8.52 per cent, contributing 10.62 per cent to overall growth, while transport and warehousing climbed by 10.99 per cent, contributing 8.69 per cent. Financial, banking and insurance services expanded by 7.82 per cent, and accommodation and food services by 10.02 per cent.

Labour productivity across the economy reached an estimated VNĐ245 million per worker, equivalent to US$9,809, an increase of $626 compared to 2024. At constant prices, labour productivity rose by 6.83 per cent, reflecting improvements in workforce quality, with the proportion of trained workers holding certificates or qualifications rising to an estimated 29.2 per cent, alongside sustained economic growth and an expanding economic scale.

The industrial production index in the fourth quarter of 2025 is estimated to have risen by 9.9 per cent year on year, driven mainly by a 10.8 per cent increase in manufacturing and processing. For the whole year, the index is estimated to have grown by 9.2 per cent compared to 2024, up from 8.2 per cent a year earlier. — VNS