Vietnam Socio-Economic Statistics Quarter I/2025

I. RATE OF INCREASE IN GROSS DOMESTIC PRODUCT

Vietnam's Gross Domestic Product (GDP) in Quarter I/2025 is estimated to increase by 6.93% year-on-year, achieving the highest growth rate compared to the first quarters of previous years in the 2020-2025 period. Among which:

• The agriculture, forestry, and fishing sector increased by 3.74%, contributing 6.09% to the total added value increase of the entire economy
• The industry and construction sector increased by 7.42%, contributing 40.17%
• The service sector increased by 7.70%, contributing 53.74%.

The agriculture, forestry, and fisheries sector achieved its set growth target in Quarter I, with significant increases in the harvested output of some perennial crops, exploited timber production, and aquaculture output, thanks to the application of advanced techniques and technology meeting the demands of both the domestic and export markets. 

The added value of the agriculture sector in Quarter I/2025 increased by 3.53% year-on-year, contributing 0.32 percentage points to the increase in the total added value of the entire economy; the forestry sector grew by 6.67%, but due to its low proportion, it only contributed 0.03 percentage points; the fisheries sector increased by 3.98%, contributing 0.09 percentage points.

In the industry and construction sector, industrial production continued to show positive signs. The added value of the entire industrial sector in Quarter I/2025 increased by 7.32% year-on-year (compared to an increase of 6.71% in the same period last year), contributing 2.39 percentage points to the increase in the total added value of the entire economy. The manufacturing industry is the growth driver of the entire economy with an increase rate of 9.28%, contributing 2.33 percentage points; the electricity production and distribution sector increased by 4.60%, contributing 0.18 percentage points; the water supply, waste management and treatment sector increased by 8.81%, contributing 0.05 percentage points; the mining industry alone decreased by 5.76%, reducing the overall growth by 0.17 percentage points. The construction industry saw an increase of 7.99%, which is higher than the 7.57% growth recorded in the first quarter of 2024, and contributed 0.48 percentage points.

In the service sector, the high consumer demand during the Lunar New Year and the large number of international tourists visiting Vietnam contributed to the fairly high growth rate achieved by the trade and service sectors. The contribution of several service sectors to the total added value growth of the entire economy in the first quarter of this year is as follows: 

• The transportation and warehousing sector increased by 9.90% compared to the same period last year, contributing 0.67 percentage points
• Accommodation and food services increased by 9.31%, contributing 0.27 percentage points
• The wholesale and retail sector increased by 7.47%, contributing 0.83 percentage points
• Financial, banking, and insurance activities increased by 6.83%, contributing 0.41 percentage points
• The information and communication sector increased by 6.66%, contributing 0.45 percentage points

Regarding the economic structure in the first quarter of 2025:

• The agriculture, forestry, and fishery sector accounted for 11.56%
• The industry and construction sector accounted for 36.31%
• The service sector accounted for 43.44%; and product taxes less product subsidies accounted for 8.69%.

Regarding the use of GDP in the first quarter of 2025, final consumption increased by 7.45% compared to the same period last year, gross capital formation increased by 7.24%, exports of goods and services increased by 9.71%, and imports of goods and services increased by 12.45%

II. AGRICULTURE, FORESTRY AND FISHERIES PRODUCTION

a. Agriculture

• Winter-spring rice: As of March 20, 2025, the entire country has planted 2,949.4 thousand hectares of winter-spring rice, an increase of 17.2 thousand hectares compared to the 2024 winter-spring crop. Specifically, in the Mekong Delta region, 1,508.3 thousand hectares were planted, an increase of 20.7 thousand hectares; the harvested area reached 1,060.3 thousand hectares, accounting for 70.3% of the planted area and equivalent to 105.3% of the same period last year; the estimated yield reached 72.0 quintals/hectare, a decrease of 0.3 quintals/hectare compared to the previous winter-spring crop; the estimated output reached 10.9 million tons, an increase of 109 thousand tons.
• Autumn rice: As of March 20, 2025, the Mekong Delta region had completed the harvest of the 2024-2025 main rice crop with a planted area of 191.8 thousand hectares, an increase of 8.7 thousand hectares compared to the previous main crop; the estimated yield reached 52.7 quintals/hectare, a decrease of 0.6 quintals/hectare; the estimated output reached 1.0 million tons, an increase of 35.4 thousand tons.
• Annual crops: As of March 20, 2025, the planting progress of some winter-spring annual crops such as various types of beans and corn increased compared to the same period last year; the area of peanuts, sweet potatoes, and soybeans decreased mainly due to low economic efficiency.
• Perennial crops: The harvested output of some perennial crops in the first quarter of 2025 increased compared to the same period last year thanks to favorable weather, along with the effective application of scientific and technical measures, and increased investment in care.
• Animal husbandry: Buffalo and cattle farming tends to decrease; pig and poultry farming is developing well. The total number of pigs in the entire country is estimated to have increased by 3.3% by the end of March 2025 compared to the same time in 2024; the total number of poultry increased by 3.2%; the total number of cattle decreased by 0.1%; and the total number of buffalo decreased by 3.5%.

b) Forestry

The area of newly concentrated planted forest nationwide in March 2025 is estimated to reach 24.5 thousand hectares, an increase of 24.1% compared to the same period last year

• The number of scattered forest trees planted reached 10.8 million trees, an increase of 1.7%
• The harvested timber output reached 1,684.7 thousand cubic meters, an increase of 13.1%
• The area of damaged forest was 69.2 hectares, a decrease of 57.7%.

In the first quarter of 2025, the area of newly concentrated planted forest nationwide is estimated to reach 45.6 thousand hectares, an increase of 17.8% compared to the same period last year

• The number of scattered forest trees planted is estimated to reach 24.2 million trees, an increase of 4.4%
• The harvested timber output is estimated to reach 4,346.0 thousand cubic meters, an increase of 16.6%
• The damaged forest area was 216.0 hectares, a decrease of 14.4%.

c) Fisheries

The aquaculture/fisheries output in March 2025 is estimated to reach 750.5 thousand tons, an increase of 3.5% compared to the same period last year, of which:

• The farmed aquaculture/fisheries output is estimated to reach 421.4 thousand tons, an increase of 5.3%
• The wild-caught aquaculture/fisheries output is estimated to reach 329.1 thousand tons, an increase of 1.2%.

In the first quarter of 2025, the aquaculture/fisheries output is estimated to reach 1,993.4 thousand tons, an increase of 2.8% compared to the same period last year, including:

• Fish reaching 1,480.3 thousand tons, up 2.9%
• Shrimp reaching 202.4 thousand tons, up 4.6%
• Other aquatic products reaching 310.7 thousand tons, up 1.5%.

III.INDUSTRIAL PRODUCTION 

• The Index of Industrial Production (IIP) in the first quarter of 2025 is estimated to increase by 7.8% compared to the same period last year (the first quarter of 2024 increased by 5.9%), in which, the manufacturing industry increased by 9.5% (the first quarter of 2024 increased by 6.0%), contributing 7.9 percentage points to the overall increase. The electricity production and distribution sector increased by 4.6%, contributing 0.4 percentage points; the water supply, waste and wastewater management and treatment activities sector increased by 11.6%, contributing 0.2 percentage points; the mining and quarrying sector decreased by 4.7%, reducing it by 0.7 percentage points.
• The Index of Industrial Production in the first quarter of 2025 compared to the same period last year increased in 59 localities and decreased in 4 localities nationwide.
• The consumption index of the entire manufacturing industry in the first quarter of 2025 increased by 5.4% compared to the same period in 2024 (the same period in 2024 increased by 8.2%).
• The inventory index of the entire manufacturing industry is estimated to have increased by 5.9% as of March 31, 2025, compared to the same time last month, and increased by 15.1% compared to the same time last year (the same time last year increased by 14.1%). The average inventory rate of the entire manufacturing industry in the first quarter of 2025 is 90.0% (the average in the first quarter of 2024 was 68.7%).
• The number of employees working in industrial enterprises as of March 1, 2025, increased by 1.1% compared to the same time last month and increased by 4.8% compared to the same time last year

IV. OPERATIONS OF THE BUSINESS

a) Business registration status

• In March, the whole country had more than 15.6 thousand newly established businesses, an increase of 54.2% compared to the previous month and an increase of 3.4% compared to the same period last year; There were more than 9.1 thousand businesses returning to operation, an increase of 29.3% and more than 3 times; There were 4,392 businesses temporarily suspending operations for a limited period, an increase of 23.6% compared to the previous month and an increase of 6.1% compared to the same period last year; there were 4,899 businesses temporarily ceasing operations awaiting dissolution procedures, an increase of 64.9% compared to the previous month and a decrease of 1.6% compared to the same period last year; and there were 2,137 businesses completing dissolution procedures, an increase of 23.0% compared to the previous month and an increase of 54.4%.
• Overall in the first quarter of 2025, the whole country had more than 72.9 thousand businesses registered for new establishment and returning to operation, an increase of 18.6% compared to the same period last year; on average, one month had more than 24.3 thousand businesses registered for new establishment and returning to operation. The number of businesses withdrawing from the market was 78.8 thousand, an increase of 7.0% compared to the same period last year; on average, one month had nearly 26.3 thousand businesses withdrawing from the market.

b) Business trends of companies

According to the survey results on business trends of enterprises in the processing and manufacturing industry in the first quarter of 2025, 1  the number of companies assessing their production and business situation as better compared to the fourth quarter of 2024 was low, at only 24.1%. However, it is projected that in the second quarter of 2025, 45.8% of companies anticipate the trend will improve compared to the first quarter of 2025.

V. SERVICE ACTIVITIES

The total retail sales of goods and consumer service revenue at current prices in March 2025 was estimated to reach 570.9 trillion VND, an increase of 1.7% compared to the previous month and an increase of 10.8% compared to the same period last year. Overall in the first quarter of 2025, the total retail sales of goods and consumer service revenue at current prices was estimated to reach 1,708.3 trillion VND, an increase of 9.9% compared to the same period last year. If the price increase factor is excluded, the increase is 7.5%.

Passenger transport in March 2025 was estimated to reach 479.4 million passenger trips, an increase of 20.1% compared to the same period last year, and a turnover of 25.8 billion passenger-kilometers, an increase of 12.5% compared to the same period last year. Overall in the first quarter of 2025, passenger transport was estimated to reach 1,414.2 million passenger trips, an increase of 17.6% compared to the same period last year, and a turnover reaching 77.7 billion passenger-kilometers, an increase of 14.7% compared to the same period last year. Freight transport in March 2025 was estimated to reach 242.2 million tons of goods transported, an increase of 16.4% compared to the same period last year, and a turnover of 45.5 billion ton-kilometers, an increase of 15.4% compared to the same period last year. Overall in the first quarter of 2025, freight transport was estimated to reach 715.8 million tons of goods transported, an increase of 15.4% compared to the same period last year, and a turnover of 138.6 billion ton-kilometers, an increase of 8.9% compared to the same period last year.

Telecommunications revenue in the first quarter of 2025 at current prices was estimated to reach 94.7 trillion VND, an increase of 5.1% compared to the same period last year (if the price increase factor is excluded, the increase is 4.6%).

International visitors to Vietnam in March 2025 reached more than 2.05 million arrivals, an increase of 28.5% compared to the same period last year. Overall in the first quarter of 2025, international visitors to Vietnam reached more than 6 million arrivals, an increase of 29.6% compared to the same period last year, and this is the highest number of visitors to our country in a single quarter to date; the number of Vietnamese citizens departing the country reached 2.7 million departures, 2.2 times higher than the same period last year.

VI. DEVELOPMENT INVESTMENT

• Realized total social investment capital in the first quarter of 2025 at current prices was estimated to reach 666.5 trillion VND, an increase of 8.3% compared to the same period last year.
• Total registered foreign direct investment into Vietnam as of March 31, 2025, reached 10.98 billion USD, an increase of 34.7% compared to the same period last year.
• Realized foreign direct investment in Vietnam in the first three months of 2025 was estimated to reach 4.96 billion USD, an increase of 7.2% compared to the same period last year.
• Vietnam's outbound investment in the first three months of 2025 saw 30 newly licensed projects with a total capital of 233.6 million USD from the Vietnamese side, 9.4 times higher than the same period last year; there were also 05 instances of projects with capital adjustments, increasing the adjusted capital by 5.4 million USD, 24.3 times higher than the same period last year. Overall, Vietnam's total outbound investment (newly granted and adjusted capital) reached nearly 239 million USD, 9.5 times higher than the same period last year.

VII. STATE BUDGET REVENUE AND EXPENDITURE

Total State budget revenue in March 2025 was estimated to reach 189.7 trillion VND. The accumulated total State budget revenue in the first quarter of 2025 reached 721.3 trillion VND, equivalent to 36.7% of the annual estimate and an increase of 29.3% compared to the same period last year.
Total State budget expenditure in March 2025 was estimated to reach 148.1 trillion VND; the accumulated expenditure in the first quarter of 2025 was estimated to reach 428.2 trillion VND, equivalent to 16.8% of the annual estimate and an increase of 11.6% compared to the same period last year.

VIII. EXPORT AND IMPORT OF GOODS AND SERVICES

a) Export and import of goods

In March, the total value of exported and imported goods reached 75.39 billion USD, an increase of 18.2% compared to the previous month and an increase of 16.6% compared to the same period last year. Overall in the first quarter of 2025, the total value of exported and imported goods reached 202.52 billion USD, an increase of 13.7% compared to the same period last year, of which exports increased by 10.6%; imports increased by 17.0%. The trade balance of goods showed a surplus of 3.16 billion USD.

Goods exports: The value of goods exports in March 2025 reached 38.51 billion USD, an increase of 23.8% compared to the previous month and an increase of 14.5% compared to the same period last year. Tính chung quý I/2025, kim ngạch xuất khẩu hàng hóa đạt 102,84 tỷ USD, tăng 10,6% so với cùng kỳ năm trướcOverall in the first quarter of 2025, the value of goods exports reached 102.84 billion USD, an increase of 10.6% compared to the same period last year. Of which, the domestic economic sector reached 29.02 billion USD, an increase of 15.0% and accounting for 28.2% of the total export value; the foreign-invested sector (including crude oil) reached 73.82 billion USD, an increase of 9.0% and accounting for 71.8%.

Regarding the structure of exported goods groups in the first quarter of 2025, the group of manufactured goods reached 90.92 billion USD, accounting for 88.4%.

Goods imports: The value of goods imports in March 2025 reached 36.88 billion USD, an increase of 12.9% compared to the previous month and an increase of 19.0% compared to the same period last year. Overall in the first quarter of 2025, the value of goods imports reached 99.68 billion USD, an increase of 17.0% compared to the same period last year, of which the domestic economic sector reached 36.78 billion USD, an increase of 19.3%; the foreign-invested sector reached 62.9 billion USD, an increase of 15.8%.

b) Export and import of services

In the first quarter of 2025, the value of service exports was estimated to reach 7.58 billion USD, an increase of 21.7% compared to the same period last year; the value of service imports was estimated to reach 9.22 billion USD (of which, the cost of transportation and insurance services for imported goods is accounted for at 3.16 billion USD), an increase of 18.0%. The service trade deficit in the first quarter of 2025 was 1.64 billion USD.

IV. CONSUMER PRICE INDEX, GOLD PRICE INDEX, AND US DOLLAR PRICE INDEX

• The Consumer Price Index (CPI) in March 2025 decreased by 0.03% compared to the previous month; increased by 1.3% compared to December 2024; and increased by 3.13% compared to the same period last year. Overall in the first quarter of 2025, the CPI increased by 3.22% compared to the same period last year; core inflation increased by 3.01%.
• The Gold Price Index in March 2025 increased by 4.68% compared to the previous month; increased by 32.68% compared to the same period last year; increased by 10.75% compared to December 2024; on average in the first quarter of 2025, the Gold Price Index increased by 31.45%.
• The US Dollar Price Index in March 2025 increased by 0.77% compared to the previous month; increased by 3.4% compared to the same period last year; increased by 0.92% compared to December 2024; on average in the first quarter of 2025, the US Dollar Price Index increased by 3.63%.

Source: gso.gov.vn/bai-top/2025/04/bao-cao-tinh-hinh-kinh-te-xa-hoi-quy-i-nam-2025