Phuc Khanh Industrial Park in Hung Yen province (Photo: The Duyet/ VNA)

This growth rate far exceeds Bloomberg’s forecast of 6.85% and UOB’s previous estimate of 6.1%.

In the first six months of 2025, Vietnam’s economy expanded 7.52%, the strongest first-half growth since 2011. UOB attributed this outstanding performance to a 14% year-on-year surge in exports, driven by accelerated shipments ahead of expected tariff changes.

This export boost came in the wake of US President Trump’s decision to withdraw plans for new tariffs, instead implementing a uniform 10% tariff rate across all trading partners during a 90-day negotiation window.

UOB forecasts that Vietnam's export will continue its upward trend. The bank has indicated plans to revise its GDP growth forecast for Vietnam this year.