This growth rate met the government’s target, outperformed forecasts from major financial institutions and boosted confidence in Vietnam’s financial markets. FTSE Russell recently upgraded Vietnam to a secondary emerging market, placing it alongside larger economies like China, India, Indonesia, and the Philippines and underscoring growing investor confidence in Vietnam’s economic fundamentals.

Analysts said the strong third-quarter performance reflected a faster-than-expected rebound in exports. The expansion was supported by a mix of rising foreign investment, recovering tourism, and resilient domestic consumption. Vietnam’s manufacturing and export sectors have helped cushion the impact of currency volatility and global economic uncertainty.

Foreign companies continue to shift supply chains to Vietnam, drawn by its steady inflows of foreign direct investment and close trade ties with the United States. With low unemployment and stable consumer spending, Vietnam is emerging as an example of how emerging economies can sustain growth even under currency pressures.

Citi Research projects Vietnam’s GDP to expand by under 8% in 2025, raising its previous forecast. The bank cited rising domestic demand, major infrastructure and administrative reforms, and stronger capital efficiency as key growth drivers.