Standard Chartered lifts Vietnam’s 2025 growth outlook to 7.5% on strong trade
Standard Chartered Bank has raised Vietnam’s growth forecast, highlighting the country’s strong trade performance, resilient investment inflows and stable macroeconomic outlook.
THE HANOI TIMES — Standard Chartered Bank has projected that Vietnam’s economy will expand by 7.5% in 2025, citing strong export performance, resilient foreign investment, rising credit growth and stable macroeconomic outlook as key drivers amidst global supply chain diversification.
In its latest economic report, the global financial institution lifted its forecast for Vietnam’s 2025 growth from 6.1% and raised its 2026 projection to 7.2% from 6.2%. Standard Chartered Bank also predicted that inflation will stay moderate at 3.4% in 2025 and 3.7% in 2026, reflecting firm growth and easing price pressures.
Vietnam continues to strengthen its position in the global supply chain, supported by solid export momentum. Photo: Standard Chartered Bank
Tim Leelahaphan, Senior Economist for Vietnam and Thailand at Standard Chartered, said that Vietnam continues to strengthen its position in global supply chains, supported by solid export momentum.
“Vietnam’s resilience and adaptability are clear in its strong FDI inflows and robust export growth. These factors reinforce its strategic role in supply chain diversification and point to strong prospects for sustained expansion,” he said.
In September 2025, exports reached US$42.7 billion, up 24.7% year-on-year. Electronics and computers rose 66.2%, telephones increased 17.5%, and machinery grew 11.6%.
Imports climbed 24.9% to $39.8 billion, driven by electronic components and machinery, showing continued industrial expansion.
Vietnam’s strong trade performance and deeper integration through free trade agreements have strengthened its resilience and global competitiveness.
The bank expects the USD/VND exchange rate to remain stable at 26,300 dong in 2025 and 26,750 dong in 2026, reflecting a steady foreign exchange outlook.
Credit growth has risen more than 15% year-on-year, showing stronger business confidence and higher capital demand, even without additional policy rate cuts. The refinancing rate will likely stay at 4.5% through 2026 to support investment and recovery.
Foreign direct investment continues to fuel Vietnam’s growth. Disbursed FDI reached $18.8 billion in the first nine months of 2025, up 8.5% year-on-year, while pledged FDI increased 15.2% to $28.5 billion.
According to the bank, these figures show growing investor confidence in Vietnam’s manufacturing capacity and its expanding role in global supply chains.
