Vietnam’s economic growth is expected to slow to 6.5% this year, down from 7.09% in 2024, due to the impact of U.S. tariffs, the International Monetary Fund said Tuesday.
The multilateral lender warned that “downside risks are high,” citing the unwinding of temporary government stimulus and potential fallout from escalating global trade tensions or tighter financial conditions.
Such developments, it noted, could further dampen exports and investment.
The outlook suggests continued pressure on Vietnam’s export-driven economy amid shifting global trade dynamics and policy headwinds.
In Q2, Vietnam’s GDP grew robustly by 7.96% yoy, accelerating from a 6.93% rise in Q1 and marking the fastest pace since Q3 2022, with all major sectors like services, industry, and agriculture all posting stronger expansion.