Vietnam Celebrates New Milestone: Surprising Contributions from China, India, and Russia

According to the General Statistics Office, Vietnam’s socio-economic landscape in October and the first 10 months of 2025 has shown numerous positive signs. Notably, industrial production maintained a robust growth rate, with the Industrial Production Index (IIP) in October estimated to increase by 10.8% compared to the same period last year. The manufacturing sector saw a 11.4% rise, marking the highest growth rate for October in the past 8 years. Overall, the IIP for the first 10 months of 2025 grew by 9.2% year-on-year, with manufacturing up by 10.5%, the highest 10-month growth rate between 2020 and 2025.

State budget investment disbursement over the past 10 months reached an unprecedented scale, while foreign investment attraction showed promising signs, indicating continued confidence from international investors in Vietnam’s economic development.

State budget investment disbursement for the first 10 months of 2025 is estimated at VND 640.2 trillion, equivalent to 63.1% of the annual plan and up 27.8% year-on-year (compared to 64.1% and 2.8% growth in the same period last year). This marks the highest-ever 10-month state budget investment disbursement and the fastest growth rate in the last 5 years.

As of October 31, 2025, total registered foreign investment capital in Vietnam reached USD 31.52 billion, a 15.6% increase year-on-year. Actual foreign investment disbursement hit USD 21.3 billion, up 8.8%, the highest 10-month disbursement rate between 2021 and 2025.

In October, Vietnam welcomed 1.73 million international visitors, up 13.8% month-on-month and 22.1% year-on-year (the highest year-on-year growth rate in recent years). For the first 10 months of 2025, Vietnam received nearly 17.2 million international visitors, a 21.5% increase compared to the same period in 2024.

Air travel accounted for 14.6 million visitors, or 84.9% of total international arrivals, up 21.8% year-on-year; land travel saw 2.4 million visitors, or 13.9%, up 21.4%; and sea travel had 205,100 visitors, or 1.2%, up 8.5%.

In October, Russia saw the most significant increase in visitors to Vietnam, with over 66,500 arrivals, a 361% surge compared to the same period last year. Other markets also experienced strong growth, including India (170%), the Philippines (168%), Cambodia (149%), and China (142%).

China led in visitor numbers to Vietnam in October, with over 433,000 arrivals, accounting for approximately 25% of the total. South Korea followed with over 360,000 visitors (about 21%), then Taiwan (China) with over 106,000, and Russia with over 66,500.

The October 2025 Socio-Economic Report highlights that favorable visa policies, enhanced tourism promotion programs, and events celebrating national holidays, along with the International Convention on Cybercrime held in Hanoi on October 25-26, 2025, have significantly boosted international visitor numbers to Vietnam.

Regarding trade, October’s total import-export turnover reached USD 81.49 billion, down 1.2% month-on-month but up 17.2% year-on-year. For the first 10 months of 2025, total trade turnover hit USD 762.44 billion, a 17.4% increase year-on-year, with exports up 16.2% and imports up 18.6%. The trade balance recorded a USD 19.56 billion surplus.

In terms of exports, October’s turnover reached USD 42.05 billion, down 1.5% month-on-month but up 17.5% year-on-year. For the first 10 months of 2025, export turnover was USD 391.0 billion, a 16.2% increase year-on-year. The domestic economic sector contributed USD 94.17 billion, unchanged from the previous month and accounting for 24.1% of total exports; the foreign-invested sector (including crude oil) reached USD 296.83 billion, up 22.5%, making up 75.9%. Processed industrial goods dominated exports, with USD 346.73 billion, or 88.7% of the total.

For imports, October’s turnover was USD 39.45 billion, down 1.0% month-on-month but up 16.8% year-on-year. In the first 10 months of 2025, import turnover reached USD 371.44 billion, an 18.6% increase year-on-year. The domestic economic sector imported USD 117.0 billion, up 2.8%; the foreign-invested sector imported USD 254.44 billion, up 27.6%. Production materials led imports, with USD 348.23 billion, or 93.8% of the total.

The United States remained Vietnam’s largest export market in the first 10 months of 2025, with a turnover of USD 126.2 billion. China was Vietnam’s largest import market, with a turnover of USD 150.9 billion.

Preliminary data shows a USD 2.6 billion trade surplus in October. For the first 10 months of 2025, the trade surplus was USD 19.56 billion (compared to USD 23.18 billion in the same period last year). The domestic economic sector recorded a USD 22.83 billion trade deficit, while the foreign-invested sector (including crude oil) saw a USD 42.39 billion surplus.