AsemconnectVietnam - In November of 2025, Vietnam's basic economic indicators such as inflation rate, FDI attraction, trade surplus and industrial output all recorded increases.

Inflation in November increased by nearly 4%
Vietnam’s annual inflation rate rose to 3.58% in November of 2025, the highest since January, up from 3.25% in October. The main upward pressure came from faster food inflation (3.29% vs 2.09% in October), driven by higher prices of foodstuffs (3.85% vs 1.96%) and meals and drinks eaten out (4.05% vs 3.96%). Inflation also went up for household goods and equipment (1.78% vs 1.69%) and for medicines and healthcare services (12.65% vs 12.63%), while transport costs rebounded (1.11% vs -0.02%).
In contrast, price growth eased for garments, hats, and footwear (1.41% vs 1.50%), beverages and cigarettes (2.20% vs 2.36%), and housing and construction materials (5.73% vs 6.76%). Meanwhile, core inflation, which excludes volatile items, slightly eased to 3.28% from 3.30% in October. On a monthly basis, consumer prices rose by 0.45%, the largest increase in five periods, accelerating from a 0.20% gain in October.
FDI into Vietnam rises 8.9% in 11 months of 2025
Foreign direct investment (FDI) in Vietnam increased 8.9% year-on-year to USD 23.6 billion from January to November 2025, marking the highest level for the eleven months in the past five years. The processing and manufacturing industry attracted USD 19.56 billion, accounting for 82.9% of total realized FDI; real estate business activities recorded USD 1.67 billion (7.1%); and the production and distribution of electricity, gas, hot water, steam, and air conditioning registered USD 754.9 million (3.2%).
Meanwhile, FDI pledges, an indicator of future disbursements, rose 7.4% to USD 33.69 billion, reflecting investors’ confidence in Vietnam’s long-term economic prospects. Among the 88 countries and territories with newly licensed investment projects in Vietnam during the period, Singapore was the largest investor with USD 4.29 billion, accounting for 26.9% of newly registered capital, followed by China (21.3%), Hong Kong (10.4%), and Japan (9.8%).
Vietnam retail sales rise the least in 11 months
Vietnam’s retail sales rose 7.1% year-on-year in November of 2025, easing slightly from a 7.2% increase in the previous month and marking the slowest pace of growth since October of 2024. The moderation was due to softer gains in accommodation and food services (13.6% vs. 14.1%) and other services (7.2% vs. 9.4%). In contrast, growth strengthened in goods sales (6.0% vs. 5.7%) and tourism-related activities (19.1% vs. 18.8%). For the 11 months of 2025, retail turnover increased 9.1% from the same period a year earlier.
Vietnam trade surplus increased slightly
Vietnam’s trade surplus stood at 1.09 billion USD in November of 2025, compared to 1.06 billion USD in the same month of 2024. Exports rose 15.1% year-on-year to 39.07 billion USD, while imports increased 16.0% to 37.98 billion USD. In the first eleven months of 2025, Vietnam recorded a cumulative trade surplus of 20.53 billion USD, with exports and imports climbing by 16.1% and 18.4%, respectively. During this period, shipments of processed industrial goods totaled 381.72 billion USD, accounting for 88.7% of total exports.
The US remained Vietnam’s largest export market, with turnover reaching 138.6 billion USD. Meanwhile, production materials amounted to 383.96 billion USD, representing 93.7% of total imports, with China remaining the country’s top source of imports. In July, the US and Vietnam signed a trade agreement under which the US will impose a 20% tariff on imports from Vietnam. In 2024, shipments to the US accounted for approximately 30% of Vietnam’s GDP.
Vietnam industrial output grew for 10th month
Vietnam’s industrial production grew 10.8% year-on-year in November of 2025, accelerating slightly from a downwardly revised 10.4% increase in the previous month. It marked the 10th consecutive month of expansion, driven by stronger growth in mining and quarrying (7.0% vs. 6.1% in October) and manufacturing (11.8% vs. 11.0%). In contrast, growth slowed in electricity and heat distribution (5.8% vs. 9.2%) as well as water supply, waste management, and wastewater treatment activities (6.5% vs. 7.8%). On a monthly basis, industrial production increased 2.2%. Over the first 11 months of 2025, industrial output expanded 9.3% compared with the same period a year earlier.
CK
Source: VITIC/tradingeconomics.com