Speaking at the Ho Chi Minh City Business Association’s (HUBA) summary conference yesterday, participants highlighted the expanding potential of Vietnam’s export market amid deeper global integration. Nguyen Ngoc Hoa, Chairman of HUBA, said Vietnam’s total import–export turnover in 2025 is estimated at approximately US$920 billion, up 17 percent from the previous year, officially placing the country among the world’s top 25 economies by trade value.
The year 2025 marks a major breakthrough for the Vietnamese economy, with gross domestic product projected to reach around $510 billion for the first time and growth exceeding 8 percent. Per capita income is expected to surpass $5,000, which is about 1.4 times higher than in 2020, confirming Vietnam’s entry into the upper middle income group.
From a local perspective, Le Huynh Minh Tu, Deputy Director of the Ho Chi Minh City Department of Industry and Trade, said the city closed 2025 with a GRDP growth rate of 8.03 percent, continuing to affirm its role as the nation’s economic engine. He noted that this performance was driven in large part by the contribution of more than 500,000 businesses operating in the city.
The World Bank's income classification divides countries into four categories based on their gross national income (GNI) percapita. As per the WB’s income classification, upper middle income countries are those with a GNI per capita between $4,496 and $13,935.
