Chinese outlet Time Weekly recently reported that Vietnam has released new official economic data showing third-quarter GDP growth of 8.23 percent year-on-year. Prime Minister Pham Minh Chinh told the National Assembly that Vietnam’s full-year GDP growth in 2025 is expected to reach eight percent.
Vietnam’s rapid expansion continues to be driven primarily by its manufacturing sector. The government aims for 10 percent GDP growth next year. Earlier, the United States announced that it had signed a tariff framework agreement with Vietnam under which U.S. import tariffs on Vietnamese goods will average around 20 percent, though certain products will be exempt.
Manufacturing remains the standout engine of growth: according to the Vietnam General Statistics Office, manufacturing output rose 9.92 percent year-on-year from January to September. However, growth in the construction and service sectors has slowed compared with the second quarter.
Meanwhile, India, once the fastest-growing major economy in Asia, is facing growing pressure from recent U.S. tariff measures. India’s merchandise exports fell 11.8 percent in October, and relations with Washington have been strained since the U.S. imposed 50 percent tariffs on Indian goods in August. The two sides have yet to reach an agreement.
The Reserve Bank of India forecasts GDP growth of 6.8 percent for fiscal year 2025–2026, while the Ministry of Finance projects 6.3–6.8 percent. With exports shrinking and imports rising, India’s trade deficit surged to a record US$41.68 billion in October, far higher than economists’ expectations of US$30 billion. In response, the Modi government has announced over US$5 billion in relief measures for exporters.
Separately, India’s state-owned oil company signed its first-ever procurement deal with the United States to import roughly 2.2 million tons of liquefied petroleum gas (LPG) per year.
Source: Time Weekly, November 20, 2025
https://time-weekly.com/wap-article/325424