Việt Nam tops ASEAN in consumer sentiment: UOB report

Việt Nam tops ASEAN in consumer sentiment: UOB report

The study, covering 5,000 respondents in Indonesia, Malaysia, Singapore, Thailand and Việt Nam, found that Việt Nam’s consumer sentiment led the region with 67 points, up three points from last year.

Consumers shop at a supermarket in HCM City. Việt Nam’s consumer sentiment led the region with 67 points, up three points from last year, according to the UOB ASEAN Consumer Sentiment Study 2025. — VNA/VNS Photo Hương Giang

Major ASEAN economies have continued to show resilience despite the uncertain macroeconomic environment, with Việt Nam standing out as the most optimistic market in the region, according to a survey released by Singapore-based United Overseas Bank (UOB) earlier this week.

According to the UOB ASEAN Consumer Sentiment Study 2025, the ASEAN Consumer Sentiment Index rose one point from last year to 54. The study, covering 5,000 respondents in Indonesia, Malaysia, Singapore, Thailand and Việt Nam, found that Việt Nam’s consumer sentiment led the region with 67 points, up three points from last year.

Indonesia followed at 55 points, down three points, while Malaysia posted the strongest increase, gaining 11 points to 53. Singapore and Thailand both stood at 47, with Singapore recording the sharpest decline of 10 points after the US tariff announcements in April rattled financial markets.

More than half of consumers in the region are positive about the economic, political and social stability in their country, with 60 per cent of respondents upbeat about economic stability, 57 per cent about political stability and 61 per cent about social stability. Việt Nam recorded the highest scores of 83 per cent, 82 per cent and 81 per cent, respectively.

The report also found that financial and environmental concerns dominate in the region. The increased cost of living due to inflation was the top concern, followed by climate change and US tariffs. More than half of respondents anticipate that inflation will erode their purchasing power, prompting more cautious spending, though a smaller proportion plan major cutbacks.

As for digital payments, the report pointed out that e-wallets and scan-to-pay are the top products used across the region, with e-wallets being more dominant in Việt Nam and Indonesia than in other markets.

In terms of savings, a majority of consumers across ASEAN have an emergency fund, with 58 per cent having enough to cover at least 3-6 months of expenses. However, Việt Nam recorded a lower score of 57 per cent.

The index was introduced this year, though UOB has conducted its ASEAN consumer sentiment report for six consecutive years. 

Bizhub