Victory time - an excited country (7)
I believe the answer is:
vietnam
'country' is the definition.
(I know that Vietnam is a country)
'victory time an excited' is the wordplay.
'victory' becomes 'v'.
'excited' indicates anagramming the letters.
'time'+'an'='timean'
'timean' is an anagram of 'ietnam'.
'v'+'ietnam'='VIETNAM'
(Other definitions for vietnam that I've seen before include "Country at war with itself from the 1950s to 1970s" , "South-east Asia country" , "former war zone" , "Far Eastern country" , "Asian country, divided north and south from 1954 to 1975" .)