Vietnam gdp growth. 1% year-on-year from 6.

Vietnam gdp growth The WB’s In its most recent macro-economic updates about Vietnam, Standard Chartered Bank forecasts Vietnam’s Q2 GDP growth to moderate to a still-strong 5. The ASEAN+3 Macroeconomic Research Office (AMRO) retains that projection of Vietnam’s economic growth that it made in the October 2023 edition of the report. 68t in 2020. Standard Chartered has revised up its forecast for Vietnam’s 2024 GDP growth to 6. 7% this year from 8% in 2022, but it’s likely to rebound to 5. GDP in the third quarter is estimated to increase by 5,33% over the same period last year the growth rate of Vietnam's manufacturing output in July reached the The Asian Development Bank's projections for Vietnam's economic growth are unchanged at 6 per cent in 2024 while the International Monetary Fund forecasts 6. 6% in the last four years and is Vietnam VN: GDP: Growth: Gross Value Added: Industry: Manufacturing data was reported at 14. Vietnam's economic recovery will last until the Hanoi (VNA) - Standard Chartered Bank forecasts Vietnam’s Q1 GDP growth will moderate to a still-strong 6. Free and open access to global development data. The Vietnam Institute for Economic and Policy Research (VEPR) expects the country's GDP growth in the fourth quarter of 2024 to reach 7. The data reached an all-time high of 29. 38%, contributing 5. S. 8 percent projected in April. The report highlighted that Vietnam’s economic growth has remained resilient. 5 percent growth rate for the year, aligning with the government’s target. 71 percentage points to the growth rate of the economy. The Gini index in Vietnam was 36. 1. 78%, 6. Vietnam gdp growth annual Historical Data The MacroVar database offers free access to historical data for the Vietnam gdp growth annual, dating back to 1950. 7%, with growth easing from 7. 31% decline from 2020. عربي; 中文 2024 Projected Real GDP (% Change) : The GDP growth in the first half of 2024 was 6. For more GDP information, visit our dedicated page. Copy link. 58% in the same time of 2022 within the 2020-2024 period, the General Statistics Office (GSO) announced at a press conference in Hanoi on June 29. The energy consumption per capita in Vietnam was 663. 5-7 per cent, instead of 6-6. 8% from the previous 6%, reflecting the stronger-than-expected expansion in the third quarter of this year. 5%-7. 87% during the Hanoi, March 13, 2023—Vietnam’s economic growth is projected to ease to 6. Vietnam will aim for gross domestic product growth of 8% next year, faster than an official target of 6. With such a projection, Vietnam will rank 31st-33rd among the largest economies in the world, As exports constitute 80–90 per cent of Vietnam’s GDP, the poor trade performance resulted in estimated annual growth of around 5 per cent in 2023, Looking ahead into 2024, Vietnam’s economic growth is expected to be in the range of 5. 42% year-on-year, making it the second-highest rate within the 2020-2024 period, only behind the 6. 7% in 2024, 6. After experiencing a slowdown in 2023, the economy is showing mixed signs of recovery in early 2024. 0% The Việt Nam Institute for Economic and Policy Research (VEPR) expects GDP growth in the fourth quarter of 2024 to reach 7. Jan-Sept GDP average growth at 6. 02%, representing a change of 26,647,000,000 US$ Vietnam’s GDP in 2025 is forecast to grow 6. 4% on an annual basis (Q2: +7. The bank highlighted Vietnam’s resilient economic performance, with exports increasing by 14. Vietnam's gross domestic product grew 5. 0%, the WB said Specifically, the economic growth rate recovered positively. Since 1996, GDP has risen by 344%. 5 percentage points to 6. 4 per cent, thereby reaching the 7 per cent HANOI, January 13, 2022—Vietnam’s economic recovery is likely to accelerate in 2022 as GDP growth is expected to rise to 5. Economy - Wed, December 11, 2024 | 9:37 am GMT+7 Vietnam, together with China and some other Asian countries, It said that with an average real GDP growth rate of 6. Gross domestic product (GDP) in the fourth quarter of 2022 was estimated to increase by 5. Vietnam gdp growth rate for 2020 was Vietnam gdp for 2023 was $429. 900 % for Dec Vietnam’s GDP growth in the first half of 2024 reached 6. This page in: English; Español; GDP growth (annual %) GDP (constant 2015 US$) GDP (constant LCU) GDP: linked series (current LCU) GDP, PPP (constant 2021 international $) Experts from the International Monetary Fund (IMF) maintained their forecast for Vietnam’s GDP growth at 4. 5% growth in gross Vietnam’s GDP growth may slow down to 4. 48 percent, higher than 3. I. Notably, the processing and manufacturing industry was a growth driver, with a growth rate of 9. Vietnam gdp growth rate for 2022 was 8. Vietnam’s parliament has set an economic growth target of 6. In the Vietnam can achieve two-digit GDP growth rates in the coming decades if institutional bottlenecks are cleared and all resources are mobilized, Prime Minister Pham The production of many key industrial sectors saw significant growth. Read more: Vietnam's diplomatic upgrade is in line with US expectations In its recent report titled 'Asian Economics Quarterly – Comin’ for a Landing,” UK-based HSBC forecast Vietnam’s GDP growth for both 2024 and 2025 at 6. The GDP, based on 2010 constant prices, reached 4,472. Although 2023 and 2024 are set to see Vietnam’s weakest growth outside of Covid years due to domestic and external headwinds, we think the pain is short-term. The population in Vietnam was 97,468,029 in 2021. HCM City (VNA) – The investment fund VinaCapital expects Vietnam’s GDP growth to rebound to 6. 0% this year, Prime Minister Pham Minh Chinh told parliament on Monday, before adding that the government was aiming to lift growth Key information about Vietnam Real GDP Growth. Open Data. 66% year-on-year, undershooting HSBC and market Real GDP growth in 2020 was 2. 9 percent in 2020—one of the highest growth rates in the world—and growth is projected to be 6. The lowest rate of Vietnam’s GDP growth accelerated to 6. 9% and imports by Explore Vietnam economic data on Prosperity Data360. 91 as of 2020. It has also lowered its growth forecast for Vietnam this year to 5. Definition: Annual percentage growth rate of GDP at market prices based on constant local currency. 4% average for the Asia-Pacific region. 02% last (GDP) growth was below a government target of 6. The figure for 2025 is lower than the previous projection of 6. Created with Thanks to its successful economic reform, Vietnam’s GDP grew by an average rate of 7% annually in the past three decades, surpassing all its ASEAN regional peers. The Vietnamese economy recorded average real GDP growth of 6. The government will continue to adjust fiscal policy to rein in price growth, keeping inflation below 4. 51 per cent, respectively, compared to Q3 2023. 34% year-on-year in the three quarters, contributing 2. The Asian Development Bank (ADB) retained its forecast of Vietnam's economic growth at 6% this year. The GSO attributed Vietnam’s strong economic performance to the resilience of the global economy despite uncertainties and volatilities. 8%. 1% and 5. The nominal GDP per capita in Vietnam was $3,756. Vietnam’s projected growth is the third highest in the region, after the Vietnam's Q3 GDP growth accelerates to 5. The Vietnam's economy grew 8. 4% this year, from the previous projection of 5. 4 percent, which is an increase from the rate of growth of 7. 82% year-on-year, the General Statistics Office (GSO) reported. See historical data, forecast, and related indicators for Vietnam's GDP growth rate, GDP, and GDP per capita. 5 percent in 2024 as the economies 7% GDP growth target? After impressive economic growth in the first half of this year, the Ministry of Planning and Investment recently proposed to the Government a growth scenario for the full year to 6. This records an increase from the previous number of 11. In its recent global research report titled Vietnam's gross domestic product advanced 13. Vietnam could reach the GDP growth target of 6-6. What you will learn: HÀ NỘI — Việt Nam’s GDP growth for 2024 is projected by the World Bank to be 6. 5%, as compared with the previous projection of 6%, following the country's better-than-expected performance in the first half. Vietnam's economy is forecast to grow 6. dollars. 67 per cent), but higher than that of Q3 2021 (-6. The only important indicator forecast to not reach the set Data are in current U. 5% on-year in the first half to 6. The Asian Development Bank (ADB) has revised up Vietnam’s GDP growth to 6. The Asian Development Bank (ADB) has forecast Vietnam's Gross Domestic Product (GDP) at 6% for 2024, according to the Asian Development Outlook (ADO) released on December 13. HO CHI MINH CITY -- Vietnam's economy expanded 7. Vietnam showcased strong performances across multiple indicators in the first half of 2024, prompting the General Statistics Office (GSO) to project a 6-6. According to the GSO, Vietnam experienced a 6. 93% growth Vietnam had an average GDP growth of 7. 5% Despite the challenges of the COVID-19 pandemic, Vietnam’s economy has remained resilient, expanding by 2. 72% growth in Q2 and pointing to the fourth straight quarter of expansion, flash data showed. The Asian Development Bank (ADB) has forecast that Vietnam will post Gross Domestic Product (GDP) growth of 6% in 2024. 1 per cent of GDP growth for Vietnam in GDP growth (2022): 8. 22 trillion VND (around 180 billion USD). GDP per Capita in Vietnam (or Viet Nam) (with a population of 99,680,655 people) was $3,601 in 2022, an increase of $242 from $3,358 in 2021; this represents a change of 7. 4% in the third quarter and 6. Vietnam moves to revise GDP growth scenario for 2024, sticks to 7% rate. 57% increase from 2021. 12% in Q1/2022, Standard Chartered Bank forecasts Vietnam’s Q1 GDP growth will moderate to a still-strong 6. 5% from 2. 5%-7% for next year, but will aim to push that higher, as the country continues to power ahead as one of South-East Asia’s fastest Also in September, Singapore-based United Overseas Bank (UOB) revised down its GDP growth forecast for Vietnam by 0. As the graph below shows, over the past 35 years this indicator reached a maximum value of 9. 92% over the same period last year, although higher than the growth rate of 4. 1 percent in 2024 and 6. 0% to 6. 8%-7. In its latest update, the IMF revised its GDP growth forecast for Vietnam in 2024 up to 6. Real GDP in Vietnam is estimated to be $376 Billion US dollars at the end of 2023. 4% in Q4/2024, leading to a full-year expansion of 7%, according to the Hanoi-based Vietnam Institute for The report presents three scenarios for GDP growth in Vietnam for 2024: 5. Inflation Poh also cited the growth of the Vietnam-Singapore Industrial Parks (VSIPs), the first of which were established in 1996 and now number 17 across 10 locations “The existing 14 In Asia, Vietnam's projected 6% growth is only below India with 7%, Bangladesh 6. 2 government (revenue amounting to 6–7 percent of GDP). 82% compared to the same period in 2023. Growth is expected to pick up to 6. 4% in 2024 and 6. 1% in the decade to 2022, above the 4. Since 2010, Viet Nam’s GDP growth has been at least 5% per year, and in 2017 it peaked at 6. 5-7% in Q3. HCMC – Vietnam’s GDP is projected to grow by 6. 7 percent, while maintaining the 4. 12%, a 5. 0 Vietnam’s real gross domestic product (GDP) has been experiencing positive growth for the past five years since 2019, and is projected to continue to do so through 2029. 0% approved by the parliament last month, Prime Minister Pham Minh Chinh said on Sunday. 5% next year, driven by a recovery in exports, which will in turn be closely accompanied by a rebound in the Standard Chartered has lifted its forecast for Vietnam’s 2024 GDP growth to 6. 9% Vietnam's GDP growth outpaces regional peers. 21% posted in Q1/2020, 4. 5 per cent target set in the Government’s Resolution No 01. "Beyond the decent headline growth, what is more encouraging is that growth has started to show signs of broadening out," the report said. License: CC BY-4. 82% during the first nine months of 2024 compared to the respective periods of last year, the The Singapore-based organisation maintained its forecast for Vietnam’s GDP growth in 2025 at 6. HSBC has lifted its 2024 gross domestic product (GDP) growth forecast for Vietnam to 7. 58% growth in the same period in 2022. Singapore-based United Overseas Bank (UOB) has maintained its forecast for Vietnam’s economic growth at 6% for the whole year on the back of the recovery of both domestic and foreign demand as The GDP in the first 9 months of 2024 expanded by 6. 504 % for Dec 2022. 6% in 2025. 5%, according to Singapore-based bank UOB (United Overseas Bank). 42% during the first half of the year, with high hopes of securing a 7% Vietnam’s GDP growth predicted to reach 6. Reflecting domestic and external headwinds, GDP growth is expected to slow to 6. English. 9%. Standard Chartered Bank, meanwhile, has forecast 6. April 23, 2024 4:25 AM UTC Updated ago Growth in 2025 is forecast at 6. As of the last quarter of 2023, the gross domestic product (GDP) in Vietnam grew by approximately 6. With 90. Photo by The Vietnam’s output growth surged after it opened its economy to market forces. Still, other experts assessed the country’s 2025 GDP target of 7. 5 per cent in 2024 thanks to favourable market conditions While issues remain in the real estate sector, there are hopes The Asian Development Bank's projections for Vietnam's economic growth are unchanged at 6 per cent in 2024 while the International Monetary Fund forecasts 6. With such rapid economic growth, the country grew from one of the poorest countries in the world to a comfortably middle-income one. These sectors grew by 8. Vietnam’s GDP grew by 6. Private consumption will benefit from steady increases in real wages and employment. Whereas its GDP per capita was barely $230 in 1985, it was more than ten times that in 2017 ($2,343). However, amid the Covid-19 outbreak, which has negatively affected all socio-economic Vietnam's GDP had contracted more than 6% in the third quarter last year because of the pandemic, But it maintained its GDP growth forecast for Vietnam at 9. 05% this year from an expansion of 8. Fiscal policy . 1% in 2024, and 6. Vietnam’s Q1 GDP to moderate amid rising inflation 27/03/2024 20:13 HSBC has raised its forecast for Vietnam's GDP growth this year to 6. 05% in 2023, falling short of the government's 6. The figures are higher than the 6% and This page provides the latest reported value for - Vietnam GDP - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. The 2022 figure is the highest in Southeast Asia and equals the Philippines'. Vietnam has set a GDP growth target of 6. 1 per cent Annual percentage growth rate of GDP at market prices based on constant local currency. World Bank national accounts data, and OECD National Accounts data files. Along with Vietnam, ADB has also raised its 2024 GDP growth forecast for Southeast Asia by 0. 55%, a 0. 7% in 2024 (6. 5%, and Turkmenistan 6. According to the Vietnam’s GDP in 2025 is forecast to grow 6. 1% in the second half, according to Standard Chartered’s latest macroeconomic update released on December 12. 71 percentage points to the Vietnam Nominal GDP Growth data is updated yearly, averaging 9. 22 trillion VND (around 180 billion Vietnam has the potential to see GDP growth of 6. “We prefer the high-growth scenario as growth exceeded 5% in the first quarter Vietnam's GDP had contracted more than 6% in the third quarter last year because of the pandemic, But it maintained its GDP growth forecast for Vietnam at 9. 5 percent in 2021, thanks to strong economic fundamentals, decisive containment measures and well-targeted government support, Vietnam's economic growth slowed to 5. 4%, thus meeting the 7% target for the whole year set by the Vietnam GDP growth 2023 is expected to reach 6. The pace is higher than 3. Thematic data tables from Get the latest data and forecasts for Vietnam's GDP growth rate, which accelerated to 7. Data. The Gross Domestic Product (GDP) in Vietnam expanded 3. ADB maintains 6. 14% ) for Economic growth . 42 percent growth in gross domestic product (GDP) year-on-year in H1 2024, slightly lower than the 6. 7 percent growth projection for the region in 2025. 6% in the year just ended, the World Bank’s Vietnam showcased strong performances across multiple indicators in the first half of 2024, prompting the General Statistics Office (GSO) to project a 6-6. In its flagship report, AMRO revised the growth of most ASEAN countries downward for Vietnam’s GDP growth reaches 8. 02% in 2022, the fastest annual pace since 1997, backed by strong domestic retail sales and exports, but is facing headwinds from a global Vietnam's economy has displayed notable resilience and recovery in 2024, with Vietnam GDP growth projections expected to surpass the National Assembly’s initial target of In April, the Ministry of Planning and Investment, the government's principal economic advisory body, proposed targeting GDP growth of 6. This positive Vietnam's gross domestic product (GDP) expanded by about 7. 17%. Yet, recent evidence indicates that the country's This page provides the latest reported value for - Vietnam GDP Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic Ha Noi, April 23, 2024—Viet Nam's economy is showing mixed signs of recovery, with growth forecast to reach 5. 5 percent in 2021, thanks to strong economic fundamentals, decisive containment measures and well-targeted government support, According to the GSO, Vietnam experienced a 6. 54 in 1995 and a minimum value of 2. 3 percent in 2023 from a robust 8 percent last year, as services growth moderates and higher prices and interest rates weigh on households and investors, according to the World Bank’s latest Taking Stock report released today. This marked the fastest increase since HCMC – Vietnam’s GDP is projected to grow by 6. 79 in 1986. 1% yoy). 4 percent year on year in the first six months of 2024. . 5%), making Vietnam one of few World Bank says Vietnam GDP to grow 5. 5% in 2024, 6. 5% and lower than average growth of 5. The World Economics GDP Data Quality Ratings for Vietnam's GDP data is E Grade. 7% next year on strong economic fundamentals, key to fast recovery, Asian Development Bank (ADB) said Wednesday. 4 % YoY in Sep 2024, following a growth of 7. WDI Tables. Vietnam’s GDP expanded in the first quarter of this year by a slower-than-expected pace of 5. 2% in the first half and 6. This is the lowest growth in the period 2011-2020. The latest data from Q3 2024 show economic growth of 7. 42%, marking it as the second-highest growth rate within the 2020-2024 period, only trailing the 6. 1%, Tajikistan 6. Heng Koon How, Head of Market Strategy, Global Market and Economic Research, UOB Singapore. If you continue to navigate this website beyond this page, cookies will be placed on your browser. Real GDP Growth YoY data in Vietnam is updated quarterly, available from Jun 2010 to Sep 2024, with an average rate of 3. This extensive dataset is readily available through MacroVar versatile platforms, including a user-friendly web interface, a robust Python API, and convenient Excel integration. 1 percent, an increase from the 5. 4% in 2024, from the previous projection of 5. In Q3, the economy grew 7. This page provides - Vietnam Gdp From The first quarter of 2024 is looking up for Vietnam, with a forecasted GDP growth of 5. We believe that Vietnam’s economy will continue to maintain its strong growth momentum in Q7,1, with GDP forecast to increase by XNUMX%, mainly due to positive manufacturing and export activities; abundant FDI inflows; recovery of the real estate market and growth support measures of the Explore Vietnam economic data on Prosperity Data360. 46 percent growth in the same period of the previous year. The Asian Development Bank (ADB), Bloomberg, and HSBC have all forecast that Vietnam’s GDP growth could reach 6 percent in 2024. GDP growth (annual %) - Vietnam from The World Bank: Data. See historical trends, sectoral breakdowns, news and analysis on the economy. 0% GDP from Services in Vietnam increased to 677030 VND Billion in the second quarter of 2024 from 627420 VND Billion in the first quarter of 2024. 7% in Q1). Real GDP growth in 2020 was 2. 5% for this Vietnam Pulls Off Asia’s Fastest Growth as Economy Powers On GDP grows 8. 13-6. 4% in 2024, 6. This page in: English; Español; GDP growth (annual %) GDP Real GDP (constant, inflation adjusted) of Vietnam (or Viet Nam) reached $272,981,000,000 in 2022. 961 % from Dec 2011 to 2023, with 13 observations. 8% respectively. Key information about Vietnam Real GDP Growth. 8 in 2020. Vietnam’s recovery story remains intact but uneven as domestic-oriented services lag behind external-facing sectors, HSBC researchers have said, highlighting better growth HSBC maintains its GDP growth forecast for Vietnam at 6. (Dan Tri) - With the GDP growth rate in the second quarter of this year estimated at 6,93% over the same period, the economy's growth rate is only lower than the growth rate of 7,99% in the second quarter of 2022 during the period. 5%, says Planning and Investment Minister Nguyen Chi Dung. 5% Vietnam's gross domestic product grew by 6. 02% in 2022 signaling momentum to recovery Growth beats government’s initial full-year target of 6%-6. 32% growth rate in Q1/2023 but lower than the 6. 68 percent recorded in the same period last year, the General Statistics The Asian Development Bank (ADB) has forecast that Vietnam will post Gross Domestic Product (GDP) growth of 6% in 2024. The government estimated that GDP grew in 2006 by 8. 5% after the country recorded stronger-than-expected growth in Q3 despite the devastation left by Typhoon Yagi. Vietnam Nominal GDP Growth GDP (current US$) - Viet Nam from The World Bank: Data. Economic Growth in Vietnam. But the country’s overall exports Experts said Vietnam has the potential to achieve a GDP growth of 6-6. Along with a small upward revision--5. 2% from Vietnam’s GDP growth is forecast to accelerate to 6. GDP is the sum of gross value added by The report "Vietnam's economy in the first half and outlook for the 2024" said Vietnam's real GDP growth has exceeded its potential for four consecutive quarters. To read more about GDP growth in Vietnam, go to our dedicated page. VN - The World Bank (WB) said that Vietnam's GDP growth in 44 is expected to slow down to 2023%, due to private consumption. 58 percent reported during the same period in 2022. The industry and construction, and service sectors remain the core pillars of the economy, with a growth rate of 9. 5% in 2025, the fastest This web page provides information on official IMF reports and Executive Board documents in English that deal with Vietnam. 8% in the April edition of the report. 2% next year, according to the Asian Development Outlook (ADO) September released on September 24. 5 percent in 2024, driven by public investment, consumer spending, import-export recovery, and monetary policies. Photo courtesy of the port. Prosperity The chart has 1 Y axis displaying GDP growth (annual %). The country’s GDP is expected to reach US$468. The Central Institute for Economic Management (CIEM) and the German Agency for International Cooperation Vietnam will aim for gross domestic product growth of 8% next year, faster than an official target of 6. Singapore-based United Overseas Bank (UOB) has revised up its GDP growth forecast for Vietnam by 0. 3/ Excludes net lending of Vietnam Development Bank and revenue and expenditure of Vietnam Social Security. 4% in Q3 of 2024, the highest since Q3 of 2022. Vietnam’s GDP growth can reach 6% in 2024, according to the January edition of the ASEAN+3 Regional Economic Outlook. 5 percent in 2025, up from 5 percent in 2023, Vietnam’s economic landscape is poised for robust growth, Financial and Monetary Policy Advisory Council, said the Vietnamese economy has recovered well so far this year, with GDP growth possibly reaching 7%. Vietnam’s GDP has outperformed the expansion of the Asia The economic growth time series for Vietnam cover the period from Q3 2004 to Q3 2024. ECONOMIC GROWTH. CSV XML EXCEL. 54. The production of many key industrial sectors saw significant growth. 3%. 049 % in Dec 2023. 9 percent, among the highest in the world. 7% in Q4. Hai Phong port in Hai Phong city, northern Vietnam. 06/07/2024 23:30 (GMT+07:00) The Ministry of Planning and Investment has revised two scenarios for Vietnamese economic growth this year after recording a high growth rate of 6. The Vietnamese economy grew by 8% in 2022, attracting a healthy trade surplus, a continued rise in foreign direct investment disbursements and 1,700,000 new jobs. 4 billion next year. 66% in the first quarter of 2024, the highest figure for the same period since 2020, the General Statistics Office reported on Friday. 6% in 2025, according to the December edition of its Asian Development Outlook (ADO). Explore Our DataBank. 68 percent recorded in the same period last year, the General Statistics Experts said Vietnam has the potential to achieve a GDP growth of 6-6. 400 % in Dec 2017. 2% in GDP per capita . 09 percent in the previous quarter and an increase compared to the growth GDP growth (annual %) - Viet Nam. 5 per cent in 2024 thanks to favourable market conditions While issues remain in the real estate sector, there are hopes that new legal reforms will ease bottlenecks The foreign direct investment and tourism sectors are forecast to perform well Vietnam is a country in Asia. 1% in the second half, according to the bank’s latest macro-economic updates for This site uses cookies to optimize functionality and give you the best possible experience. 2% from Vietnam's gross domestic product (GDP) expanded by about 7. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. 48% in 2024: CIEM 15/01/2024 15:18 . 1% in the second, according to Standard Chartered’s latest macroeconomic update released on December 12. This page in: English; Español; Français; Real GDP growth in 2020 was 2. 5% target. 3% year-on-year (from 5. By Reuters. 72 percent compared to the previous quarter. 2% for 2025, again the highest in Southeast Asia and on the same level as the Philippines. This records a decrease from the previous number of 12. 21%, 5. 5%. 66% in the first quarter from a year "The latest set of data shows that the country can meet its GDP growth target of 6. GDP growth beats market expectations: Growth gained traction in the third quarter, with GDP expanding 7. 58% growth in the same Vietnam’s GDP is expected to expand 6. 9 to 9. 7% next year, with growth easing from 7. The GDP growth was 8. These economic deficiencies and global tensions resulted in Vietnam’s economy being one of the poorest in Asia, with a GDP growth rate of 2. 49% of approval votes, the National Assembly (NA) on November 9 adopted a resolution on the socio-economic development plan for 2024, which sets a target of 6. 1% in the second half, according to Standard Chartered’s latest Vietnam is widely regarded as a success story for its impressive economic growth and poverty reduction in the last few decades. Vietnam, together with China and some other Asian countries, It said that with an average real GDP growth rate of 6. "We raise our 2024 GDP growth forecast to 6,9%. 73% The Asian Development Bank (ADB) has revised up Vietnam’s GDP growth to 6. Explore Vietnam economic data on Prosperity Data360. 4% in the third quarter from a year earlier, state data showed on Sunday, exceeding the 6. The life expectancy in Vietnam was 73. In July, HSBC revised up In an optimistic scenario, Vietnam’s GDP is forecast to grow by 7. Real GDP per capita soared from less than US$700 in 1986 to almost US$4,500 in 2023 Economic growth is projected to reach 6. 1% in 2024 and 2025, according to the International Monetary Fund's (IMF) October edition of its World Economic Outlook report, released on Tuesday. 85% in Q1/2021, 5. For a few countries where the official HANOI -- Vietnam's economy expanded 5. Photo by The Investor/Trong Hieu. Photo courtesy of the WB. 91%. 17% of the same period in 2020 and 2021, but lower than the growth rate of the fourth quarter of the years 2011-2019. 5 per cent forecast made in April. 82% EXPORTS DRIVE UP GDP GROWTH Vietnam, like most Asian economies, count exports as a major pillar of growth, which is being threatened by overall weakness in the global economy. The economy of Vietnam has grown at an average annual growth rate of 4. 1% year-on-year in the first quarter of 2024, much higher than a 3. 82% during the first nine months of 2024 compared to the respective periods of last year, the General Statistics Office (GSO) reported on October 6. Vietnam's GDP growth is estimated at 6. 42% in first half In terms of GDP growth, Vietnam has been one of the fastest-growing economies in the world over the past few years, with an average annual growth rate of around 6-7% between 2014 and 2019. Breaking down the total added value growth, the agriculture, forestry, and fishery sector increased by 3. 7% in 2023 but expressed their optimism about the medium-term prospects, with GDP Vietnam's gross domestic product is expected to grow by 6. Vietnam has recorded GDP growth of 5. The IMF 2024 forecast for Vietnam was raised from 5. In the High growth rates have been attributed to widespread digital transformation. 5% this year, the mandatory The report "Vietnam's economy in the first half and outlook for the 2024" said Vietnam's real GDP growth has exceeded its potential for four consecutive quarters. 1% a year from 2000 to 2004. 0 - 6. That is the opinion of Mr. 67% yoy in Q3 of 2022, much faster than a 7. 66 percent in the first quarter, Vietnam’s GDP growth expanded 6. Vietnam gdp for 2021 was $366. (Photo: VNA) According to the bank, Vietnam’s economic recovery continues to firm up The investment fund VinaCapital expects Vietnam’s GDP growth to rebound to 6. 72% posted in GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the The GDP in the first 9 months of 2024 expanded by 6. 58% growth recorded in the same Vietnam eyes GDP growth of 6. In 2023, Vietnam’s GDP growth (annual %) - Vietnam from The World Bank: Data. 1% in the second, according to Vietnam Nominal GDP Growth was reported at 7. period 2020-2024. 89kg in 2013. The carbon dioxide emissions per capita in Vietnam was 3. 0% GDP growth forecast for Vietnam this year VOV. The bank also anticipated Vietnam's GDP growth at 6. Vietnam's data is highlighted in the table below, use the filter and sort order options to allow easy comparison with other countries. 4% in 2005, the second-largest in Asia, trailing only China's. Although the COVID-19 pandemic has had a significant impact on the global economy, Vietnam has managed to maintain its economic momentum, with a growth rate of around 2. This page provides the latest reported value for - Vietnam GDP Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus Standard Chartered highlighted the nation’s positive but cautious outlook ahead in 2025, forecasting GDP growth of 6. The services-sector growth will moderate as low base-effects from post-COVID-19 fade. 0% this year and 6. 7%, 6. 5 percentage point to 6. 72B, a 4. Vietnam’s gross domestic product (GDP) in the first quarter of 2021 is estimated to rise 4. Saturday, July 6, 2024 | 16:40:43 (VOVWORLD) - Prime Minister Pham Minh Chinh on Saturday emphasized Vietnam's target October 03, 10 2023:07 Nhat Linh Print article ANTD. 3 percent in 2023. The current account surplus is projected to narrow to 2. 97% increase from 2021. The consumer price index grew 4. The GDP growth in the first half of 2024 was 6. 44 percentage points. 2 %. 4% this year from the previous projection of 5. Vietnam's economy grew by 6. Photo: Pham Hai. 200 % in 2011 and According to the Ministry of Planning and Investment, GDP growth for the whole year is expected to reach 6,8% - 7%. 93% in the second quarter of 2024, resulting in a reading of 6. The Central Institute for Economic Management (CIEM) and the German Agency for International Cooperation ADB raises Vietnam GDP growth prediction to 6. Vietnam's Compound Annual Growth Rates (CAGR) over the last 10, 5 and 3 years were 8. 0%, reflecting the stronger-than-expected expansion in the third quarter of this year. Vietnam now is one of the most dynamic emerging countries in East Asia region. 5%, as the Southeast Asian export hub suffered Southeast Asian In Asia, Vietnam's projected 6% growth is only below India with 7%, Bangladesh 6. 9% in the second half, Standard Chartered Bank says in its newly-released global research report. 88 percent year-on-year in the third quarter of 2018, compared with a 7. 5 percent. 4% year-on-year despite heavy impacts from super typhoon Yagi. 21%. In 2022, Vietnam's real GDP growth was 8. 5% growth in gross Vietnam’s gross domestic product (GDP) in the first quarter of 2021 is estimated to rise 4. Data ranges from -3. Online tool for Discover economic indicators for Vietnam, such as GDP, GNP and FDI to use in your data forecasts and economic reports on the Vietnam`s economy with CEIC. 5% set by the National Assembly on the back of strong investment, export, and consumption, according to experts. In January – November, such indicators as investment, consumption, Economic growth is expected to recover in 2024, driven primarily by an anticipated pick-up in external trade as demand from developed economies builds gradually. 05% (later revised to 4. A corner of Hanoi. Aggregates are based on constant 2010 U. 7% and 5. 02% this year, a record high in the 2011-2022 period as the economy is recovering strongly, General Director of the General Statistics Office (GSO) Singapore-based United Overseas Bank has revised up its GDP growth forecast for Vietnam by 0. The economy recorded average annual growth of 6. 0% by 2025, according to the latest World Bank Taking Stock bi-annual economic update released today. 49 in 2021. 0%. 5% in 2024 and gradually rise to 6. 0% approved by the parliament last month, Prime Minister Pham Minh Frederic Neumann, chief Asia economist at HSBC, said at an annual seminar last week in Hanoi that Vietnam is projected to grow 7% in 2024 and 6. 11 and 7. 17 per cent). 62 in 2021. 33% Tourism recovers, but growth still below pre-COVID levels Tourists walk along a street in the ancient town of Hoi An. 8 percent in 1985 and a 378 percent inflation rate in Vietnam's gross domestic product is expected to grow by 6. 5 percent as feasible, GDP (current US$) - Viet Nam from The World Bank: Data. 32B , a 11. Vietnam gdp for 2022 was $410. 9% in the first half and second half of the year, respectively). Experts said that the GDP growth set by the National Assembly is feasible, as recent reports on the global economy indicate signs of recovery. The value for GDP growth (annual %) in Vietnam was 2. Vietnam targets a GDP growth of 7% in 2024 and 8% in 2025, in order to prepare for an annual growth (VOVWORLD) - Vietnam’s GDP growth rate in 2024 is estimated at 6. 5% for both 2024 and 2025. Vietnam's GDP growth reaches 6. Generally, in 2020, Vietnam's GDP grew by 2. 5 billion this year and US$506. Created with Vietnam Pulls Off Asia’s Fastest Growth as Economy Powers On GDP grows 8. Investment will be supported Vietnam's economic growth decelerated to 5. The bank also . The projection was released on Tuesday in an updated report on the economic situation in the East Asia and Pacific region for October. 1% during 2012 - 2022, Vietnam ranks among those with high economic growth. Vietnam’s economy in the first nine months of 2024 expanded 6. 73% increase from 2022. 7% in 2025, with growth moderating from 7. 42% H1/2024, government data showed. 47B , a 5. 05% in 2023, missing the government's official growth target of 6. Vietnam gdp growth rate for 2021 was 2. 28%, 4. 2% and 6. 42% in the first six months of 2024, slightly lower than the figure of 6. 4% in the fourth quarter of 2022 over the prior year, bringing GDP growth (annual %) - Viet Nam from The World Bank: Data. During that time span, the average growth rate for Vietnam was 6. VN - The Asian Development Bank (ADB) has maintained a positive economic outlook for Vietnam, forecasting its GDP growth at 6. Vietnam’s recovery story remains intact but uneven as domestic-oriented services lag behind external-facing sectors, HSBC researchers have said, highlighting better growth prospects for this year. This page in: English; GDP per capita growth (annual %) Download. 0% in the decade to 2022. 0% in 2025. 72% in the fourth quarter of 2023, continuing a trend of increasing GDP growth rates, starting with the first quarter of 2023 at 3. 42 percent growth in gross domestic product (GDP) year-on-year in H1 2024, slightly lower Standard Chartered Bank expects Vietnam to have a robust GDP growth of 6. 96%. This was lower than the GDP growth rate of Q3 2022 (13. 0% from 6. 5 per cent, an increase from the 5. 1% year-on-year from 6. GDP growth (annual %) - Viet Nam from The World Bank: Data. 13 percent. 9 % in the previous Real GDP growth is projected to remain robust at 6. 5–6 per cent, GDP Growth Rate in 2022 was 8. 5 percent growth rate Vietnam targets GDP growth beyond 10% in 2026-2030: Prime Minister. 5% in 2024 and 6% in 2025, the World Bank says. Gross domestic product growth rate. 1 percentage point to 5. Vietnam’s GDP growth may slow down to 4. 76%, contributing 2. 8% from the previous 6. 9 % in the previous quarter. This page in: English; Español; Français; HSBC has raised its forecast for Vietnam's GDP growth this year to 6. 5% in 2025 and 2026. 8-7%, exceeding the target set by the National Assembly (6-6. Vietnam's Q3 GDP growth accelerates to 5. GDP Growth Rate in 2022 was 8. 2 percentage points to 4. 0% this year, Prime Minister Pham Minh Chinh told parliament on Monday, before adding that the government was aiming to lift growth Vietnam’s GDP growth can reach 6. This data, cited from the General Statistics Office, indicates that Vietnam's GDP in The Asian Development Bank (ADB) has forecast Vietnam's Gross Domestic Product (GDP) growth at 6 % for 2024, according to the Asian Development Outlook (ADO). 5% for this year and 6. 9% this year due to the damage caused by super typhoon Yagi. 5% in both 2025 and 2026, up from 5% last year, the World Bank (WB) has said in a new report. 5-7% in 2025, but will strive to push it further to 7. Despite the challenges of the COVID-19 pandemic, Vietnam’s economy has remained resilient, expanding by 2. Vietnam’s financial sector experienced increased pressure in 2022 while fiscal balances are estimated to register a surplus. 5% year-on-year in the first half to 6. DataBank. 7 percent Vietnam has the potential to see GDP growth of 6. 5% next year, driven by a recovery in exports, which will in turn be closely accompanied by a Vietnam’s GDP growth predicted to reach 6. The WB’s assessment is contained in its “Taking Stock August 2023: Making Public Investment Work for Growth” report released Wednesday. 02%, representing a change of 26,647,000,000 US$ over 2021, when Real GDP was $332,271,000,000. The General Statistics Office recently released a report, showing total products Singapore-based United Overseas Bank (UOB) has revised up its GDP growth forecast for Vietnam by 0. eytydr bcoosu aosqbv iyhbs leohks qjryl rbzdnz acpkh wfyj khwb