The Gross Domestic Product (GDP) in Vietnam was worth 429.72 billion US dollars in 2023, according to official data from the World Bank. The GDP value of Vietnam represents 0.41 percent of the world economy. This dataset 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.

In 2023, Vietnam’s gross domestic product (GDP) amounted to around 433.7 billion U.S. dollars, and is expected to increase to 506.43 billion U.S. dollars by 2025. Gross domestic product denotes the aggregate value of all services and goods produced within a country in any given year, and it is an important indicator of a country’s economic power. Vietnam’s economy Vietnam’s economy has a strong agrarian base, with key agricultural exports of wet rice, coffee, and black pepper. However, in the past decade (2008 to 2018), agriculture's contribution to Vietnam's GDP has been decreasing while the country’s industry sector experienced rapid growth at the same time. As of 2018, Vietnam’s top exports include information technology hardware, such as broadcasting equipment and mobile devices. Vietnam’s regional comparison Vietnam is part of the Association of Southeast Asian Nations (ASEAN), which encompasses regional nations with the goal of fostering trade and economic growth. The region has been reporting increasing GDP, amounting to 2.9 trillion U.S. dollars in 2018. Vietnam is one of the ASEAN countries experiencing export trade growth, and has had consistent yearly growth in GDP, at a rate of around six percent.

The Gross Domestic Product (GDP) in Vietnam expanded 7.55 percent in the fourth quarter of 2024 over the same quarter of the previous year. This dataset provides the latest reported value for - Vietnam GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Key information about Vietnam Nominal GDP Growth

• Vietnam Nominal GDP Growth was reported at 11.546 % in Dec 2024.
• This records an increase from the previous number of 7.264 % for Dec 2023.
• Vietnam Nominal GDP Growth data is updated yearly, averaging 10.159 % from Dec 2011 to 2024, with 14 observations.
• The data reached an all-time high of 29.200 % in 2011 and a record low of 4.375 % in 2020.
• Vietnam Nominal GDP Growth data remains active status in CEIC and is reported by CEIC Data.
• The data is categorized under World Trend Plus’s Global Economic Monitor – Table: Nominal GDP: Y-o-Y Growth: Annual.

CEIC calculates annual Nominal GDP Growth from annual Nominal GDP. General Statistics Office provides Nominal GDP in local currency.

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. In 2023, Vietnam’s real GDP increased by around five percent compared to the previous year.

Learning from real GDP

Real gross domestic product (GDP) is a measure that reflects the value of all goods and services an economy produces within a given year. It is expressed in base-year prices, and is thus an inflation-adjusted way to compare a country’s economic output through the years. The GDP growth rate is a significant indicator of a country’s economic health, as it reacts to the economy’s expansions and contractions.

Vietnam’s optimistic future

As indicated by the positive growth rate of its real GDP, Vietnam’s economy is expanding due to growth in exports, domestic demand, and the manufacturing sector. As the economy expands, so does the total expenditure of Vietnamese consumers. The average monthly income per capita in Vietnam increased to almost 3.8 percent in 2018, and is spent on fast moving consumer goods from popular brands like Vinamilk and P/S.

GDP Constant Prices in Vietnam increased to 1508387 VND Billion in the second quarter of 2024 from 1396660 VND Billion in the first quarter of 2024. This dataset provides - Vietnam GDP Constant Prices - actual values, historical data, forecast, chart, statistics, economic calendar and news.

In 2022, GDP per capita in Vietnam amounted to around 4,101.73 U.S. dollars. GDP is the total value of all goods and services produced in a country in a year. It is considered to be a very important indicator of the economic strength of a country and a positive change is an indicator of economic growth.

Vietnam’s economy In the last decade, the Vietnamese economy has experienced consistent economic growth with a six to seven percent increase in GDP from year to year. The country’s economy is fueled by its exports of natural resources and agricultural products, though since 2008 its information technology hardware exports have risen substantially. Vietnam’s agriculture and service sectors generate over 56 percent of Vietnam’s gross domestic product.

Vietnam’s population

The majority of Vietnam’s population works in the agriculture or service industries, and the country has one of the world’s lowest unemployment rates at just 1.8 percent in 2018. The population is relatively young, with the median age expected to reach 32.5 years by 2020. The median age has increased significantly from its low point of 18.2 years in 1970, around the time Vietnam was being devastated by war. Since then, the country’s population has increased as well, reaching over 94 million people in 2018.

Key information about Vietnam Real GDP Growth

• The Gross Domestic Product (GDP) in Vietnam expanded 13.1 % YoY in Dec 2024, following a growth of 3.8 % in the previous quarter.
• Real GDP Growth YoY data in Vietnam is updated quarterly, available from Jun 2010 to Dec 2024, with an average rate of 3.4 %.
• The data reached an all-time high of 20.1 % in Dec 2021 and a record low of -14.9 % in Mar 2024.

CEIC calculates quarterly Real GDP Growth from quarterly Real GDP. The General Statistics Office provides Real GDP in local currency, at 2010 prices.


Related information about Vietnam Real GDP Growth

• In the latest reports, Nominal GDP of Vietnam reached 362.6 USD bn in Dec 2021.
• Its GDP deflator (implicit price deflator) increased 3.9 % in Sep 2022.
• GDP Per Capita in Vietnam reached 3,716.8 USD in Dec 2021.
• Its Gross Savings Rate was measured at 36.7 % in Dec 2023.
• For Nominal GDP contributions, Investment accounted for 32.0 % in Dec 2023.
• Public Consumption accounted for 9.0 % in Dec 2022.
• Private Consumption accounted for 54.4 % in Dec 2023.

The ratio of government expenditure to GDP in Vietnam was forecast to increase between 2024 and 2029 by in total 0.8 percentage points. This overall increase does not happen continuously, notably not in 2028 and 2029. The ratio is estimated to amount to 21 percent in 2029. Shown here is the general government expenditure as a share of the national gross domestic product. As defined by the International Monetary Fund, the general government expenditure consists of total expense and the net acquisition of nonfinancial assets. The gross domestic product represents the total value of final goods and services produced during a year.Find more key insights for the ratio of government expenditure to GDP in countries like Philippines, Timor-Leste, and Laos.

Key information about Vietnam Investment: % of GDP

• Vietnam Investment accounted for 30.6 % of its Nominal GDP in Dec 2024, compared with a ratio of 31.6 % in the previous year.
• Vietnam investment share of Nominal GDP data is updated yearly, available from Dec 2010 to Dec 2024, with an average ratio of 32.0 %.
• The data reached an all-time high of 37.1 % in Dec 2010 and a record low of 30.2 % in Dec 2013.

CEIC calculates Investment as % of Nominal GDP from annual Nominal Gross Capital Formation and annual Nominal GDP. General Statistics Office provides Nominal Gross Capital Formation and Nominal GDP in local currency.


Related information about Vietnam Investment: % of GDP

• In the latest reports, Vietnam GDP expanded 13.1 % YoY in Dec 2024.
• Vietnam Nominal GDP reached 362.6 USD bn in Dec 2021.
• Its GDP deflator (implicit price deflator) increased 3.9 % in Sep 2022.
• Vietnam GDP Per Capita reached 3,716.8 USD in Dec 2021.
• Its Gross Savings Rate was measured at 37.2 % in Dec 2024.

BNP-deflatoren i Vietnam økte til 175,31 poeng i 2023 fra 172,03 poeng i 2022. Gjeldende verdier, historiske data, prognoser, statistikk, diagrammer og økonomiske kalender - Vietnam - BNP-deflatoren.

GDP from Public Administration in Vietnam increased to 30104 VND Billion in the second quarter of 2024 from 23120 VND Billion in the first quarter of 2024. This dataset provides - Vietnam Gdp From Public Administration- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Key information about Vietnam Private Consumption: % of GDP

• Vietnam Private Consumption accounted for 53.9 % of its Nominal GDP in Dec 2024, compared with a ratio of 54.3 % in the previous year.
• Vietnam Private Consumption contribution to Nominal GDP ratio is updated yearly, available from Dec 2010 to Dec 2024, with an average share of 56.8 %.
• The data reached an all-time high of 59.3 % in Dec 2015 and a record low of 53.9 % in Dec 2024.

CEIC calculates Private Consumption as % of Nominal GDP from annual Private Consumption Expenditure and annual Nominal GDP. General Statistics Office provides Private Consumption Expenditure and Nominal GDP in local currency.


Related information about Vietnam Private Consumption: % of GDP

• In the latest reports, Vietnam GDP expanded 13.1 % YoY in Dec 2024.
• Its Nominal GDP reached 362.6 USD bn in Dec 2021.
• Vietnam GDP Per Capita reached 3,716.8 USD in Dec 2021.
• Its Gross Savings Rate was measured at 37.2 % in Dec 2024.

GDP from Utilities in Vietnam increased to 55602 VND Billion in the second quarter of 2024 from 50399 VND Billion in the first quarter of 2024. This dataset provides - Vietnam Gdp From Utilities- actual values, historical data, forecast, chart, statistics, economic calendar and news.

The ratio of national debt to gross domestic product (GDP) in Vietnam was forecast to continuously decrease between 2024 and 2029 by in total 2.8 percentage points. After the ninth consecutive decreasing year, the ratio is estimated to reach 30.97 percent and therefore a new minimum in 2029. This indicator describes the general government gross debt in relation to the country's GDP. According to the International Monetary Fund, gross debt consists of all liabilities that require payment or payments of interest and/or principal by the debtor to the creditor at a date or dates in the future. The GDP, on the other hand, refers to the total value of final goods and services produced during a year.Find more key insights for the ratio of national debt to gross domestic product (GDP) in countries like Brunei, Malaysia, and Philippines.

Vietnam GDP: Year to Date: Construction data was reported at 693,131.236 VND bn in Dec 2024. This records an increase from the previous number of 470,721.110 VND bn for Sep 2024. Vietnam GDP: Year to Date: Construction data is updated quarterly, averaging 184,229.242 VND bn from Mar 2010 (Median) to Dec 2024, with 60 observations. The data reached an all-time high of 693,131.236 VND bn in Dec 2024 and a record low of 37,102.226 VND bn in Mar 2010. Vietnam GDP: Year to Date: Construction data remains active status in CEIC and is reported by General Statistics Office. The data is categorized under Global Database’s Vietnam – Table VN.A008: GDP: by Industry: VSIC 2007: Current Price: Quarterly: Year To Date: Re-evaluation.

GDP from Transport in Vietnam increased to 97926 VND Billion in the second quarter of 2024 from 84257 VND Billion in the first quarter of 2024. This dataset provides - Vietnam Gdp From Transport- actual values, historical data, forecast, chart, statistics, economic calendar and news.

The share in the global GDP adjusted for PPP in Vietnam was forecast to continuously increase between 2024 and 2029 by in total 0.1 percentage points. After the eighth consecutive increasing year, the share is estimated to reach 0.96 percent and therefore a new peak in 2029. Following the definitions provided by the International Monetary Fund, this indicator describes the share of a country's gross domestic product in the global gross domestic product. To this end the GDP (indicating the total value of final goods and services produced during a year) has been adjusted for purchasing power parity and set in relation to the purchasing power adjusted global GDP value.Find more key insights for the share in the global GDP adjusted for PPP in countries like Philippines, Laos, and Malaysia.

Vietnam Real GDP: YoY: Quarterly: Re-evaluation data was reported at 7.550 % in Dec 2024. This records an increase from the previous number of 7.429 % for Sep 2024. Vietnam Real GDP: YoY: Quarterly: Re-evaluation data is updated quarterly, averaging 6.375 % from Mar 2011 (Median) to Dec 2024, with 56 observations. The data reached an all-time high of 13.714 % in Sep 2022 and a record low of -6.030 % in Sep 2021. Vietnam Real GDP: YoY: Quarterly: Re-evaluation data remains active status in CEIC and is reported by General Statistics Office. The data is categorized under Global Database’s Vietnam – Table VN.A003: GDP: by Expenditure: 2010 Price: Re-evaluation.

According to a surveyed by Infocus Mekong, as of January 2024, 41 percent of respondents in Vietnam believed that the economy would be worse compared to the year 2023. Meanwhile, 36 percent of the respondents were positive about the economic outlook this year.