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.

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.

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.

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.

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.

Full Year GDP Growth in Vietnam decreased to 5.05 percent in 2023 from 8.02 percent in 2022. This dataset includes a chart with historical data for Vietnam Full Year Gdp Growth.

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.

• 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.

Vietnam VN: GDP: Growth: Gross Value Added: Agriculture data was reported at 2.902 % in 2017. This records an increase from the previous number of 1.357 % for 2016. Vietnam VN: GDP: Growth: Gross Value Added: Agriculture data is updated yearly, averaging 3.619 % from Dec 1986 (Median) to 2017, with 32 observations. The data reached an all-time high of 7.003 % in 1989 and a record low of -1.142 % in 1987. Vietnam VN: GDP: Growth: Gross Value Added: Agriculture data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Vietnam – Table VN.World Bank: Gross Domestic Product: Annual Growth Rate. Annual growth rate for agricultural value added based on constant local currency. Aggregates are based on constant 2010 U.S. dollars. Agriculture corresponds to ISIC divisions 1-5 and includes forestry, hunting, and fishing, as well as cultivation of crops and livestock production. Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. It is calculated without making deductions for depreciation of fabricated assets or depletion and degradation of natural resources. The origin of value added is determined by the International Standard Industrial Classification (ISIC), revision 3 or 4.; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted average; Note: Data for OECD countries are based on ISIC, revision 4.

In 2023, Vietnam’s service sector contributed the largest percentage to the country’s gross domestic product (GDP), at 42.54 percent. The service sector consists of the production of intangible goods to businesses and final consumers. Approximately 35.79 percent of the Vietnamese population works in the service sector. A young, working population About 69 percent of Vietnam’s 94 million inhabitants are part of the workforce, or between 15 to 64 years. The country’s workforce has a low unemployment rate of around 1.8 percent, and it is considered a strong regional economic leader, with a yearly economic growth rate of between 6 and 7 percent. Changes in Vietnam’s economy Vietnam’s economy has experienced several drastic shifts over the course of the country’s history, most recently during and following the events of the Indochina Wars: when the North and South were divided politically in the 1950’s, each adopted different economic ideologies, with a communist economy in the North and a capitalist economy in the South. After the country was reunified in 1975, the economy was joined into a socialist-oriented market economy, which has enacted several five-year plans and economic renewal campaigns in order to grow its national economy.

The Gross Domestic Product per capita in Vietnam was last recorded at 13491.88 US dollars in 2023, when adjusted by purchasing power parity (PPP). The GDP per Capita, in Vietnam, when adjusted by Purchasing Power Parity is equivalent to 76 percent of the world's average. This dataset provides - Vietnam GDP per capita PPP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

In 2023, the manufacturing sector made a significant contribution of over 2.4 quadrillion Vietnamese dong to the gross domestic product (GDP) of Vietnam, thereby achieving the highest contribution across all sectors. The agriculture, forestry, and fishery sector accounted for the second-largest GDP contribution, followed by the wholesale and retail trade, vehicles, and motorcycle repairs sector. The expansion of Vietnam's manufacturing sector The manufacturing sector has been a fundamental component of Vietnam's economy for many years, consistently driving its expansion since 2015, evidenced by its steadily increasing gross domestic product (GDP) value. This is further highlighted by the escalating number of newly established businesses within the sector, reaching a peak in 2022 with the highest recorded number of enterprises in seven years. Furthermore, the manufacturing sector has emerged as the main driver of Vietnam's export figures. Key export segments within the manufacturing sector include electronics, computers, and components, alongside mobile phones and spare parts, as well as textile and footwear products. Hai Phong City - A rising force in Vietnam's manufacturing landscape Hai Phong has emerged as a pivotal manufacturing hub in northern Vietnam, alongside Bac Ninh and Bac Giang. The city accounted for five percent of the newly registered foreign direct investment (FDI) in the manufacturing sector during the first nine months of 2023. Furthermore, home to one of Vietnam's largest harbors, Hai Phong has strengthened its trading position, handling the highest volume of Vietnam’s domestic sea cargo at 8.75 million metric tons in 2022. The city is also home to VinFast, a pioneering electric car manufacturer in Vietnam, with significant electric vehicle sales recorded in the first half of 2023.

Vietnam VN: GDP: % of GDP: Gross Value Added: Agriculture data was reported at 15.339 % in 2017. This records a decrease from the previous number of 16.320 % for 2016. Vietnam VN: GDP: % of GDP: Gross Value Added: Agriculture data is updated yearly, averaging 23.241 % from Dec 1985 (Median) to 2017, with 33 observations. The data reached an all-time high of 46.297 % in 1988 and a record low of 15.339 % in 2017. Vietnam VN: GDP: % of GDP: Gross Value Added: Agriculture data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Vietnam – Table VN.World Bank: Gross Domestic Product: Share of GDP. Agriculture corresponds to ISIC divisions 1-5 and includes forestry, hunting, and fishing, as well as cultivation of crops and livestock production. Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. It is calculated without making deductions for depreciation of fabricated assets or depletion and degradation of natural resources. The origin of value added is determined by the International Standard Industrial Classification (ISIC), revision 3 or 4.; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted Average; Note: Data for OECD countries are based on ISIC, revision 4.

GDP from Construction in Vietnam increased to 97405 VND Billion in the second quarter of 2024 from 75468 VND Billion in the first quarter of 2024. This dataset provides - Vietnam Gdp From Construction- actual values, historical data, forecast, chart, statistics, economic calendar and news.

In 2021, Ho Chi Minh City's contribution to Vietnam's gross domestic product (GDP) accounted for almost 16 percent of the total GDP. Around 13 percent of the country's GDP came from the capital city, Ha Noi, that year. In total, the ten presented provinces contributed over half of the economic output that year.

Vietnam recorded a Government Budget deficit equal to 4 percent of the country's Gross Domestic Product in 2023. This dataset provides - Vietnam Government Budget - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Vietnam GDP Index: 1994p: Manufacturing data was reported at 108.300 Prev Year=100 in 2011. This records a decrease from the previous number of 108.380 Prev Year=100 for 2010. Vietnam GDP Index: 1994p: Manufacturing data is updated yearly, averaging 108.380 Prev Year=100 from Dec 2007 (Median) to 2011, with 5 observations. The data reached an all-time high of 112.370 Prev Year=100 in 2007 and a record low of 102.760 Prev Year=100 in 2009. Vietnam GDP Index: 1994p: Manufacturing data remains active status in CEIC and is reported by General Statistics Office. The data is categorized under Global Database’s Vietnam – Table VN.A018: Gross Domestic Product: Index: PY=100: VSIC 2007.

In 2022, the estimated total GDP of all ASEAN states amounted to approximately 3.67 trillion U.S. dollars, a significant increase from the previous years. In fact, the GDP of the ASEAN region has been skyrocketing for a few years now, reflecting the region’s thriving economy. Power in the EastThe Association of Southeast Asian Nations (ASEAN) comprises Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam. It was established in 1967 among five of these countries (Indonesia, Malaysia, Thailand, Singapore, and the Philippines) to facilitate trade and economic growth, as well as promote cultural development and social structures in the region. To date, they have been joined by another five nations. The ASEAN marketThe founding of the ASEAN organization provides the collaborating nations with more autonomy and influence on the global economy than they would have had by themselves. Additionally, struggling participating countries, such as Laos, are given an opportunity to grow on an ASEAN single market.

Retail Sales in Vietnam increased 9.40 percent in February of 2025 over the same month in the previous year. This dataset provides - Vietnam Retail Sales YoY - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Unemployment Rate in Vietnam decreased to 2.22 percent in the fourth quarter of 2024 from 2.23 percent in the third quarter of 2024. This dataset provides the latest reported value for - Vietnam Unemployment Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Vietnam VN: GDP: USD: Gross National Income: Atlas Method data was reported at 206.883 USD bn in 2017. This records an increase from the previous number of 194.829 USD bn for 2016. Vietnam VN: GDP: USD: Gross National Income: Atlas Method data is updated yearly, averaging 41.219 USD bn from Dec 1989 (Median) to 2017, with 29 observations. The data reached an all-time high of 206.883 USD bn in 2017 and a record low of 7.569 USD bn in 1991. Vietnam VN: GDP: USD: Gross National Income: Atlas Method data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Vietnam – Table VN.World Bank: Gross Domestic Product: Nominal. GNI (formerly GNP) is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and property income) from abroad. Data are in current U.S. dollars. GNI, calculated in national currency, is usually converted to U.S. dollars at official exchange rates for comparisons across economies, although an alternative rate is used when the official exchange rate is judged to diverge by an exceptionally large margin from the rate actually applied in international transactions. To smooth fluctuations in prices and exchange rates, a special Atlas method of conversion is used by the World Bank. This applies a conversion factor that averages the exchange rate for a given year and the two preceding years, adjusted for differences in rates of inflation between the country, and through 2000, the G-5 countries (France, Germany, Japan, the United Kingdom, and the United States). From 2001, these countries include the Euro area, Japan, the United Kingdom, and the United States.; ; World Bank national accounts data, and OECD National Accounts data files.; Gap-filled total;