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.

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.

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.

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.

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.

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.

Vietnam recorded a Government Debt to GDP of 33.50 percent of the country's Gross Domestic Product in 2023. This dataset provides - Vietnam Government Debt To GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

This dataset provides values for GDP reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

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.

Key information about Vietnam Gross National Product (GNP)

• Vietnam Gross National Product (GNP) was reported at 411.277 USD bn in Dec 2023.
• This records an increase from the previous number of 393.715 USD bn for Dec 2022.
• Vietnam Gross National Product (GNP) data is updated yearly, averaging 253.675 USD bn from Dec 2010 to 2023, with 14 observations.
• The data reached an all-time high of 411.277 USD bn in 2023 and a record low of 142.641 USD bn in 2010.

• Vietnam Gross National Product (GNP) data remains active status in CEIC and is reported by CEIC Data.
• CEIC converts annual Gross National Product into USD. General Statistics Office provides Gross National Product in local currency. The State Bank of Vietnam average market exchange rate is used for currency conversions.

GDP from Manufacturing in Vietnam increased to 345726 VND Billion in the second quarter of 2024 from 316856 VND Billion in the first quarter of 2024. This dataset provides - Vietnam Gdp From Manufacturing- actual values, historical data, forecast, chart, statistics, economic calendar and news.

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.

The statistic shows gross domestic product (GDP) per capita in the ASEAN countries from 2019 to 2022, with projections up until 2029. 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. The ASEAN (Association of Southeast Asian Nations) region in Asia comprises Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam. In 2022, GDP per capita in Brunei amounted to around 37,452.92 U.S. dollars.

This dataset provides values for GDP PER CAPITA reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

Key information about Vietnam Labour Productivity Growth

• Vietnam Labour Productivity improved by 15.12 % YoY in Dec 2021, compared with a growth of 6.45 % in the previous year
• Vietnam Labour Productivity Growth data is updated yearly, available from Dec 2019 to Dec 2021, averaging at 9.22 %
• The data reached an all-time high of 15.12 % in Dec 2021 and a record low of 6.45 % in Dec 2020

In 2023, Vietnam's transportation and storage sector accounted for 4.92 percent of the country's total GDP, equivalent to over 502.56 trillion Vietnamese dong. In that year, Vietnam's GDP totaled approximately 10.2 thousand trillion Vietnamese dong.

As of the first quarter of 2023, Hai Phong was the centrally controlled city with the highest gross regional domestic product growth rate among all the municipalities in Vietnam, at 9.65 percent. Ha Noi, the capital city of the country, recorded a GRDP growth rate of nearly six percent that year. By comparison, the GRDP of Ho Chi Minh City, the largest city in Vietnam, only increased by almost one percent in the same year.

This statistic shows the top ten countries projected to have the greatest average annual growth in gross domestic product from 2016 to 2050. From 2016 to 2050, Vietnam is projected to have an average annual GDP growth rate of 5 percent.