Gross domestic product (GDP) growth rate in Vietnam 2024*

Vietnam’s real gross domestic product (GDP) has been experiencing positive growth for the past five years since 2014, and is projected to continue to do so through 2024. In 2018, Vietnam’s real GDP increased by around seven 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.

Vietnam: Growth rate of real gross domestic product (GDP) from 2014 to 2024*

GDP growth compared to previous year
2024*6.5%
2023*6.5%
2022*6.5%
2021*6.5%
2020*6.5%
2019*6.5%
20187.08%
20176.81%
20166.21%
20156.68%
20145.98%
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Source

Release date

October 2019

Region

Vietnam

Survey time period

2014 to 2018

Supplementary notes

* Estimate.

Values have been rounded.

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