Vietnam GDP 2023 Live
The statistic shows Vietnam gross domestic product (GDP) from 1985 to 2023, with projections up until 2027. GDP in Vietnam is expected to reach $469.62 billion by the end of 2023, according to IMF expectations. In the long-term, the Vietnam GDP is projected to trend around $517 billion in 2024 and $569 billion in 2025, according to our econometric models.
GDP Growth Rate in Vietnam is expected to reach 6.16% by the end of 2023, according to IMF expectations. In the long-term, the Vietnam GDP Growth is projected to trend around 6.56% in 2024 and 6.7% in 2025, according to our econometric models.
GDP Per Capita in Vietnam is expected to reach $4,682 by the end of 2023, according to IMF expectations. In the long-term, the Vietnam GDP Per Capita is projected to trend around $5,118 in 2024 and $5,582 in 2025, according to our econometric models.
Vietnam GDP Rank 34th (Nominal) and 26th (PPP) in 2023.
Vietnam GDP 2023
As of 2023, Vietnam’s Gross Domestic Product (GDP) is expected to continue its steady growth trajectory, fueled by a resilient economy, a skilled workforce, and an increasing focus on innovation and technology.
The Vietnamese government has set an ambitious target for 2023, aiming to achieve a GDP growth rate of 6.5-7%, a figure that seems within reach given the country’s strong economic fundamentals. Vietnam’s economy has consistently performed well over the past decade, with an average annual GDP growth rate of around 6.5%.
One of the key drivers of Vietnam’s economic growth is its export-oriented manufacturing sector. Vietnam has become a major hub for manufacturing, particularly in the electronics and textile industries, thanks to its low labor costs and strategic location. In recent years, Vietnam has also made strides in developing high-tech manufacturing, including the production of smartphones, semiconductors, and electric vehicles.
Vietnam’s agriculture and tourism sectors are also significant contributors to the country’s GDP. Vietnam is one of the largest exporters of rice in the world, and its coffee, seafood, and fruit exports are also major revenue generators. The country’s tourism industry has been growing rapidly in recent years, attracting millions of visitors each year with its stunning natural landscapes, rich cultural heritage, and affordable prices.
In addition to its traditional economic drivers, Vietnam is also investing heavily in innovation and technology, with the aim of becoming a major player in the global tech industry. The government has launched several initiatives to support startups and foster innovation, including the establishment of innovation centers and tech parks, as well as the development of a national innovation ecosystem.
The COVID-19 pandemic has undoubtedly had an impact on Vietnam’s economy, particularly in its tourism and hospitality sectors. However, the government’s proactive measures to contain the spread of the virus and support affected businesses have helped to mitigate the damage. In fact, Vietnam was one of the few countries in the world to achieve positive GDP growth in 2020, with a rate of 2.94%.
Looking ahead to 2023 and beyond, Vietnam’s prospects for continued economic growth look bright. The country’s stable political climate, strategic location, and growing reputation as a hub for manufacturing and innovation are all factors that bode well for its future. However, challenges such as rising inflation, environmental concerns, and increasing competition from other emerging economies will need to be addressed in order to sustain Vietnam’s growth momentum.
Vietnan vs Top Countries by GDP
Vietnam is one of the fastest-growing economies in Southeast Asia and has made significant progress in terms of economic development over the past few decades. However, when compared to the top 10 countries in the world in terms of GDP, Vietnam’s economy is still relatively small.
Vietnam GDP Growth & Vietnam GDP per capita
Vietnam GDP 1985-2027 - Historical Data
|Year||GDP (billion US$)||GDP Per Capita||Growth (%)|