Vietnam's gross domestic product expanded 7.72% yoy in Q2 of 2022, much faster than a marginally revised 5.05% growth in Q1 and pointing to the the third straight quarter of expansion, flash data showed. The latest print was also the strongest pace of growth since Q4 2007 and the highest growth rate for only Q2 since 2011, boosted by a fiscal stimulus worth about $15 billion and further reopening of the economy after near 2 years of closure. Output strengthened for industry & construction (7.70% vs 6.38% in Q1), services (6.60% vs 4.58%), and agriculture (2.78% vs 2.45%). Meantime, household spending recovered further; while exports stayed solid, particularly to the US. During H1, the GDP grew 6.42% yoy, stronger than a 5.74% rise in the same period of 2021. For H2, however, the government has warned that the economy will face multiple headwinds from both soaring inflation and persistent global uncertainty. For full 2022, the economy is expected to advance of around 6% to 6.5%. source: General Statistics Office of Vietnam
GDP Annual Growth Rate in Vietnam averaged 6.19 percent from 2000 until 2022, reaching an all time high of 8.48 percent in the fourth quarter of 2007 and a record low of -6.02 percent in the third quarter of 2021. This page 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 GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on August of 2022.
GDP Annual Growth Rate in Vietnam is expected to be 8.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Vietnam GDP Annual Growth Rate is projected to trend around 5.00 percent in 2023 and 6.10 percent in 2024, according to our econometric models.