Vietnam's gross domestic product advanced 3.32% yoy in Q1 of 2023, softer than a 5.92% rise in Q4 of 2022 and pointing to the sixth consecutive period of expansion, flash data showed. The latest print also marked the weakest pace of growth since the third quarter of 2020, as foreign demand deteriorated further amid persistent cost pressures from Vietnam's major trade partners. The increase was driven mainly by agriculture, forestry, and fisheries (2.52%) and service sector (6.79%). Meanwhile, the output in industry and construction contracted by 0.4%. For this year, the government expects the economy to expand by around 6.5%, below a decade-high of 8.02% touched in 2022. source: General Statistics Office of Vietnam
GDP Annual Growth Rate in Vietnam averaged 6.23 percent from 2000 until 2023, reaching an all time high of 13.71 percent in the third quarter of 2022 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 March of 2023.
GDP Annual Growth Rate in Vietnam is expected to be 3.30 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 6.10 percent in 2024 and 5.90 percent in 2025, according to our econometric models.