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.

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Vietnam GDP Annual Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-12-29 02:00 AM Q4 5.92% 13.71% 8%
2023-03-29 02:00 AM Q1 3.32% 5.92% 4.8%
2023-06-29 02:00 AM Q2 3.32% 3.5%


Related Last Previous Unit Reference
GDP Growth Rate 6.88 6.73 percent Sep 2018
GDP Annual Growth Rate 3.32 5.92 percent Mar 2023
GDP Constant Prices 5545716.00 4006189.00 VND Billion Dec 2022
Gross National Product 8025800.00 5930690.00 VND Billion Dec 2021
Gross Fixed Capital Formation 2655168.80 1533217.00 VND Billion Dec 2021
GDP from Utilities 30155.00 21880.00 VND Billion Dec 2022
GDP from Transport 299265.00 222882.00 VND Billion Dec 2022
GDP from Services 2397519.00 1728262.00 VND Billion Dec 2022
GDP from Public Administration 111068.00 73938.00 VND Billion Dec 2022
GDP from Mining 156571.00 120164.00 VND Billion Dec 2022
GDP from Manufacturing 1299866.00 943954.00 VND Billion Dec 2022
GDP from Construction 363331.00 247916.00 VND Billion Dec 2022
GDP from Agriculture 604112.00 424501.00 VND Billion Dec 2022

Vietnam GDP Annual Growth Rate
In Vietnam, industry and construction constitute the biggest sector of the economy (41 percent of total GDP). Yet, in the past six years the growth in services outpaced significantly all other sectors, and today services account for 37 percent of GDP. Finally, agriculture, forestry and fishing represent 22 percent of total output.
Actual Previous Highest Lowest Dates Unit Frequency
3.32 5.92 13.71 -6.02 2000 - 2023 percent Quarterly

News Stream
Vietnam GDP Growth Slows to 3.32% in Q1
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.
2023-03-29
Vietnam Q4 GDP Growth Weakest in 3 Quarters
Vietnam's gross domestic product expanded 5.92% yoy in Q4 of 2022, much slower than a marginally revised 13.71% growth in Q3 and pointing to the fifth straight quarter of expansion, flash data showed. The latest print was also the weakest pace of growth since the first quarter. Output slowed for industry & construction (4.22% vs 12.91% in Q3), services (8.12% vs 18.86%). Meanwhile, agriculture sectors grew faster (3.85% vs 3.24%). For 2022 full year, the GDP advanced 8.02% yoy, faster than an expansion of 2.58% in 2021, when Covid-19 lockdown left a dent on the economy and impacted factory activity. The reading was higher than an official growth target of 6.0%-6.5% and the fastest since 1997.
2022-12-29
Vietnam Q3 GDP Growth Strongest Since 2000
Vietnam's gross domestic product advanced 13.67% yoy in Q3 of 2022, much faster than a 7.72% growth in Q2 and pointing to the fourth straight quarter of expansion, flash data showed. The latest print was also the strongest pace of growth at least since 2000, due to low base effects last year, when the COVID-19 broke out strongly. Output strengthened for industry & construction (12.91% vs 7.70% in Q2), services (18.86% vs 6.60%), and agriculture (3.24% vs 2.78%). Considering the first three quarters of the year, the GDP expanded 8.83% yoy, which was the highest increase of 9 months in the period 2011-2022, as production and business activities gradually regained growth momentum, policies recovered, and the government's socio-economic development has brought into full play. For full 2022, the economy is expected to grow of around 6% to 6.5%.
2022-09-29