According to the General Statistics Office (GSO), Vietnam recorded GDP growth of 7.09% in 2024, significantly surpassing the initial target of 6-6.5% set by the National Assembly.
This performance marks a clear progression compared to 2023, where growth peaked at 5.05%, and especially compared to the pandemic years, where rates fell to 2.58% in 2021 and 2.91% in 2020. .
A remarkable performance
Although slightly lower than the peak of 8.02% reached in 2022, this result confirms a solid recovery and a gradual return to growth levels similar to those before the pandemic, as in 2019 with 7.02%. At the end of 2024, Vietnam’s GDP stood at $476.3 billion, with per capita income estimated at $4,700.
The different sectors of the economy played a crucial role in this growth:
- Services : 42,36 %
- Industry and construction : 37,64 %
- Agriculture, forestry and fishing : 11.86% you PIB
- Other sectors : 8,14 %
Heading towards 2025 and beyond
For 2025, Vietnam is setting the bar even higher with a growth target of 8%, well beyond the forecasts of the Asian Development Bank (6.6%) and Oxford Economics (6.5%). Prime Minister Pham Minh Chinh said in December that this ambition is essential to achieve annual growth above 10% over the period 2026-2030.
Despite the challenges that remain numerous, the ambitious objectives demonstrate the country’s desire to strengthen its position on the global economic scene.
