Vietnam GDP Annual Growth Rate

Last Release

Dec 31, 2024

Actual

7.55

Units In

7.4

Frequency

Quarterly

Next Release

Mar 28, 2025

Time to Release

2 Months 18 Days 2 Hours

Highest	Lowest	Average	Date Range	Source
13.71 Sep 2022	-6.02 Sep 2021	6.24 %	2000-2024	General Statistics Office of Vietnam

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.

Latest Updates

Vietnam’s GDP expanded by 7.55% year-on-year in Q4 2024, accelerating from a revised 7.43% growth in Q3 while marking the steepest rise since Q3 2022, according to flash data. The latest figure represented the 13th consecutive quarter of yearly increase, bringing the full-year figure to 7.09%, higher than the National Assembly’s target of 6 to 6.5% and the 2023 level of 5.05%. In Q4, final consumption, which accounts for about 60% of overall growth, rose solidly by 7.54%, with fixed investment increasing firmly by 7.98%. On the trade front, exports jumped by 11.35%, underscoring robust overseas demand toward the end of the year. By sector, services activity quickened (8.21% vs 7.51% in Q3), as did agricultural output (2.99% vs 2.58%). Meanwhile, industrial output (8.35% vs 8.98%) and construction (8.35% vs 9.11%) experienced slower growth. Vietnam has set an official 2025 GDP growth target of 6.5% to 7.0%, with Hanoi preparing for an annual growth rate beyond 10% in 2026-2030.