Figures from the General Statistics Office show that Vietnam’s economy is experiencing a strong recovery during the first quarter of 2024. GDP growth is higher than in the first quarter in the 2020-2023 period, while tourism is booming and an impressive trade surplus has been posted.

Vietnam's gross domestic product (GDP) expanded by 5.66% in the first quarter of this year, the highest for the three-month period since 2020, according to the General Statistics Office (GSO).

Vietnam’s gross domestic product (GDP) in 2023 is estimated to have increased 5.05% compared to 2022, surpassing only the growth rates posted in 2020 and 2021 during the 2011-2023 period.

As 2023 is nearing its end, the Vietnam News Agency has selected the top 10 events shaping the country in the year.

The National Assembly’s resolution on the socio-economic development plan for 2024 sets a target of 6.0-6.5% growth in gross domestic product (GDP) for the year, while per capita income is expected to reach 4,700-4,730 USD.

Vietnam’s digital economy has played an important role in the country’s socio-economic development in recent times, and accounted for nearly 15% of GDP in the first half of this year, according to the Ministry of Information and Communications.

Vietnam targets becoming a developed, high-income country with an equal, democratic, and civilised society by 2050 under the national master plan for 2021-2030 with a vision to 2050. The country will strive for annual GDP growth of 6.5-7.5% between 2031 and 2050, along with per capita GDP of 27,000-32,000 USD and an urbanisation rate of 70-75% by 2050.

The contribution of the digital economy to national GDP in 2022 accounted for about 14.26% of the total, with 7.18% contributed by the ICT digital economy.

Vietnam’s Gross Domestic Product (GDP) in the first quarter of this year was estimated to increase 5.03 percent year-on-year, higher than the 4.72 percent growth rate in the same period last year, according to the General Statistics Office (GSO).

In the 10 years of implementating the socio-economic development strategy (2011-2020), Vietnam's economic growth has been maintained at a relatively high level, listed in the group of high-growth countries in the region and the world.

Estimated actual performance of socio-economic targets set for 2020

The gross domestic product (GDP) of Vietnam grew 2.12 percent year-on-year in the first nine months of 2020, according to the General Statistics Office (GSO).

Vietnam’s GDP increased 1.81 percent year-on-year during the first six months of 2020, the lowest half-year growth pace since 2011.

Vietnam’s gross domestic product (GDP) in the first quarter of 2020 is projected to grow 3.82 percent year-on-year, the lowest pace during the 2011-2020 period.

The economy posts a high growth rate, the growth quality continues to be improved, macroeconomic stability is steady.

The private economic sector invested over 26.8 billion USD in the economy during the nine-month period, accounting for 45.3% of the total social investment capital, demonstrating the sound policy of the Party on facilitating the private sector to become an important driver of the national economy.