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The economy of Vietnam is a developing mixed socialist-oriented market economy. [3] It is the 33rd-largest economy in the world by nominal gross domestic product (GDP) and the 26th-largest economy in the world by purchasing power parity (PPP).
Vietnam’s shift from a centrally planned to a market economy has transformed the country from one of the poorest in the world into a lower middle-income country. Vietnam now is one of the most dynamic emerging countries in East Asia region.
GDP (current US$) - Viet Nam from The World Bank: Data.
Viet Nam’s economy is forecast to grow 6.1 percent in 2024, and 6.5 percent in both 2025 and 2026, up from 5 percent last year, according to the Bank’s latest Taking Stock report. The report highlights the resilience of the Vietnamese economy despite rising global challenges.
Viet Nam's economy is showing mixed signs of recovery, with growth forecast to reach 5.5% in 2024 and gradually rise to 6.0% by 2025, according to the latest World Bank Taking Stock bi-annual economic update released today.
The snapshot offers a concise summary of Viet Nam's economic trends and prospects, drawing from the OECD Economic Survey, delivering in-depth analyses of economic trends, suggested policy recommendations, alongside an overview of structural policy developments.
Overview In 2022, Vietnam was the number 35 economy in the world in terms of GDP (current US$), the number 19 in total exports, the number 20 in total imports, the number 120 economy in terms of GDP per capita (current US$) and the number 55 most complex economy according to the Economic Complexity Index (ECI) .
with Vietnam. Vietnam began 2020 following a prolonged period of high growth. The last three decades of market-oriented reform supported a structural transformation from agriculture to a modern economy based on FDI -led manufacturing, lifting Vietnam from one of the poorest countries in the world to lower middle- income status.
Vietnam’s economy has continued to grow at the highest rate in Southeast Asia. Future challenges for the country include how to continue economic liberalization and societal opening while maintaining stability and a relatively low level of inequality.
Want to get insight on the economic outlook for Vietnam in the coming years? FocusEconomics collects projections out to 2034 on 49 economic indicators for Vietnam from a panel of 27 analysts at the leading national, regional and global forecast institutions.