VIETNAM – RAPID GPD GROWTH & TREND

VIETNAM NOW IS ONE OF THE MOST DYNAMIC EMERGING COUNTRIES IN EAST ASIA REGION

  • GDP of 2018 increased by 6,4%, is the second highest increase since 2008
  • Vietnam’s GDP is expected to grow 6,8% in 2019.

In the first quater of 2019, the country had 28,451 enterprises registered for new establishment with many of them based in Hanoi (total registered capital of 375.5 trilion dongs, a rise of 6.2% in the number of enterprise and an increase of 34,8% in the registered capital compared with the same period in 2018)

Vietnam’s gross domestic product advanced by 3.82 percent year-on-year in the first quarter of 2020, following a downwardly revised 6.79 percent growth in the previous period. This was the slowest GDP growth rate since the second quarter of 2009, hampered by the coronavirus pandemic and weaker global demand. Manufacturing rose 7.12 percent, services advanced 3.27 percent and agriculture went up only 0.08 percent. The government is targetting an economic growth of 6.8% this year, but warned that it could slow to 6% if the virus effects continue in the second quarter.

PWC forecasts Vietnam to continue maintaining high economic growth in the region in the period of 2016 – 2050, ranking from 32nd to 20th worldwide
Source: Statebank Vietnam, PWC