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.
GDP Annual Growth Rate in Vietnam averaged 6.51 percent from 2000 until 2020, reaching an all time high of 8.48 percent in the fourth quarter of 2007 and a record low of 3.12 percent in the first quarter of 2009. This page provides the latest reported value for - Vietnam GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Vietnam GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on May of 2020. source: General Statistics Office of Vietnam
GDP Annual Growth Rate in Vietnam is expected to be 3.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Vietnam to stand at 6.50 in 12 months time. In the long-term, the Vietnam GDP Annual Growth Rate is projected to trend around 6.50 percent in 2021, according to our econometric models.