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.

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Vietnam GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
3.82 6.79 8.48 3.12 2000 - 2020 percent Quarterly


Calendar GMT Actual Previous Consensus TEForecast
2019-06-28 02:00 AM Q2 6.71% 6.82% 6.1%
2019-09-28 02:00 AM Q3 7.31% 6.73% 6.9%
2019-12-27 06:30 AM Q4 6.97% 7.48% 6%
2020-03-27 06:30 AM Q1 3.82% 6.79% 2.9%
2020-06-28 02:00 AM Q2 3.82% 3.6%
2020-09-28 02:00 AM Q3 4.7%
2020-12-28 02:00 AM Q4 4.4%


News Stream
Vietnam GDP Growth Weakest since 2009
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.
2020-03-27
Vietnam GDP Growth Slows to 6.97% in Q4
Vietnam's gross domestic product expanded by 6.97 percent year-on-year in the fourth quarter of 2019, following an upwardly revised 7.48 percent growth in the previous quarter. For full year of 2019, the economy grew 7.02 percent, exceeding the National Assembly's target from 6.6 percent to 6.8 percent.
2019-12-27
Vietnam Economy Grows 7.31% in Q3
Vietnam's gross domestic product expanded by 7.31 percent year-on-year in the third quarter of 2019, following a marginally revised 6.73 percent growth in the previous quarter. This was the strongest GDP growth rate since the fourth quarter last year, as output expanded faster for industry and construction (10.05 percent vs 9.14 percent in Q2) and services (7.11 percent vs 6.85 percent). Meanwhile, agriculture, forestry and fisheries advanced softer (1.53 percent vs 2.04 percent in Q2). For the first three quarters of 2019, the economy grew 6.98 percent. Vietnam targets an economic growth of between 6.6-6.8 percent this year.
2019-09-28
Vietnam GDP Growth Weakest in 2 Years
Vietnam's gross domestic product expanded by 6.71 percent year-on-year in the second quarter of 2019, following an upwardly revised 6.82 percent growth in the previous quarter. This was the weakest growth rate since the second quarter of 2017, as output of agriculture, forestry and fisheries expanded softer (2.19 percent from 2.81 percent in Q1). Meanwhile, output grew faster for both services sector (6.85 percent from 6.50 percent) and industry and construction (9.14 percent from 8.68 percent). For first half 2019 as a whole, the economy grew 6.76 percent. Vietnam targets an economic growth of between 6.6-6.8 percent this year.
2019-06-28

Vietnam GDP Annual Growth Rate
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.