Vietnam's gross domestic product grew by 6.79 percent year-on-year in the first quarter of 2019, following a 7.31 percent expansion in the previous quarter. This was the weakest growth rate since the first quarter last year. The growth was driven by services sector (6.50 percent from 7.61 percent in Q4), industry and construction (8.63 percent from 8.65 percent), and agriculture, forestry and fisheries (2.68 percent from 3.90 percent). Vietnam targets an economic growth of between 6.6-6.8 percent this year. GDP Annual Growth Rate in Vietnam averaged 6.52 percent from 2000 until 2019, 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.
GDP Annual Growth Rate in Vietnam is expected to be 6.10 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 5.70 in 12 months time. In the long-term, the Vietnam GDP Annual Growth Rate is projected to trend around 4.90 percent in 2020, according to our econometric models.