Vietnam's gross domestic product advanced by 2.62 percent year-on-year in the third quarter of 2020, accelerating from a marginally revised 0.39 percent growth in the previous period, as the economy gradually returned to normal conditions, after loosening the lockdown measures to contain the spread of the coronavirus, the preliminary estimate showed. The GDP growth was driven mainly by agriculture, forestry and fisheries sectors (2.93 percent); industry and construction (2.95 percent) and service sector (2.75 percent). The economy growth in the third quarter of this year, however, remains significantly lower than an expansion of 7.31 percent recorded at the same period last year, before the pandemic. Considering the first nine months of 2020, the economy expanded 2.12 percent from a year earlier.
GDP Annual Growth Rate in Vietnam averaged 6.38 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 0.36 percent in the second quarter of 2020. 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 October of 2020. source: General Statistics Office of Vietnam
GDP Annual Growth Rate in Vietnam is expected to be 2.50 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 8.50 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.