Vietnam GDP Growth: Rate by Year and Quarter (2018–2026)
Vietnam's real GDP grew by 8.02% in 2025, according to the country's National Statistics Office, the second-fastest annual rate of the 2011–2025 period after 2022. Growth has accelerated further in 2026: the economy expanded by 8.15% year on year in the first quarter, 8.81% in the second and an estimated 9.95% in the third, bringing growth for the first nine months to 9.01%. This page collects Vietnam's GDP growth rate by year and by quarter in one place and is updated after each quarterly release.
Last updated: 8 November 2026, with official estimates for the third quarter of 2026. The next update will follow the release of fourth-quarter and full-year 2026 figures, usually published in early January.
Vietnam GDP Growth Rate by Year
The table shows annual real GDP growth as published by Vietnam's statistics office (the General Statistics Office, since 2025 the National Statistics Office under the Ministry of Finance). Annual figures can be revised after first publication.
Year | Real GDP growth | Note |
|---|---|---|
2018 | 7.08% | |
2019 | 7.02% | |
2020 | 2.91% | Covid-19 year |
2021 | 2.58% | Covid-19 year |
2022 | 8.12% | Revised; first published as 8.02% |
2023 | 5.05% | |
2024 | 7.09% | |
2025 | 8.02% | Estimate published January 2026 |
The pattern is one of high trend growth interrupted by the pandemic: around 7% a year before 2020, a sharp slowdown in 2020–2021, a rebound in 2022, a weaker 2023 as global demand for manufactured goods softened, and a return to growth of 7–8% in 2024 and 2025. The full-year 2025 data are summarised in the statistics office's fourth-quarter 2025 report.
Vietnam GDP Growth by Quarter
Vietnam reports GDP growth quarterly, measured against the same quarter of the previous year. Quarterly estimates are often revised once more data arrive, so the table shows the latest figures available for each year.
Year | Q1 | Q2 | Q3 | Q4 |
|---|---|---|---|---|
2024 | 5.98% | 7.25% | 7.43% | 7.55% |
2025 | 7.05% | 8.16% | 8.25% | 8.46% |
2026 | 8.15% | 8.81% | 9.95% (estimate) | — |
Each quarter of 2025 grew faster than the previous one, and the fourth quarter was the strongest fourth quarter of the 2011–2025 period. In 2026 the statistics office revised its first-quarter estimate from 7.83% to 8.15% and its second-quarter estimate from 8.39% to 8.81%. The preliminary second-quarter figure was the basis of our earlier insight "Vietnam's GDP grew by 8.39% in the second quarter of 2026", which includes the fund manager's view on what the growth means for equities.
How Big Is Vietnam's Economy?
At current prices, Vietnam's GDP was estimated at about USD 514 billion in 2025, up from about USD 476 billion in 2024. GDP per capita rose to about USD 5,026 in 2025 from about USD 4,700 a year earlier, which places Vietnam in the upper-middle-income group. Per-capita income is still far below that of developed economies, which is one reason many economists see room for continued catch-up growth.
What Drives Vietnam's GDP Growth?
Industry and construction remain the main engine. In the third quarter of 2026 the sector grew by 12.5% year on year, services by 9.54% and agriculture, forestry and fisheries by 4.21%. Manufacturing for export, much of it by foreign-invested companies, has been the backbone of growth for two decades; foreign-invested firms accounted for roughly four-fifths of export turnover in the first nine months of 2026. How the industrial base developed is covered in our article on Vietnam's industrial transformation.
Other drivers are faster public investment in infrastructure, rising household consumption as incomes grow, and the shift of supply chains from China to Southeast Asia. On the expenditure side, final consumption grew by 7.95% and capital formation by 8.68% in 2025, while exports of goods and services rose by more than 16%.
Vietnam GDP Forecast for 2026
The government's target for 2026 is double-digit growth of 10% or more, as part of an ambition to grow by around 10% a year in 2026–2030. Reaching 10% for the full year would require fourth-quarter growth above roughly 12.5%, according to the statistics office's calculation after the nine-month data.
International institutions are more cautious but have raised their forecasts during the year. The IMF's October 2026 World Economic Outlook projects 8.4% growth for Vietnam in 2026, the fastest in Southeast Asia, while the World Bank raised its 2026 forecast to 7.4% in its October update, as reported by Vietnam News. Forecasts change with each release and should be read as ranges, not promises.
How to Read Vietnam's GDP Figures
- Real, year on year: headline growth is real (adjusted for inflation) and compares a quarter with the same quarter a year earlier, not with the previous quarter.
- Preliminary vs revised: first estimates are published within days of the quarter's end and are frequently revised, as the 2026 figures show.
- Cumulative figures: releases also report year-to-date growth, such as 9.01% for January–September 2026, which is not the same as the latest quarter.
- Different sources: the IMF and World Bank publish their own estimates and forecasts, which can differ slightly from national data.
Why GDP Growth Matters for Investors
Strong GDP growth supports corporate earnings, credit growth and the development of the capital market, but it does not translate one-to-one into stock market returns. Valuations, interest rates, currency moves and foreign investor flows matter as much. A milestone for market access was the reclassification of Vietnam from frontier to secondary emerging market status by FTSE Russell, effective 21 September 2026. How investors can manage the volatility that comes with a fast-growing market is discussed in our article on managing investment risk in Vietnam's equity market.
Investors can gain exposure through passive products, explained in our guide to the Vietnam ETF, or through actively managed funds such as the Lumen Vietnam Fund, managed by AQUIS Capital. For a broader macro view, see the Vietnam economic outlook 2026 and our fund manager's interview on what is driving Vietnam's next phase of growth.
Frequently Asked Questions About Vietnam's GDP Growth
What is Vietnam's current GDP growth rate?
Vietnam's GDP grew by an estimated 9.95% year on year in the third quarter of 2026, the latest official figure. Growth for the first nine months of 2026 was 9.01%.
What was Vietnam's GDP growth in 2025?
Vietnam's real GDP grew by 8.02% in 2025, according to the National Statistics Office. It was the second-highest annual growth rate of the 2011–2025 period, behind 2022.
What is Vietnam's GDP per capita?
Vietnam's GDP per capita was about USD 5,026 in 2025, up from about USD 4,700 in 2024. Total GDP was estimated at about USD 514 billion.
What is Vietnam's GDP growth target for 2026?
The government aims for growth of 10% or more in 2026. International forecasts are lower, with the IMF projecting 8.4% and the World Bank 7.4% in their October 2026 releases.
Where does Vietnam's GDP data come from?
Official GDP data are published by Vietnam's National Statistics Office, formerly the General Statistics Office, under the Ministry of Finance. The IMF and World Bank publish their own estimates and forecasts based on national accounts data.
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