Vietnam’s GDP rose by 8% in 2022, the highest in 11 years. However, relatively low growth in December and a slowdown in the manufacturing sector indicate challenges in 2023.
Vietnam’s GDP grew 13.67% (YoY) in the third quarter of 2022
Vietnam’s GDP grew at 13.67% (YoY) in the third quarter of 2022, largely helped by a rebound in the manufacturing sector and a low base effect.
Vietnam’s GDP grew 7.72% (YoY) in the second quarter of 2022, the highest in 10 years
Vietnam’s GDP grew at 7.72% (YoY) in the second quarter of 2022, the highest rate for the same quarter since 2011. The significant growth was driven by accelerating manufacturing activity and a recovery in service output.
Vietnam’s GDP eased to 5.03% (YoY) growth in the first quarter of 2022
GDP growth of Vietnam slightly dipped to 5.03% (YoY) in Quarter 1 2022, slowing from the 5.2% growth registered the Q4, 2021. Nevertheless, the continued loosening of Covid-restrictions has aided economic activity in the quarter.
Vietnam’s GDP rebounded sharply in Q4 2021, as factory activities accelerated
Vietnam’s GDP grew by 5.22% (YoY) in Q4, 2021, thanks to eased COVID-19 restrictions and the recovering of economic activities. A strong recovery was witnessed in all key sectors in the country. For the whole year, the country’s GDP grew by 2.58% – a substantial result, given the severe impact that the pandemic had on the country during 2021.
Vietnam’s GDP slumped to 6.17% (YoY) in Q3 following COVID-19 curbs
Vietnam’s GDP growth slumped to 6.17% (YoY) in the third quarter of 2021, marking the first decline since 2000. The decline is attributed to stringent pandemic policies across key areas over the past few months, including business hub Ho Chi Minh City.
Vietnam’s GDP increased by 6.61%% in Q2 2021, indicating the nation’s economic recovery
Despite the complications of the pandemic in the past few months, Vietnam’s economy witnessed a 6.61% GDP growth in the second quarter of 2021.
Vietnam’s GDP grew by 4.48% in Q1 2021, underpinned by robust export
As the country gradually returns to normal conditions, Vietnam recorded a 4.48% GDP growth (YoY) in the first three months of 2021, slightly falling behind the forecast of 5.12%.
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Vietnam’s economy accelerated in Q4 thanks to recovering manufacturing
With a drastic growth in manufacturing, Vietnam’s GDP rose by 4.48% (YoY) in Q4 2020, resulting in an annual GDP growth of 2.91% – a remarkable economic achievement in a year affected by COVID-19.
Vietnam’s economy grows in Q3 2020 compared to previous year
Due to rising manufacturing and exports, Vietnam’s GDP expanded by 2.62% (YoY) in the third quarter of the year, making it the only country in Asia besides China set for economic growth in 2020.
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