Vietnam's economy to hit $500 billion by 2025, climbing to 33rd globally

Posted on October 22, 2024   |  

Vietnam's GDP is expected to grow by about 7% this year, exceeding the 6–6.5% target for 2023.

The economy is set to maintain an average annual growth of 6% from 2021 to 2025.

GDP has risen from $346 billion in 2020 to $433 billion in 2023, with GDP per capita projected to increase from $3,720 in 2021 to $4,900 by 2025, a 32% rise.

The government aims for 6.5–7% GDP growth and a consumer price index of around 4.5%.

By 2030, Vietnam targets 7.5–8.5% annual GDP growth, with per capita GDP reaching $7,400–$7,600, making it an upper-middle-income country with an economy of $780–800 billion.

At this rate, Vietnam is expected to join the top 30 global economies and become a high-income, developed nation by 2045.