The GDP growth rate started to recover in the next quarters, resulting in an overall GDP growth rate of 2.91 percent in 2020. “Vietnam has generated more than $1.2 trillion in GDP within the recent five years,” said Prime Minister Nguyen Xuan Phuc while chairing the government meeting with local authorities on December 28 and 29. Vietnam’s GDP growth estimated at 2.91 pct this year, ADB forecasts Vietnam GDP growth at 2.3 per cent in 2020, ASEAN-UK open-ended troika virtual meeting held, Vietnam's beer production fell 14 per cent in 2020, AstraZeneca jab clots link plausible but unconfirmed: WHO experts, UK businesses not sold on vaccine passport idea, Nestlé supports equitable COVID-19 vaccination through COVAX, Gender Lens Investing a treasure trove of economic momentum, Local mergers and acquisitions portray businesses’ confidence, NA approves appointment of 12 new ministers, Gov’t members, Vietnamese cloud computing market appeals suppliers, Recycled plastic bottles become new trend of green consumption, Island properties driving interest of high-class buyers, Economy growing strongly on back of COVID-19 endgame, Airlines catch glimpse of light at the end of tunnel, Blame game begins as Suez blockage dents trade routes, Quick cash alternative in international bonds, Vietnam's export to EU hit nearly $10 billion in first quarter, Fitch Ratings revises Vietnam's outlook to positive, Pham Minh Chinh elected Prime Minister of Vietnam, MoIT proposes 35 percent cap on foreign investment in petrol market, Thai provinces fear virus surge out of Bangkok ahead of holidays, Newcastle boost survival bid as Man Utd eye Spurs revenge, Real Madrid edge thrilling Clasico to go top of La Liga, Based on MasterCMS Ultimate Edition Ver 2.9 2020, Vietnam has generated more than $1.2 trillion in GDP within the recent five years. With a GDP growth of 2.8 percent, Vietnam will be among the fastest-growing economies in a Covid-19-ravaged world this year, the World Bank says. After a long period of seeing expansion below 7 per cent, Việt Nam’s GDP grew 7.02 per cent in 2019, higher than the target set by the National Assembly and the second year economic growth has surpassed 7 per cent. A paid subscription is required for full access. tinnhanhchungkhoan.vn |  With this, the country has surpassed the regional powerhouses of Singapore and Malaysia. March 27, 2020, 2:28 AM EDT Economy expanded 3.82% from year ago, statistics office says Economists surveyed forecast first-quarter GDP growth of 5.1% Estimates by world bank since 1961. Vietnam’s GDP in 2020 grows at an impressive pace of 2.91%, the lowest in a decade but among the world’s highest, the General Statistics Office (GSO) has announced. Notably, this organization forecasted Vietnam's economic growth to be negative in the worst scenario. Contrary to the world’s gloomy economic picture, our country’s economy continued to achieve positive growth when GDP in 9 months of 2020 increased by 2.12%, of which the first quarter went up by 3.68%; the second quarter increased by 0.39% and the third quarter rose by 2.62%. Managing Editor: Nguyen Chi Mai, Vietnam Investment Review under the Ministry of Planning and Investment Chart. Overview and forecasts on trending topics, Key figures and rankings about brands and companies, Consumer insights and preferences in various industries, Detailed information about political and social topics, All key figures about regions and countries, Everything you need to know about Consumer Goods, Identify market potentials of the digital future, Technology Market Outlook Vietnam gdp growth rate for 2017 was 6.81%, a 0.6% increase from 2016. Workers produce masks at a garment factory in the southern province of Long An in February 2020. According to the International Monetary Fund (IMF), the World Bank (WB) and many world economic organizations, Vietnam’s GDP in 2020 is expected to have the highest growth rate in the world. Therefore, it is necessary to develop new standards for growth such as jobs and income. Viet Nam's GDP is expected to grow by 1.8% in 2020 and 6.3% in 2021 – ADO 2020 Update Viet Nam's inflation rates forecasted at 3.3% in 2020 and 3.5% in 2021 – ADO 2020 Update GDP growth It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Vietnam, however, remains the only country among major economies in ASEAN – 5 (Thailand, Malaysia, Indonesia, the Philippines, and Vietnam) expected to deliver positive growth this year. According to the Minister of Planning and Investment, the government targeted a GDP growth of around 8.5% in 2007. Notably, the IMF predicted the Philippines to have the biggest GDP decline this year among its regional peers, with a contraction of 8.3%, compared to a 3.6% decline projected in June. 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. Vietnam Economy 2020 – the bright spot in the middle of the pandemic In the midst of the Covid-19 epidemic, the global economy in […] However, amid the Covid-19 outbreak, which has negatively affected all socio-economic fields, this is a great success of Vietnam. (January 6, 2021). 1021-318X Directly accessible data for 170 industries from 50 countries Please do not hesitate to contact me. The International Monetary Fund pointed out that Vietnam’s GDP exceeded $340 billion, placing among the 40 largest economies in the world. Vietnam economy is expected to grow by 2.7% in 2020, according to IMF. After annual GDP growth rates of about 7% over the past five years, economic growth is expected to slow down to 2.3% in 2020. In the second scenario, if the pandemicis prolonged and only completely controlled in the second half of the third quarter of 2020, the annual GDP growth will be 1.5%. Quick Analysis with our professional Research Service: Content Marketing & Information Design for your projects: Industry-specific and extensively researched technical data (partially from exclusive partnerships). Bui Duc Hai, Nguyen Van Hong and Data from IMF here and here. Vietnam’s GDP growth in 2020 must reach 5 per cent, higher than the 2.7 per cent the International Monetary Fund (IMF) has forecast, Prime Minister Nguyen Xuan Phuc has said. This is the lowest growth in the period 2011-2020. Vietnam is likely the top-performing Asian economy in 2020 — a feat that was achieved without a single quarter of economic contraction. Then you will be able to mark statistics as favourites and use personal statistics alerts. The International Monetary Fund (IMF) has revised down its forecast for Vietnam’s GDP growth to 1.6% in 2020 from a previous estimate of 2.7% in June. It is necessary to map out a specific itinerary to adapt to the new normal,” said Phan Ngoc Tho, Chairman of Thua Thien-Hue People’s Committee. ", Vietnam Investment Review, Growth of the gross domestic product (GDP) in Vietnam in 2020, by quarter Statista, https://www.statista.com/statistics/1195301/vietnam-gdp-growth-rate-by-quarter/ (last visited April 11, 2021), Growth of the gross domestic product (GDP) in Vietnam in 2020, by quarter, Number of new coronavirus (COVID-19) cases in Europe 2021, Coronavirus (COVID-19) new cases in the CEE region 2020, Number of coronavirus cases in Poland 2020-2021, Coronavirus (COVID-19) new cases in Poland 2020-2021, Coronavirus (COVID-19) new cases in Poland 2020-2021, by date of report, COVID-19 new cases per 100 thousand inhabitants in Poland 2021, by region, Number of coronavirus (COVID-19) deaths in Poland 2020-2021, Number of coronavirus (COVID-19) deaths in Poland 2020-2021, by date of report, Coronavirus (COVID-19) tests performed in Poland 2020-2021, Employment and salaries change due to the COVID-19 in Poland 2020, Change in GDP during the COVID-19 epidemic in Poland 2018-2020, Unemployment rate during the COVID-19 epidemic in Poland 2020-2021, People terminated for company reasons during the COVID-19 epidemic in Poland 2020, Number of job offers during the COVID-19 epidemic in Poland 2020-2021, Sold production of industry during COVID-19 pandemic in Poland 2020, by sector, Restrictions imposed by companies as a result of COVID-19 epidemic in Poland 2020, Popular stockpiling products during COVID-19 outbreak in Poland 2020, Increase in sales of FMCG products in Poland, by products, Change in retail sales during the COVID-19 epidemic in Poland 2020, by product type, Shopper numbers: retail footfall year-on-year change (monthly) in Poland 2018-2020, Turnover change of stores operating in shopping centers due to COVID-19 Poland 2020, Change in the turnover of shopping centers due to coronavirus pandemic in Poland 2020, Share of sales via Internet in retail sales in Poland 2020, by product type, Changes in spending money on purchases caused by COVID-19 in Poland 2020, Holiday plans during COVID-19 in Poland 2020, Important factors when planning a holiday after the COVID-19 epidemic in Poland 2020, Purposes of using the money from financial support for holidays in Poland 2020, Impact of the coronavirus epidemic on hotel reservations in Poland 2020, Number of tourists in accommodation establishments in Poland 2019-2020, Tourists' spending during the COVID-19 epidemic in Poland 2020, by voivodship, Sanitary regime in hotel facilities due to COVID-19 in Poland 2020, Number of people hospitalized due to the coronavirus (COVID-19) in Poland 2020-2021, Number of people monitored because of coronavirus (COVID-19) in Poland 2020-2021, Number of people quarantined because of coronavirus (COVID-19) in Poland 2020-2021, Medicines used/purchased more often due to the coronavirus pandemic in Poland 2020, Importance of telemedicine services during the COVID-19 pandemic in Poland 2020, Opinion on visits to a doctor during the COVID-19 epidemic in Poland 2020, Access to medicines during the coronavirus (COVID-19) epidemic in Poland 2020, Personal protective equipment in oncological center during coronavirus in Poland 2020, Attitudes towards COVID-19 pandemic in Poland 2020, General worries of Poles during COVID-19 2020, Positive influences of the COVID-19 outbreak in Poland 2020, Personal experience under COVID-19 in Poland 2020, Government's handling of crisis due to COVID-19 in Poland 2020, Preventive measures during COVID-19 outbreak in Poland 2020, Opinion on the relaunching of socio-economic activities due to COVID-19 Poland 2020, Impact of COVID-19 on personal networks in Poland 2020, Quarterly domestic production of PV cells in Japan FY 2017-2018, Titan Company watches volume change 2016-2020, Consumer spending in South Africa 2016-2020, by quarter, Quarterly Canadian sales growth of Reitmans 2018-2019, United States: quarterly ecommerce sales growth of Walmart 2018-2021, Reward-based crowdfunding: Quarterly market value in the UK 2014-2015, lululemon's quarterly comparable sales growth worldwide from 2017 to 2019, Pension-led funding: Quarterly market value in the UK 2014-2015, Quarterly growth of online food sales in Sweden 2015-2018, by type, Quarterly Canadian sales growth of Lululemon 2018-2020, Equity crowdfunding: Quarterly market value in the UK 2014-2015, Marijuana tax revenue per capita in the United States in 2019, by state, Quarterly Canadian sales growth of Walmart 2017-2020, Quarterly growth rate of online food sales in Sweden 2015-2018, Factors influencing decision to use invoice trading in the United Kingdom (UK) 2014, Quarterly residential application PV module domestic shipment in Japan FY 2018-2019, Donation-based crowdfunding: Quarterly market value in the UK 2014 and 2015, Debt-based securities: Quarterly market value in the UK 2014-2015, Find your information in our database containing over 20,000 reports, Tools and Tutorials explained in our Media Centre. Corporate solution including all features. “For now, economic recovery and seizing opportunities for economic development should be given priority. Key View. As a Premium user you get access to background information and details about the release of this statistic. Vietnams growth is projected to moderate to 6.6 percent in 2019, driven by credit tightening, slower private consumption and weaker external demand. GDP growth (annual %) - Vietnam. Vietnam gdp growth rate for 2018 was 7.08%, a 0.26% increase from 2017. timeoutvietnam.vn Register in seconds and access exclusive features. Generally, in 2020, Vietnam's GDP grew by 2.91%. 2021 is forecast to be a tough year and the premier reminded that economic recovery and developing production and pandemic prevention should remain the leading mission. Despite being modest, these rates are encouraging considering that Vietnam is one of few countries that achieved positive growth during the pandemic. HANOI, Sept 4 (Reuters) - Vietnam is targeting a gross domestic product growth of 2.0%-2.5% this year and 6.7% next year, the government said on Friday. Subscribe now and receive the latest news and updates! In the most optimistic scenario, annual growth will be 4.2%. ADB forecasts Vietnam GDP growth at 2.3 per cent in 2020 AstraZeneca jab clots link plausible but unconfirmed: WHO experts UK businesses not sold on vaccine passport idea You need at least a Single Account to use this feature. Meanwhile, the World Bank listed Vietnam in the top 10 highest growing countries. The 2020 forecast is likely to be revised down in the subsequent Consensus Forecast in light of the Q1 GDP figures. IMF includes the 2021 forecast as well but given the uncertainty around COVID 19, I choose not to include the numbers here. The prime minister said that economic growth no longer depended on any single economic sector. You can only download this statistic as a Premium user. GDP growth accelerated to 4.5% year-on-year in the final quarter of 2020, from 2.7% in the third quarter. Statista. You only have access to basic statistics. Vietnam Investment Review. Contact us, Editor-in-Chief: Photo by VnExpress/Quynh Tran. GDP Growth and GDP per capita Growth of Vietnam. Vietnam is estimated to gain a GDP growth of 3.82% in the first quarter of this year, the lowest in the 2011-2020 period, the country's General Statistics Office announced last Friday. Learn more about how Statista can support your business. facts. Fax: (024) 3845 7937; E-mail: vironline@vir.com.vn. Projections by IMF. Please authenticate by going to "My account" → "Administration". Vietnam's economic growth fell to its slowest pace in at least 30 years in the second quarter due to the impact of the coronavirus pandemic, putting the government's 2020 … Advertisement |  You need a Single Account for unlimited access. HCMC - Vietnam is projected to obtain an estimated gross domestic product (GDP) growth rate of 2.91% for 2020, the lowest in the 2011-2020 period but among the … Le Trong Minh Small open economies, such as […] Vietnam now look to be the most vulnerable.” Panelists currently see GDP expanding 5.2% in 2020, which is down 1.3 percentage points from last month’s forecast, and 7.0% in 2021. Are you interested in testing our corporate solutions? Growth of the gross domestic product (GDP) in Vietnam in 2020, by quarter [Graph]. Facebook: number of monthly active users worldwide 2008-2020, Smartphone market share worldwide by vendor 2009-2020, Number of apps available in leading app stores 2020, Profit from additional features with an Employee Account. Available to download in PNG, PDF, XLS format, Access to this and all other statistics on 80,000 topics from, COVID-19 deaths worldwide as of April 8, 2021, by country, COVID-19 cases worldwide as of April 8, 2021, by country, Coronavirus (COVID-19) new cases in Poland 2020-2021, by region, Number of coronavirus (COVID-19) cases in Europe 2021, by country. However, a 5.4% growth rate would still help Vietnam ensure its average GDP growth during the 2016 – 2020 period at 6.5%, Dung added. Please contact us to get started with full access to dossiers, forecasts, studies and international data. Licence No. As plenty of economies are hit hard by COVID-19, Vietnam has come out on top with the GDP growth rate of nearly 3 per cent, listed among the top 10 economies with the highest growth. Address: 47 Quan Thanh St, Ba Dinh Distr, Hanoi, Vietnam - Tel: (024) 3845 0537, International reg: Registered as a newspaper at the Post Office, London, Serial No. New, Everything you need to know about the industry development, Find studies from all around the internet. Update, Insights into the world's most important technology markets, Advertising & Media Outlook PM Phuc also said that although GDP growth is meaningful for the country, it does not fully reflect the face of the economy such as the contribution of the government and local authorities. Then you can access your favorite statistics via the star in the header. Nguyen Quoc Viet Accessed April 11, 2021. https://www.statista.com/statistics/1195301/vietnam-gdp-growth-rate-by-quarter/, Vietnam Investment Review. Please create an employee account to be able to mark statistics as favorites. The International Monetary Fund (IMF) maintains its forecast for Vietnam’s GDP growth at 2.7% in 2020, the highest in Asia, and the pace is expected to speed up to 7% in 2021. 2.7% real GDP growth for Vietnam is … Deputy Editors-in-Chief: In, Vietnam Investment Review. This feature is limited to our corporate solutions. However, despite this decrease, Vietnams is one of the few economies in the world that is not facing a contraction this year. With positive results in 2019, Việt Nam’s economy is expected to maintain good growth in 2020. This was the slowest GDP growth rate since the series began in 2000, hampered by the coronavirus pandemic and weaker global demand. New, Figures and insights about the advertising and media world, Industry Outlook Inflationary pressures are projected to remain moderate, due to subdued global demand conditions and moderate global energy and food prices. This statistic is not included in your account. Over the medium term, growth is projected to stay around 6.5 percent, as the impact of current cyclical uptick dissipates. Poverty is expected to decline further, as labor market conditions remain favorable. Whether state-owned enterprises or foreign-invested companies, the role of the private sector is growing into an important motivation for the country stipulated in Resolution No.10/NQ-TW. "Growth of the gross domestic product (GDP) in Vietnam in 2020, by quarter ." Vietnam had an average GDP growth of 7.1% a year from 2000 to 2004. Vietnam gdp growth rate for 2019 was 7.02%, a 0.06% decline from 2018. Profit from additional features by authenticating your Admin account. "Growth of The Gross Domestic Product (Gdp) in Vietnam in 2020, by Quarter . Nevertheless, this placed total GDP growth for 2020 at 2.9%, the lowest outturn in at least two decades and far below Real GDP growth eased to 7.0% y-o-y in Q419, from an upwardly revised 7.5% y-o-y in Q319, due mainly to an easing of growth in the industrial sector. The ideal entry-level account for individual users. baodautu.vn |  Data released by the General Statistics Office (GSO) estimated a 1.81 percent growth to Vietnam’s GDP in the first half of 2020. World Bank national accounts data, and OECD National Accounts data files. “In 2020 alone, with the pandemic overruning many countries, the Vietnamese economy still maintained positive growth.”. The economy could be subject to a strong rebound of 7% GDP growth rate in 2021. The International Monetary Fund has revised upward its forecast for Vietnam’s 2020 GDP growth by 0.8 percentage points to 2.4 percent. The GDP growth was 8.4% in 2005, the second-largest in Asia, trailing only China's. Through its wide network of free trade agreements, Vietnam has been constantly expanding foreign trade activities to many new markets while also focusing on the domestic market. The government estimated that GDP grew in 2006 by 8.17%. SLOOINP; ISSN No. Vietnam's gross domestic product expanded by 0.36 percent year-on-year in the second quarter of 2020, following a 3.83 percent growth in the previous period, the preliminary estimate showed. January 6, 2021. As soon as this statistic is updated, you will immediately be notified via e-mail. Q4's reading marked the strongest growth since Q4 2019 as the economy seemingly continued to emerge from the inhibiting shackles of the Covid-19 pandemic. The rate is already the highest the IMF has predicted for any Southeast Asian country this year, with the COVID-19 pandemic wreaking economic havoc around the world and threatening to drive the global economy … Vietnam GDP growth among world's highest in 2020: GSO. Ngoc Thuy. Vietnam’s consumer price index is set at 3.2%, lower than the estimation of 4% this year. and over 1 Mio. We at Fitch Solutions maintain our 2020 real GDP growth forecast for Vietnam at 6.8%. Vietnam records an economic growth of 2.91% - an impressive achievement amid gloomy global forecasts. As a Premium user you get access to the detailed source references and background information about this statistic. 87/GP-BTTTT ★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional.