Vietnam GDP 2023 +5%

According to the latest data released on December 29, 2023, from the General Bureau of Statistics, Vietnam's economy grew by 5 per cent in 2023, easing from the 8 per cent recorded in 2022, and below government expectation of 6.5 per cent.

On a quarterly basis, the country’s GDP expanded by 6.7 per cent year on year in Q4 2023, up from 5.9 per cent reached in the third quarter.

Exports in 2023 fell by 4.4 per cent to USD 355 billion, while imports decrease 8.9 per cent to USD 327 billion, resulting in a trade surplus of USD 28 billion for the year.

Foreign direct investment into Vietnam rose by 32 per cent from a year earlier to USD 37 billion in 2023.

Vietnam is targeting GDP growth between 6 to 6.5 per cent and inflation at 4 per cent for 2024.

The International Monetary Fund estimated Vietnam GDP growth rate to be 4.7 per cent in 2023 and 5.8 per cent in 2024.

The Association of Southeast Asian Nations (ASEAN) is a political and economic union of ten members, has 667 million people and a territory of 4.5 million Km2; is currently the third largest economy in Asia-Pacific and the fifth largest in the World. The ASEAN Economic Community (AEC) has a combined GDP of USD 4.2 trillion, according to estimates for 2024.