ASART EMPOWERS YOU WITH INSIGHTS.

In 2024, Vietnam achieved significant accomplishments, surpassing the same period last year and meeting all 15 goals set at the beginning of the year. The GDP growth rate for 2024 reached 7.1%, raising the country’s GDP to VND 11,512 trillion, equivalent to approximately USD 476 billion, while GDP per capita reached USD 4,700, an increase of USD 377 compared to 2023.

In November 2024, Vietnam's socio-economic situation continued its positive recovery trend. Overall, the first 11 months saw significant achievements, surpassing the same period last year across most sectors. The agriculture, industry, and service sectors all recovered and developed well. Notably, the industrial production index in November increased by 2.3% compared to October and 8.9% year-over-year, resulting in an 8.4% growth rate over the 11 months.

In October 2024, Vietnam's economy sustained positive growth across all three key sectors. The agriculture sector continued its steady growth trajectory, while the industrial sector advanced robustly, with a 4% increase compared to September and a 7% year-over-year rise, leading to an 8.3% growth rate over the first ten months of the year.

In September 2024, Vietnam's economy recorded impressive growth, with many sectors achieving significant results that create momentum for development in the remaining months of the year. Bilateral trade between Vietnam and international partners continued to rise, contributing to the positive growth of total import-export turnover.

In August 2024, Vietnam’s economy experienced stable, rising deposit interest rates, and impressive trade growth. The inflation rate demonstrates a better result in this month when it increases modestly compared to the previous month. The deposit rate experienced an increase from various banks, which had Big 4. The bilateral trade between Vietnam and many other partners surged continuously prompting to trade surplus.

July was the second month in a row witnessing a surprisingly strong economic growth in Vietnam. The recovery of production, import and export in the region including Vietnam has continued. The tourism sector has also experienced a strong recovery, reaching 1.15 million international visitors, a 51% increase compared to the same month in 2023.

Vietnam’s macroeconomy data showed a significant growth in June. Contradicting with the conservative results and views of the first quarter which recorded only 5.7% growth, GDP of the second quarter reached 6.9%, driven by a recovery in exports, risen investment disbursement, and more efficient credit operations.