Thought for the day

Vietnam’s GDP Rises by 344% Since 1996

Vietnam GDP Growth strongly out-performs Asia and Frontier Markets


 
Last updated: 3 July 2024
 
Vietnam's GDP Growth
Index: 1995=100
Vietnam’s GDP Rises by 344% Since 1996
* GDP in Purchasing Power Parity terms with added estimates for the size of the informal economy and adjustments for out-of-date GDP base year data.


Vietnam’s output growth surged after it opened its economy to market forces. Since 1996, GDP has risen by 344%. Vietnam’s GDP has outperformed the expansion of the Asia-Pacific region (at 260%) and Frontier Markets (at 193%). The country’s ten-year cumulative annual average growth rate stood at 5.6% the seventh highest in the Asia-Pacific Region after Bangladesh 6.4% and China 6.7%.

Vietnam’s economy will benefit from a high proportion of the population under the age of 15 ready to enter the labour market at 33.6%. In addition, the country has proven to be successful at applying its labour force with a high proportion of the population in employment at 75.9%, nearly a third greater than the global median at 58.9%.  See more data...



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