The economic architecture of Vietnam is substantial, anchored by a Gross Domestic Product (GDP) of approximately $429.72B
2023
. This places it as the 35th largest economy out of 192 countries measured, underscoring its significance on the world stage. On a per capita basis, GDP stands at $4.28K
2023
, while its GDP adjusted for Purchasing Power Parity (PPP) is estimated at $1.5T, offering a clearer picture of the population's domestic purchasing power. The economy is experiencing a period of vigorous expansion, with a high growth rate of 5.0%
2023
, while managing moderate inflation, with a CPI of 3.6%.
2024
On the global stage, Vietnam's trade and financial dynamics reveal a complex interplay of international and domestic factors. The country maintains a strong export-oriented economy, reflected in a significant trade surplus, with exports representing 87.2% of GDP compared to imports at 79.1%
2023
. The investment climate attracts significant Foreign Direct Investment (FDI), with inflows constituting 4.31% of the economy
2023
. This performance positions the country 44th globally out of 187 nations, confirming its status as a competitive destination for foreign capital. Furthermore, personal remittances from its diaspora are a vital component of the economy, amounting to a substantial $14B annually
2023
.
The socio-economic landscape is characterized by a Gross National Income (GNI) per capita of $4,110
2023
, ranking the nation 123rd out of 191. This figure provides a comprehensive measure of the average income per person, reflecting the nation's overall economic well-being. The labor market demonstrates considerable strength, with a low unemployment rate of 1.4%, suggesting conditions close to full employment.
2024
A key feature of the workforce is its concentration in the services sector, which accounts for 35.8% of total employment
2023
. Despite its economic standing, poverty remains a salient issue, with 4.3% of the population living below the national poverty line
2022
. The nation exhibits a moderate degree of income inequality, with a Gini index of 36.1.
2022
In the environmental and energy sectors, the nation's policies and outcomes reflect its developmental priorities. Energy consumption per capita stands at 1,023.057 kg of oil equivalent
2022
, a metric that often correlates with industrial activity and living standards. A significant commitment to sustainability is evident, with renewable energy accounting for 24.2% of consumption
2021
. This commitment places it 98th among 191 countries, highlighting its relative progress in decarbonization. Total greenhouse gas emissions were last recorded at 524.13K tonnes of CO2 equivalent
2023
, a key factor in its national climate strategy and international obligations.

Key Economic Insights

Macroeconomic Health

The economy exhibits robust health, characterized by a "Goldilocks" scenario of strong growth, low inflation, and low unemployment.

Trade & Investment Profile

The orientation towards global trade and foreign investment is a defining feature of the economic landscape.

Social Equity & Distribution

Ensuring equitable distribution of economic gains is fundamental for long-term social and political stability.

Energy & Sustainability

The transition to a sustainable energy framework is paramount for mitigating climate risk and securing future energy needs.

More About This Country

Neighbors & Regional Peers

Note: The information on this page has been compiled from authoritative sources. While every effort is made to ensure accuracy, please note that some figures may not be current or entirely precise.