04 percent (y-on-y),” Statistics Indonesia, February 5, 2024. 00% on September 22, and we expect an additional 50bps The Vietnamese economy recorded average real GDP growth of 6. — VNA/VNS Photo Mỹ Phương. Vietnam finished 2021 with a 2. 2% in 2023 following strong 8. Jan 22, 2023 · In late 2021 and early 2022, Việt Nam had high hopes that public investment would be the driving force for post-pandemic recovery. Topic: vietnam economy. Near-Term Resilience, Persistent Challenges. We believe that Vietnam could deliver an encouraging economic performance of 6. Continuing to benefit from an ongoing China + 1 strategy, Vietnam witnessed healthy inbound investments, with foreign direct investment rising to USD 36. Nevertheless, with significant challenges ahead, Viet Nam needs to Vietnam’s GDP expanded 5. Jan 13, 2022 · The outlook, however, is subject to serious downside risks, particularly the unknown course of the pandemic. 0% y/y in 2022. 7 percent in 2022 to 1. 24 per cent in the first nine months of this year, the General Statistics Office (GSO) said on Friday. 9% in Q422, and we at Fitch Solutions remain cautious about the outlook for 2023. 7% in 2024. May 10, 2024. So far, Vietnam’s economy outlook remains positive with an expected 2023 GDP growth of over 6% (by Fitch, International Monetary Fund (IMF), and Asian Development Bank (ADB)). 1%, Vietnam has been unable to meet the 2023 annual growth target […] Dec 29, 2023 · HANOI -- Vietnam's economy expanded 5. 1. 33% yoy in Q3 of 2023, faster than a marginally revised 4. 9% year-on-year in the first quarter of 2023. 21% Vietnam dominated Southeast Asia's digital boom in 2023, with its digital economy surging 19% to US$30 billion. 05% in the second quarter (which was revised down from 4. 5% in 2024 and gradually rise to 6. Dive into the report's insights by registering for our global webinar , and regional focused webinar on Asia Pacific insights . 0% by 2025, according to the latest World Bank Taking Stock bi-annual economic update released today. The growth forecast for 2024 is unchanged at 4. The State Bank of Vietnam (SBV) has already lifted its benchmark refinancing rate by 100 basis points (bps) to 5. Consumption decreased (illustrated through negative retail growth) but has been recovering since then. 5% this year may be at risk amid a global slowdown weighing on exports, lingering crisis in the local property sector and higher interest rates hampering It was followed by China and the EU. World Economic Outlook Selected Topics 173 IMF Executive Board Discussion of the Outlook, March 2023 183 Tables Table 1. 7 percent higher than the same period in 2022, despite global uncertainties, thanks to continued confidence in Vietnam’s stability and openness. The Vietnamese economy as measured by GDP has expanded by 8. 7%. 8%. Projections for 2024's growth hinge on global economic recovery, improvement in the country's energy capacity, training and Sep 6, 2022 · September 6, 2022. 05% in 2023, missing the government's official growth target of 6. Thank you Cimigo team for supporting us. 2% for 2023, which is impressive given that the world is in the midst of a significant slowdown trend. 5 | 2023 Outlook Mirae Asset Securities (Vietnam) Research I. 02:46. Inflation Rate Real GDP Growth The government hopes to attract private investment to finance this development which will aid recovery for 2023. Apr 4, 2023 · The latest data from the General Statistics Office (GSO has shown Việt Nam's economic recovery remains bumpy, putting pressure on upcoming quarters to achieve the Government's socio-economic goals for the year. 4 billion), approved by the National Assembly from the beginning of 2022. Nov 7, 2023 · In Vietnam, inflation has been trending upwards as domestic economic activity drives up imports and the depreciatory trend of the dong continues, weighing on the price of imports. 2% in 2023. Meanwhile, mild contractions in economic activity are expected in the UK and some major EU economies such as Germany and Italy. Vietnam’s economic growth is projected to be still positive in the short term, according to the Dec 19, 2022 · Figure 1. That's not to mention a two-year Socio-economic Recovery and Development Programme from 2022-2023 with support money amounting up to VNĐ350 trillion (US$15. Tourism, known as Thailand’s key engine for economic growth in pre-Covid, is recovering from more relaxed Nov 5, 2023 · The 14th annual world economic outlook report (World Economic League Table) of CEBR Consulting Center (UK) has just announced the assessment of Vietnam as the 34th largest economy in 2023 with a GDP scale of 434 billion USD. 33% in the third quarter of 2023, indicating a positive trend with consecutive quarterly increases compared to 3. 2023-12-29. Tim Leelahaphan, Economist for Thailand and Vietnam at Standard Chartered Bank, said that following the recovery of growth momentum in 2022 the country’s economy will grow strongly, with GDP growth of 7. In addition, amidst high private debt and rising global interest rates, a liquidity crunch distressed highly leveraged sectors (in particular, real estate), the corporate bond came to a halt, and nonperforming loans rose. April 05, 2023 - 07:00. The growth would be supported by a sizable public investment, an expansionary monetary policy, and the reopening of China. This means the region would contribute around 70 percent of global growth. 5 percent in 2022, while inflation is projected to average 3. This is down from September estimates that suggested Vietnam may reach close to 6. Dec 21, 2022 · For 2022 it has revised its outlook up, predicting 7. Nov 24, 2021 · Regional Economic Outlook: The Caucasus and Central Asia. 6% in line with the official forecast of 6. 5% in 2024. 81% (corresponding structure of the same period in 2022 was 11. Overview of the World Economic Outlook Projections at Market Exchange Rate Weights 11 Annex Table 1. 0 percent in 2024. Here, Vietnam Briefing provides a report on how the International Monetary Fund (IMF) analyzed certain trends in the economy with an optimistic outlook on the country’s growth. a/ Most recent value (2022), 2017 PPPs. 2 percent higher than a year ago. Key Indicators The Key Indicators for Asia and the Pacific publication presents data regarding the economic, financial, social, and environmental situations in a broad range of countries across the region. Despite a series of external shocks in recent years, economic growth remains resilient, while inflation is easing in most countries in the Caucasus and Central Asia. 02% in 2022 thanks to a strong rebound in domestic consumption, merchandise exports, and private investments (including FDI disbursements) following the removal of COVID-19 restrictions. 5% next year. 5% in 2024, with a focus on lowering interest rates while balancing inflationary pressure and economic growth. 5%, the economic outlook remains bleak. Vietnam’s GDP increased by 5. 6% y-o-y in October 2023, is lower than the average of 4. While economic growth projections for 2024 are positive, consumer confidence at the end of 2023 remained subdued. 1 World Economic Outlook, “A rocky recovery,” International Monetary Fund, April 11, 2023. The rise in central bank policy rates Jun 10, 2023 · Vietnam's GDP growth rate moderated to a pace of 3. 8, 2022 —Vietnam’s economic recovery accelerated over the last six months on the back of resilient manufacturing and a robust rebound in services. According to the Vietnam Economic Update - H1 2023 from the PwC Market Research & Economic Study, the service sector leads the country’s economic growth thanks to The Vietnam economy has proven resilient through crises, the latest being COVID-19. While both the agro-forestry Vietnam's economy is expected to slow to 6. GDP growth is forecast to surge from an estimated 2. As a result, economic activity Oct 6, 2023 · The research findings (Quant + Qual) have helped us understand Vietnamese in a deeper level, allowing us to make clear decisions to be successful in the market. Sources: vietnamplus. Oct 18, 2022 · Furthermore, with domestic monetary tightening now underway and the outlook for global demand worsening, we think that the Vietnamese economy is set to slow steadily into 2023. Public investment will be the key driver for economic recovery and growth in 2023. The report said Vietnam’s economic outlook is positive but heightened domestic and external headwinds require coordinated and data-driven policy responses from authorities. Press Releases ASEAN+3 Policymakers Should Rebuild Policy Space and Address Long-term Challenges Amid Positive Outlook Jun 14, 2023 · The World Bank (WB) has announced its updated forecast of Vietnam’s GDP growth of about 6% in 2023, down about 0. 2023 will be a key year to test the strength of Vietnam’s economic fundamentals. 58 percent in 2021 due to the emergence of the Delta variant but is expected to rebound to 7. GDP rose by a historically high 8 percent—the highest since the 1990s—driven by strong Mar 27, 2024 · Vietnam's FMCG sector stands at a crossroads. According to the World Travel and Tourism Council, tourism contributed 7% towards GDP in 2019. Jan 18, 2023 · BSC assesses the factors affecting the prospect of the stock market in 2023 on the following basis: (1) Current status and prospects of domestic economy; (2) Profits of listed companies; (3) Capital flows; (4) World economic outlook and (5) Other issues. This cements Vietnam’s leading position in Asia for the past 12 months and is why the IMF dubbed the Basic indicators of Vietnam’s economy in the first nine months of 2023: GDP increased by 4. 24%, average CPI was 3. 9% in October 2023 after peaking at 7. According to ADB, Vietnam's economy is performing well amid global economic uncertainty and rising risks to the economic outlook. 4 “Indonesia’s GDP growth rate in Q4-2023 was 5. Mar 13, 2023 · (VOVWORLD) - Vietnam’s economy is projected to expand 6. While the forecast for 2023 is modestly higher than predicted in the April 2023 World Economic Outlook (WEO), it remains weak by historical standards. 9 percent in 2023 from 5. Vietnam’s upbeat growth outlook is bucking the slowing trend elsewhere in Asia, with relatively subdued inflation that’s also an exception to the general rule in the region. 2% in 2023 and 6. 62%; the service sector accounted for 43. Median CPI inflation for the G20 countries fell to 3. 33% year-on-year (YOY) in Q3 of 2023, pointing to 3 consecutive quarters of recovery. May 2, 2023 · relative to the October 2022 World Economic Outlook. Sustainability in business. However, the growth rate is still the highest in the Southeast Asian region despite the gloomy global economic situation. 3% Source: Mirae Asset Securities (Vietnam) Research estimates, GSO data Spotlight on 2023 consensus for Vietnam Source: Mirae Asset Securities (Vietnam) Research compiled The Singapore-based United Overseas Bank (UOB) has kept its forecast for Vietnam's GDP growth in 2023 unchanged at 6. 4 percent in 2022 to 2. 16 per cent over the same period last year; core inflation rose by 4. It also The PRC could generate significant demand for Viet Nam agricultural exports, as the country receives 45% of Viet Nam’s exports of fruit and vegetables. While the economy will receive support from a likely rebound in demand from Mainland China, it will not be enough to offset the impact of a further weakening in global demand. The global trade of goods is recording Outlook The Socio-economic Development Strate-gy 2021-2030 sets the objective of Vietnam becoming an industrialized country and belonging to the group of upper middle-income countries by 2030. However, a few countries, Vietnam inclusive, are already recovering from the coronavirus setback and witnessing positive prospects. Vietnam GDP Growth Accelerates to 5. 3 percent in 2023. for Vietnam down to 5. 58% GDP growth rate, despite witnessing one of the harshest COVID lockdowns in the world during the second half of 2021. As a result, with the estimated GDP growth rate of only 5. Rising inflation, its impact and mitigation. However, PwC believes that Vietnam's short-term economic outlook is still positive, with 2023 GDP growth of over 5% as forecast by Fitch, the International Monetary Fund (IMF), and Asian Development Bank (ADB). Agriculture is therefore expected to expand by 3. Poverty is expect-ed to decline from 3. Vietnam 2023 Strategy Note: Pounce Selectively. 07 February 2023 - 11:19 AM. Cumulative FDI disbursement was 18 US$ billion, 3. Vietnam experienced economic setbacks due to the pandemic and lockdown, just like many other countries. 2023 5:21 AM Jan 21, 2023 · Challenges in 2023. 5 per cent in 2023 and 6. Apr 26, 2023 · Viet Nam has made remarkable economic progress over the past decades, sustaining high economic growth. No. Advanced economies are expected to see an especially pronounced growth slowdown, from 2. State of digital adoption. Dec 29, 2022 · Vietnam’s real GDP growth slowed sharply from 13. Vietnam’s real GDP is expected to grow by 5. April 11, 2023. Jan 16, 2024 · VIETNAM STUDIES PROGRAMME About the Webinar Following a robust post-pandemic recovery in 2022, with the GDP rebounding at 8%, the Vietnamese economy has encountered significant challenges both domestically and globally in 2023. 0% in 2024 and 3. 4% average for the Asia-Pacific region. For 2023, however, the ADB has cut its growth forecast to 6. 7% in the third quarter of this year (Figure 2). 68 Sep 16, 2022 · The first half of 2022 saw a positive economic rebound in Vietnam as the country’s GDP grew 7. 5%. 9 percent growth observed in the preceding quarter. ASEAN-5 Indonesia’s real GDP grew by 5. We explain in our latest video. The socio-economic climate in the first quarter of 2023 occurred amid a world economy fraught with complex fluctuations and May 22, 2023 · Vietnam’s economic growth target of 6. Key areas covered are Vietnam macroeconomic indicators, Vietnam export demand, Vietnam purchasing managers index, Vietnam consumer demand, Vietnam shopper thrifty behavioural changes, Vietnam retail sales and Vietnam tourist arrivals. 5%, although growth momentum is Jan 3, 2023 · Credit Suisse analysts expect the growth of the ASEAN-six economies – Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam – to moderate to 4. Vietnam's gross domestic product advanced 5. Office Information. 13/01/2024 07:55. 8 percent in 2023, before settling at 3. 3 percent in 2023, as services growth moderates and inflation and interest rates rise. The report also analyzes the potential of the services sector for growth and recommends policy reforms to boost productivity and trade. org Dec 20, 2022 · Vietnam outlook 2023: Economic prospects in the post-pandemic era. Jun 30, 2023 · Regarding the structure of the economy in the first 6 months of 2023, the agriculture, forestry, and fishery sector accounted for 11. vn. 2. 1% in the decade to 2022, above the 4. The growth has even accelerated throughout 2022, culminating in an increase of 13. Jun 26, 2023 · Helping Students Regain Ground Lost During Pandemic Will Help Indonesia Realize Full Economic Potential. 4% last year to 3. Vietnam experienced a robust post-pandemic economic recovery in 2022 thanks to strong economic fundamentals and prudent public health management during the pandemic. 6 percent in 2022. As entered to 2023, Thai economy seems to gain recovery from the resuming tourism and private consumption. Kantar's Vietnam FMCG Outlook 2024 report delves into Sep 2, 2023 · Vietnam's projected GDP for 2023 is 4. Asia’s dynamism will be driven primarily by the recovery in China and resilient growth in India, while growth in the rest of Asia is expected to bottom out in 2023, in line with other regions. Nov 9, 2023 · AHK World Business Outlook – Fall 2023. Description: The baseline forecast is for growth to fall from 3. 0% in 2022. This disconnect reflects a complex interplay of macro forces and evolving consumer behaviour that brands must understand to thrive. 0 – 6. 6 billion in Apr 14, 2023 · In the US, although the unemployment rate stands at only 3. Sep 27, 2023 · After a strong post-pandemic recovery, the economy faces strong headwinds. Indonesia’s investment will rebound thanks to recent Vietnam’s economy is expected to strengthen to 6. 5 percent in 2024. 3%. Latest reading, at 3. 7 billion, 14. According to the Asian Development Bank, public investment will be the main driver for economic recovery and Vietnam's GDP growth in 2023 is forecast to increase by 6,5%. 5% inflation our Country Risk team forecasts for 2024, suggesting that price inflation Myanmar. Oct 4, 2023 · The global economic outlook is uncertain with the baseline forecast for growth falling from 2022 to 2023. The government will continue to adjust fiscal policy to rein in price growth, keeping inflation below 4. Mar 13, 2023 · Regarding Vietnam's economic outlook, Mr. European Economies: Real GDP, Consumer Prices, Vietnam Outlook 2022: Economic prospects in the wake of COVID-19. GDP growth slowed down to 2. Experts forecast that Vietnam will become The 2023 Vietnam economic outlook herein provides a short update on Vietnam’s economic progress year-to-date September 2023. 7% y-o-y in Q322 to 5. Oct 30, 2023 · According to the Vietnam General Statistics Office, the country’s consumer price index (CPI) will rise by 3. Talking about how Southeast Asia and Vietnam will contribute to the global economic growth in the year ahead and over the next five years, Leigh said that for Vietnam, a growth rate of about 8% in 2022 would be a bright spot in the region. Source: OECD Development Centre. Feb 28, 2023 · CBRE Vietnam ‘Real Estate Market Outlook 2023’ shares our views on what’s in store for the global economy, office, industrial, retail, and residential of 2022 and beyond, uncovering reasons to be cautious and optimistic. 1% in 2023 and aims for 6. 7 percent growth next year. Nov 8, 2023 · Vietnam’s GDP posted growth of 3. 6% in 2023 and 3. 4 percent in 2023 from a projected 5. Cumulative FDI commitment for the first 10 months of 2023 reached US$25. After a strong economic rebound in 2022, Vietnam's GDP growth has slowed in 2023 due to decreased global and Chinese demand for its exports, as well as issues with electricity supply and foreign direct investment. In 2022, Vietnam’s GDP rose 8%, exceeding other Asian countries Vietnam’s GDP in the first half of 2023 increased by 3. 3% this year, according to the World Bank’s latest Taking Stock report released on Monday. Recovery in domestic consumption and tourism will cushion the impact of weaker external demand Aug 31, 2023 · Time & Date: 14:00 – 16:00, Friday, 8th September 2023 Format: Hybrid event In person option: at Room Trang An 1, 3rd Fl, Grand Mercure Hanoi, 9 Cat Linh, Hanoi (Maximum 02 participants per Company/ Organization) Sep 29, 2023 · In the first nine months of 2023, CPI increased by 3. 3% compared to the prediction that the lender made in January. Despite the associated challenges, however, they are currently expanding their global involvement in many markets. 6%). Overview of the World Economic Outlook Projections 9 Table 1. Positive outlook for tourism sector in 2022: Vietnam has risen on the international tourism stage in recent years. Tăng trưởng kinh tế của Việt Nam được dự báo sẽ hạ còn 6,3% trong năm 2023, sau khi đạt mốc cao 8% vào năm trước, do tăng trưởng ở khu vực dịch vụ chững lại, giá cả và lãi suất leo thang ảnh hưởng đến các nhà đầu tư và hộ gia đình, theo nhận định tại Mar 15, 2024 · Macroeconomic outlook. 7% in July 2022, and we expect further deceleration in coming months. 8 percent over the year, a World Bank economic Vietnam’s GDP in the midst of the pandemic (2020 and 2021) maintained a positive growth mainly contributed by export growth and investments, especially FDI. With all factors considered, the economy is forecast to grow by 6. This growth was made possible by a low Feb 1, 2023 · Vietnam outlook 2023 - Year of positive momentum. 3 percent. . Jul 5, 2023 · According to the June 6 Global Economic Outlook Report, the World Bank forecasts that Vietnam's GDP will grow by 2023% in 6,3. Dec 14, 2023 · Authors. 67%, core inflation increasing by 2. Nov 10, 2022 · We forecast real household spending in Vietnam will grow by 7. 5%, as the Southeast Asian export hub suffered from slowing overseas demand. GDP: Indonesia recorded 5. 8 per cent in 2024. Table 11: Factors affecting the stock market in 2023. Vietnam’s economy tended towards recovery in 2023, with macroeconomic stability maintained, inflation controlled, major balances ensured, and significant achievements made Jan 11, 2023 · Vietnam economy is expected to expand by only 6. 25%; product tax minus product subsidies accounted for 8. 3% year-on-year (y/y) in the first quarter of 2023, after rapid GDP growth of 8. Vietnam was one of only a few countries to post GDP growth in 2020 when the pandemic hit. b/ WDI for School enrollment (2022); Life expectancy (2021). 15% annually in 2022, meeting the National Assembly’s goal of keeping the inflation rate below 4%. Inflation is expected to rise by about 6% in 2023. With strong economic expansion projected over the next decade, Vietnam's total GDP is forecast to increase from USD 327 billion in 2022 to USD 470 billion by 2025, rising to USD 760 billion by 2030. 1 percent growth in 2023. 5% in 2022 and revised down inflation to 3. The government expects inflation in Vietnam to decrease from around 5% in the first quarter of 2023, with lower global energy prices Aug 2, 2023 · The UOB Business Outlook Study 2023 (Vietnam) surveyed 505 business owners and key executives from SMEs and Large Enterprises across the country, to understand their views around: Business sentiments and priorities. 49 per cent. Mar 13, 2023 · Liên lạc. Downside risks to the outlook have strengthened. To achieve this goal, it needs to ñ ûi improve the quality of market-economy institutions and govern-ance ûii develop human capital, science, Download. Nov 10, 2022 · Standard Chartered raises Vietnam’s 2022 GDP growth forecast to 7. Tel: 84-24-3-824-3350 Fax: 84-24-3-825-1885 Email: RR-VNM@imf. The Asian Development Outlook analyzes economic and development issues in developing countries in Asia. Global growth is projected to fall from an estimated 3. The Asian Development Bank (ADB) raised its economic growth forecast for Vietnam to 7. Apr 13, 2023 · Vietnam's goods exports fell by 11. Downside risks to growth include slower-than . 72%1 y-o-y. HÀ NỘI — Việt Nam’s gross domestic product (GDP) expanded by 4. 02% in 2022, due to global economic shifts and domestic financial concerns. Vietnam is expected to resume rapid economic growth over the medium-term economic outlook, as a key beneficiary of the shift in global manufacturing supply chains towards competitive Southeast Asian manufacturing hubs. In the first two months of 2024, economic indicators paint a dynamic picture for Vietnam with the Consumer Price Index (CPI) surging by an average of 3. Our forecasts see world inflation averaging 5. 5 percent in 2022 to 3. Inflation in developing Asia is forecast to decline from 4. Economic outlook for 2023 Vietnam’s GDP growth outlook: 2023–2025 average of 7. Apr 5, 2023 · Việt Nam's economic growth moderate in 2023 amid headwinds: ADB. 28% in the first quarter, and 4. Retail sales high-frequency data indicate while retail sales growth remains positive, growth has slowed as Apr 23, 2024 · Ha Noi, April 23, 2024 —Viet Nam's economy is showing mixed signs of recovery, with growth forecast to reach 5. Key indicators for 2023 include: GDP growth of 6. 8% during the first 9 months of 2022. Vietnam’s economy enjoyed an expansion by 8. As per the Economic Report 2023 - Vietnam 3/15 1 ECONOMIC OUTLOOK AND ECONOMIC POLICY DEVELOPMENTS In 2022, Vietnam's economy experienced a strong but short-lived rebound, with growth reaching 8% (above average rates of 7% in 2016-19). 5 percent for the year as it draws to an end. The National Assembly passed a resolution on socio-economic development tasks for 2023 at its year-end session on November 10, with GDP projected to expand by 6. However, businesses grapple with adapting to new regulations in areas like tax, money laundering prevention Apr 16, 2024 · World Economic Outlook, April 2023: A Rocky Recovery. The full year Vietnam 2023 economic growth forecast is now 4. Vietnam's GDP Growth Softens as Exports Weaken Jul 7, 2023 · The economic outlook from 2023 to 2026 is for rapid economic expansion. 16%, foreign investment rose 7. The economy has also proven resilient to shocks, including the COVID-19 pandemic. Public investments and revived tourism, particularly with China's reopening, are anticipated to boost growth. Sep 27, 2023 · On August 30, 2023, the Executive Board of the International Monetary Fund (IMF) concluded the 2023 Article IV Consultation1 with Vietnam. Govt projects GDP growth at 6. The latest Source: WDI, Macro Poverty Outlook, and official data. 7%, and the trade surplus was estimated at 21. 04 percent year-on-year (y-o-y) economic growth in the fourth quarter 2023, marginally higher than the 4. 2% for the world’s largest economy. 5% growth in spending estimated for 2022, although we note that growth in 2022 largely came about from the low base of 2021 (2. In 2022, Vietnam's real GDP growth was 8. 6 percent in 2021 to 7. Much of this year’s decline will be driven by the People's Republic of China (PRC), where the inflation forecast is revised down to 0. The Asian Development Outlook 2022 also highlights short-term risks that may hinder the recovery of Vietnam’s economy. 05% growth in Q2 and pointing to the eighth consecutive period of expansion but slower than a 13. Jun 29, 2023 · An International Monetary Fund (IMF) team led by Paulo Medas conducted discussions for the 2023 Article IV consultation with Vietnam from June 14-29. 5 percent in 2022. 3 percent last year with the normalization of domestic demand following the post-pandemic jump last year, and the projected global Following a strong performance in 2022, The US economy is expected to narrowly avoid a recession in 2023, with the firm projecting GDP growth of 0. 02% growth in 2022. A weaker external environment led to a sizable decline in exports. Outbreaks of new variants may prompt renewed social distancing measures, dampening economic activity. Extensive and continued reforms since the late 1980s have been key to this economic success. After experiencing a slowdown in 2023, the economy is showing mixed signs of recovery in early 2024. Read more: Vietnam's diplomatic upgrade is in line with US expectations. 7% for 2023 amidst the global slow down. These figures put regional economic growth some way above the global average. 72 per cent year-on-year in the first half of 2023, despite the continued impact of local and global uncertainties, a new report has said. While trade continues to grow, there are signs that global Feb 7, 2023 · Vietnam Foreign Investment Outlook 2023: Navigating headwinds ahead. The first half of this year saw a swift economic rebound as Vietnam’s pandemic restrictions eased following the adoption of a living-with-COVID Apr 7, 2022 · The Regional Comprehensive Economic Partnership, which comes into effect on January 1, 2022, is expected to boost trade when the Covid-19 pandemic subsides, establish stable export markets and reliable for Vietnam. 9 percent in 2023 to 3. 84% and Access the interactive, global Economic Outlook 2023 report to learn how the global economy could evolve in 2023 against the backdrop of consumer and business trends and ongoing risks. 0 percent in both 2023 and 2024. vietnam's gdp. 5% in 2023 and 8. 32%; industry and construction accounted for 36. As with many countries around the world, those in Southeast Asia enjoyed strong economic growth in 2022 following the COVID-19 pandemic. 3% y-o-y over 2023, a slowdown from the 7. For more GDP information, visit our dedicated page. 0 percent growth in 2024 from 5. Vietnam OECD-FAO Agricultural Outlook 2021–2030 Budget and Economic Outlook Poverty and Shared Prosperity 2020 OECD Economic Surveys: Viet Nam 2023 Vietnam Economic Outlook for Southeast Asia, China and India 2023 Reviving Tourism Post-Pandemic Vietnam Asian Development Outlook 2020 Global Economic Prospects, June 2023 Silk for Silver The International organisations and media have continued to make positive assessment of Vietnam’s economic recovery and outlook in the second half of 2023. 102 Views. 6 percent in 2024. 8% for 2023 and Vietnam achieved a GDP growth of 5. Vietnam Q3 2023 growth improved reaching 5. Vietnam 2023 economic outlook. GDP Growth Prospect in 2022 and 2023 will likely be bolstered by increasing private Economic growth is expected to recover in 2024, driven primarily by an anticipated pick-up in external trade as demand from developed economies builds gradually. 72 percent with solid exports and consumer spending. 9% in 2025, down from an estimated 6. Weaker-than-expected domestic demand in Vietnam could weigh on the recovery. Yet, the nation is also one of the rare economies to post two consecutive years of growth since the start of COVID-19 globally. 0%. JAKARTA, June 26, 2023 – Economic growth in Indonesia is projected to moderate to 4. 7%, a decrease from 8. 3% in 2022, boosted by strong domestic consumption, investment and exports. 71% growth in the same period last year, flash data showed. This impressive growth, projected to outpace GDP by a factor of three until 2025, signifies Vietnam's economic resurgence. The Vietnamese government has clearly defined its overall goals for 2023 to continue the focus on maintaining macroeconomic stability, containing inflation, promoting growth and ensuring a good economic balance. The 2023 and 2024 projections for China, Indonesia and India are based on the OECD Economic Outlook, Interim Report March 2023. The team exchanged views with senior officials of the State Bank of Vietnam (SBV), the Ministry of Finance, the Ministry of Planning and Investment, the Central Economic Commission, the National Assembly, and other government agencies. 5 per cent; GDP per capita of USD 4,400 Jun 29, 2023 · Vietnam on Thursday reported faster economic growth in the second quarter, driven by the services sector, despite a slump in trade that analysts say could signal a slowdown ahead. Both IMF and the Bank of Thailand also announced that Thailand’s GDP would grow at 3. 1 Mastercard Economics Institute. Jul 4, 2023 · Regarding Vietnam’s economic outlook, Singapore-based Maybank Research Pte Ltd said in a recent report that Vietnam’s GDP growth is likely to expand by 5% in the second quarter, and 4% in 2023 Resident Representative for Vietnam Jochen Schmittmann Regional Resident Representative for the IMF Resident Offices in Vietnam, Cambodia and Lao PDR . According to a recent survey by the German Chambers of Commerce Abroad (AHKs), German companies are also feeling the effects of an overall economic slowdown at their international locations. This still makes Vietnam Southeast Asia’s fastest growing Aug 8, 2022 · Hanoi, Aug. 33% in Q3. ln uf hh hc tq vn pp qr za et