With an average annual growth rate of 5.8% over the next five years, Vietnam's GDP is expected to surpass Singapore's, reaching $676 billion by 2029.

Buildings in Ho Chi Minh City.

By 2039, Vietnam’s GDP could rise to $1.41 trillion, ranking 25th worldwide and becoming Southeast Asia’s third-largest economy, following Indonesia and the Philippines. This significant milestone underscores Vietnam’s resilience amid global challenges.

CEBR projects Vietnam will maintain strong growth compared to regional peers such as Thailand, Malaysia, and Singapore. While global GDP is expected to double from $110 trillion in 2024 to $221 trillion by 2039, Vietnam is anticipated to outpace many of its ASEAN neighbours in economic expansion.

In terms of GDP per capita, Vietnam is set to cross the upper-middle-income threshold in 2024 with a projected per capita GDP of $4,469. By 2025, this figure is expected to rise to $4,783, officially classifying Vietnam as an upper-middle-income country.

Although Vietnam’s per capita GDP lags behind Singapore, Malaysia, and Thailand, it is forecasted to climb to fourth place among ASEAN-6 nations by 2026, overtaking Indonesia and the Philippines, with a per capita GDP of $6,140, according to the International Monetary Fund.

To maintain its upward trajectory, Vietnam must focus on improving labour productivity, investing in education, and advancing technology. These efforts are essential to narrowing the income gap with neighbouring countries and solidifying its position as a regional economic leader.

Vietnam posts 6.8% GDP growth in the first 9 months

The GDP in the first 9 months of 2024 expanded by 6.82% compared to the same period in 2023. The GDP, based on 2010 constant prices, reached 4,472.22 trillion VND (around 180 billion USD).

PM orders extra efforts to reach yearly GDP growth of over 7%

Prime Minister Pham Minh Chinh requested ministries, sectors, and localities to strive their best to achieve the set growth rate of over 7% for 2024, while presiding over a regular Cabinet meeting connected online with the 63 provinces and centrally-run cities on October 7.

Vietnam posts 7.4% GDP growth in Q3

Vietnam's gross domestic product (GDP) expanded by about 7.4% in the third quarter and 6.82% during the first nine months of 2024 compared to the respective periods of last year, the General Statistics Office (GSO) reported on October 6. 

Government eyes 7% GDP growth in 2024

The government is striving to register an economic growth rate of 7% for the whole year, higher than the National Assembly (NA)’s target of 6-6.5%.

HSBC keeps Vietnam’s GDP growth at 6.5% for 2024, 2025

HSBC has maintained its GDP growth forecast for Vietnam at 6.5% for both 2024 and 2025 in its “Asian Economics Quarterly – Comin’ for a landing” report.

Vietnam targets $7,500 GDP per capita by 2030

The Vietnamese government has set a goal to bring GDP per capita to $7,500 by 2030, up 75% from 2023.