Notably, the WB forecasts Vietnam's GDP growth at 6.3% in 2026. Although this is 0.2 percentage points lower than its earlier projection, Vietnam is expected to lead the region in GDP growth.

Workers at a garment company in HCM City.

It could surpass major economies including Mongolia (6.1%), the Philippines (6%), Thailand (5.1%) and China (4%).

Overall, the WB forecasts GDP growth in the East Asia and Pacific (EAP) region to gradually decline in the years to come, from 4.6% in 2025 to 4.1% in 2026, primarily due to China's economic slowdown.

Excluding China, EAP economies are projected to maintain a growth rate of 4.7% in 2026, driven by strong domestic demand.

In 2024, growth in EAP economies excluding China is estimated at 4.8%, higher than the 4.3% recorded in 2023, supported by the recovery in trade, domestic tourism and internal demand.

The WB highlighted Vietnam as a bright spot in regional economic growth, thanks to its robust export capabilities.

In the near future, the WB warns of potential economic risks for the region, mainly due to global trade uncertainties and China's economic downturn. Other risks include escalating geopolitical tensions and global inflation.

Natural disasters caused by climate change are also expected to continue pressuring regional growth prospects.

Globally, the WB forecasts economic growth at 2.7% for both 2025 and 2026, consistent with the growth rate in 2024.

Vietnam expects GDP per capita to hit $4,900 next year

Vietnam’s GDP per capita is set to rise by 5% to $4,900 next year if the country achieves economic growth of 7% this year, Prime Minister Pham Minh Chinh has said.

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.