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Viet Nam Overview VIET NAM
Recent Socio-Economic Achievements LAND OF OPPORTUNITIES
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GDP GROWTH

COVID-19 disrupted the previous growth trend, when GDP growth had averaged 6.8% in the
2016-2019 period, but average growth in the 2016-2020 period was estimated at 5.9% and Viet
Nam is still among countries in the region and the world recording the highest growth rate.

Industry, construction, and services continued to maintain their leading positions in the
economy, making considerable contributions to overall growth. The average growth of the
industrial and construction sector in the 2016-2020 period was estimated at 7.45% and the
service sector about 6.2%, while the proportion of the industry and service sector (including
construction) increased from 82.6% in 2015 to 84.8% in 2020.

GDP continues to expand, standing at some $343 billion in 2020, an increase of about 1.7-fold
compared to 2015. According to the IMF, in October 2020, Viet Nam surpassed Singapore and
Malaysia and became the fourth-largest economy in Southeast Asia, behind Indonesia,
Thailand, and the Philippines. GDP per capita was estimated at $3,521, about 1.6-fold higher
than the figure in 2015.

GDP GROWTH, 2016-2021 (%)

7.08 7.02
6.81
6.21
5.64

2.91

2016 2017 2018 2019 2020 1H 2021

Source: General Statistics Office of Viet Nam