top of page

Vietnam's economic growth is fastest in Asia this year

Vietnam's gross domestic product (GDP) rose 8.02% in the year to December, according to official data, making it the fastest growth pace in Asia this year. The figure was even faster than the Vietnamese government's initial target of 6-6.5% growth. The growth was aided by a quicker-than-expected 5.92% expansion in the final quarter of the year. ADB forecasts Vietnam’s 2023 growth to be 6.3% as major trade partners see a slowdown. Manufacturing, which grew 8.1% during the year, was the main driver of economic growth, according to Nguyen Thi Huong, head of Vietnam’s General Statistics Office. Strong improvement in services also supported growth.


bottom of page