Macro/ Strategy

2024 GDP recorded a remarkable number

Although the global economy had many challenges and a looming outlook, Vietnam’s GDP in 2024 recorded an impressive figure – 7.09% YoY for the whole year. GDP in Q4 2024 increased by 7.55% YoY, implying the strength of the economy when keeping an upward trend for 4 consecutive quarters and each quarter is higher than the previous. With the high growth momentum of 2024, Vietnam National Assembly has set a GDP growth target of 6.5% - 7% in 2025.

In Q4, the agriculture, forestry and fishery sector increased by 2.99% YoY, contributing 4.86% to the total growth of the entire economy. The industry and construction sector increased by 8.35%, contributing 44.03%. The service sector increased by 8.21%, contributing 51.11%. Regarding GDP use in Q4 2024, final consumption increased by 7.54% YoY; asset accumulation increased by 7.98% YoY; exports of goods and services increased by 11.35% YoY; imports of goods and services increased by 13.49% YoY.