The World Bank is estimating Vietnam’s GDP growth will cap-out at 4.7 percent for 2023, with 5.5 percent growth expected in 2024 next year, according to the World Bank’s Global Economic Prospects–January 2024 report.
This is slightly less than official data provided by Vietnam’s General Office of Statistics which estimated the economy grew by 5.05 percent in 2023. The 5.5 percent figure is also lower than the Government of Vietnam’s target of 6 to 6.5 percent.
GDP growth estimates, forecasts, Vietnam + regional peers
| 2021 | 2022 | 2023e | 2024f | 2025f | |
| China | 8.4 | 3 | 5.2 | 4.5 | 4.3 |
| Malaysia | 3.3 | 8.7 | 3.9 | 4.3 | 4.2 |
| Myanmar | -12 | 4 | 1 | 2 | – |
| Lao PDR | 2.5 | 2.7 | 3.7 | 4.1 | 4.3 |
| Thailand | 1.5 | 2.6 | 2.5 | 3.2 | 3.1 |
| Vietnam | 2.6 | 8 | 4.7 | 5.5 | 6 |
| Philippines | 5.7 | 7.6 | 5.6 | 5.8 | 5.8 |
| Indonesia | 3.7 | 5.3 | 5 | 4.9 | 4.9 |