ANN/VIETNAM NEWS – Vietnam is projected to be among the world’s 20 fastest-growing economies this year, with its gross domestic product (GDP) expected to expand by 6.1 per cent, according to the latest forecast from the International Monetary Fund (IMF).
The figure, outlined in the IMF’s report, surpasses projected growth rates for several regional economies, including China, Indonesia, Thailand and Malaysia.
Vietnam’s economy is also set to reach a value of USD506 billion in 2024, placing it 33rd globally in terms of economic size.
Meanwhile, the World Bank (WB) has forecast that Vietnam’s GDP growth will slightly moderate to 6.8 per cent in 2025.
Despite these optimistic projections, both the IMF and WB forecasts remain below Vietnam’s ambitious GDP growth target of at least eight per cent.
This target was revised upward in a resolution passed by the National Assembly as part of the country’s supplementary socio-economic development plan for 2025. Previously, Vietnam had set a growth target of 6.5 to seven per cent for the year.
Vietnam is also set to rank among the world’s 30 fastest-growing economies in both trade-growth speed and absolute volume increase by 2030, according to a forecast by German logistics provider DHL.
One of the key drivers of trade growth in Southeast Asian countries is the increase in supply chain diversification strategies, as businesses seek to move their supply chains out of China to alternative locations. Vietnam, for instance, has benefitted in the past as a favoured alternative for electronics manufacturing.
