Vietnam to be Asia-Pacific's fastest growing economy in 2026: World Bank
Vietnam to be Asia-Pacific's fastest growing economy in 2026: World Bank
The World Bank projects Vietnam's gross domestic product (GDP) growth at 6.3 percent in 2026, the highest in the Asia-Pacific region, in its newly released ‘Global Economic Prospects’ report.
A view of the Ho Chi Minh City center. Photo: Van Trung / Tuoi Tre |
Vietnam's GDP growth is predicted to reach 6.6 percent in 2025, a 0.1 percentage point increase from the previous forecast in October 2024.
In 2026, the WB forecasts GDP growth at 6.3 percent, slightly lower than the earlier estimate by 0.2 percentage points.
Despite this, Vietnam is expected to lead the region in growth, outpacing major economies such as Mongolia (6.1 percent), the Philippines (six percent), Thailand (5.1 percent), and China (four percent).
Overall, the WB anticipates GDP growth in the East Asia and Pacific (EAP) region to gradually decline to 4.1 percent in 2026 from 4.6 percent in 2025, primarily due to China's economic slowdown.
Excluding China, EAP economies are projected to maintain a growth rate of 4.7 percent in 2026, driven by strong domestic demand.
In 2024, growth in EAP economies excluding China was estimated at 4.8 percent, up from 4.3 percent in 2023, supported by a recovery in trade, domestic tourism, and internal demand.
The WB highlighted Vietnam as a regional bright spot in economic growth, owing to its robust export capabilities.
However, the WB also flagged potential risks for the region, including global trade uncertainties, China’s economic downturn, rising geopolitical tensions, and global inflation.
Natural disasters driven by climate change are also expected to continue to pressure regional growth prospects.
Globally, the WB forecasts economic growth at 2.7 percent for both 2025 and 2026, matching the growth rate for 2024.
