Việt Nam named among the 20 fastest-growing economies

Việt Nam named among the 20 fastest-growing economies

The International Monetary Fund (IMF) has forecast that Việt Nam is among the 20 fastest-growing economies in the world this year.

The Gemalink Deep-Sea Port in the southern provincve of Bà Rịa-Vũng Tàu. — VNA/VNS Photo Hồng Đạt

Việt Nam is among the top 20 economies projected to experience the strongest growth this year, with an estimated GDP expansion of 6.1 per cent, according to the International Monetary Fund (IMF).

In its report from January, the figure for Việt Nam surpasses the projected growth rates of regional countries including China, Indonesia, Thailand and Malaysia.

Việt Nam’s economy is expected to reach a scale of US$506 billion this year, ranking 33rd globally.

The World Bank (WB) recently forecasted that Việt Nam’s GDP growth in 2025 will slightly decelerate compared to 2024, standing at 6.8 per cent.

However, the predictions from both international organisations remain below Việt Nam’s GDP growth target of at least 8 per cent. This target was revised upward in a resolution passed by the National Assembly as part of the supplementary socio-economic development plan for 2025. Previously, Việt Nam had set a GDP growth target of 6.5 to 7 per cent for the year.

South Sudan is expected to witness the world’s highest GDP growth in 2025, at 27.2 per cent, according to the IMF. 

However, this surge comes from a low base in 2024 when the country’s GDP contracted by 26.4 per cent due to the impact of conflict with neighbouring Sudan.

Following South Sudan, Guyana is projected to see an explosive 14.4 per cent growth this year, driven by the recent discovery of new oil reserves and boom in exploration.

Việt Nam 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. Việt Nam, for instance, has benefitted in the past as a favoured alternative for electronics manufacturing. 

Bizhub