HCMC – Vietnam’s GDP expanded by 7.09% in 2024 to a total of US$476.3 billion, showed official data.
A report released by the General Statistics Office today, January 6, indicated robust growth across all quarters, with Q4 posting a year-on-year growth rate of 7.55%, one of the highest for the period between 2011 and 2024, trailing only peaks in 2017 and 2018. Quarterly growth rates were consistent, with Q1 at 5.98%, Q2 at 7.25%, and Q3 at 7.43%.
The industrial and construction sectors led the way, growing 8.35% and contributing 44.03% to the overall GDP increase. The services sector followed closely with an 8.21% expansion, accounting for 51.11% of GDP growth. Meanwhile, agriculture, forestry, and fisheries grew by 2.99%, contributing 4.86% to the overall increase.
Vietnam’s economic structure continued to evolve, with industry and construction comprising 37.64% of GDP, services at 42.36%, agriculture at 11.86%, and product taxes at 8.14%.
Labor productivity rose significantly in 2024, reaching US$9,080—an increase of US$726 compared to 2023. The proportion of trained labor in the workforce also improved, rising by 1.1 percentage points to 28.3%.
Vietnam’s per capita income climbed to US$4,700, an increase of US$377 from the previous year, reflecting the country’s sustained economic growth.
