Vietnam’s GDP expanded by an impressive 7.09% last year, one of the highest growth rates in recent years. Despite this economic growth, the stock market remained subdued. Economic growth and stock market performance in 2024 Vietnam’s economy posted its second-highest growth rate in decades, trailing only the 8.02% level in 2022. The main driver was the industry and construction sector, which grew by 8.24% and contributed 45.17% to GDP. The service sector also surged 7.38%, and made up 49.46% of GDP, while agriculture, forestry, and fisheries edged up 3.27%, contributing 5.37% to GDP. Quarterly growth showed a steady upward trend, with GDP rising from 5.98% in Q1 to 7.25% in Q2, 7.34% in Q3, and peaking at 7.55% in Q4. While the overall trend remained positive, industrial and construction activity slowed in the final quarter, while services accelerated significantly. Despite this economic resurgence, the stock market underperformed relative to GDP growth. The VN-Index gained 12.1% in 2024, with average daily trading liquidity up 23% from the previous year. However, most of this growth came in Q1, which saw a 13.1% gain, before the market stagnated in the rest of the year. A key highlight was the dominance of domestic individual […]
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