To achieve the economic growth target of 8% or higher in 2025, it is crucial to boost consumption and investment, which constitute more than 85% of GDP. While net trade directly contributes just over 5% to GDP, its role is essential in connecting different economic components and generating strong spillover effects. Coordinated pro-growth policies According to published data for 2024, Vietnam’s GDP grew by 7.09% to an estimated US$476 billion. Consumption and investment remained the two main growth drivers, respectively contributing 54% and 31% to GDP. Government spending made up more than 10%, while net trade contributed around 5%. This breakdown highlights that Vietnam’s economic growth is currently driven primarily by domestic demand, especially consumer spending and investment in society. Despite being a highly open economy, with trade being 1.5 times higher than GDP, the direct contribution of net trade remains relatively limited. To achieve a growth rate of over 8% in 2025 and gradually move toward double-digit growth in the coming years, the Government has set key economic targets. Specifically, consumption growth is expected to reach 12%; total trade is projected to grow by at least 12%, with a trade surplus of around US$30 billion; and total investment in […]
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