During the 10th session of the 15th National Assembly on Monday, October 20, Vietnamese Prime Minister Pham Minh Chinh stated that the country's GDP has grown from 346 billion US dollars in 2020 to 510 billion US dollars in 2025, moving up five spots to make it the 32nd largest in the world.
The comments were made during his presentation of a summary report on the socio-economic development plan's implementation for the current year and the years 2021–2025, according to the local daily Nguoi Lao Dong.
The prime minister claimed that Vietnam's economy has maintained one of the fastest growth rates in the world while demonstrating excellent resilience against external shocks.
According to him, the average annual GDP growth rate for the 2021–2025 period is anticipated at 6.3 percent, higher than the 6.2 percent growth rate for the previous term, and the GDP is expected to expand by more than 8 percent in 2025.
The prime minister added that Vietnam's trade volume has also increased significantly, rising from 545.4 billion US dollars in 2020 to a record of about 900 billion US dollars in 2025, putting the nation among the top 20 trading nations in the world.
Vietnam's economy is poised for a significant milestone in 2025. Building on a 2024 growth rate of over 7 % and a 2025 first-quarter expansion of nearly 6.9 % in spite of global headwinds, the country's leadership is signaling an economic transition from rapid catch-up to higher-value, innovation-driven growth.
