Vietnam

How Large Is Vietnam's Economy?

Vietnam's GDP of $476.4B makes it a upper-middle-income economy by World Bank classification. GDP per capita of $4,717 is 58% below the regional average of 11,200 (World Bank, 2025). The economy has grown 103% over the past decade, from $213.7B in 2013 to $433.9B in 2023. The most recent annual growth rate of 7.1% is above the global median of 3.1% (World Bank, 2025). The unemployment rate of 1.5% is 64% below the regional average of 4.2 (World Bank, 2025). Inflation of 3.6% is moderately elevated above the global median of 3.5%. Vietnam's official currency is the Vietnamese đồng (₫). As a UN member, Vietnam participates in multilateral trade frameworks.

Historical Economic Trajectory

Between 1994 and 2023, Vietnam's GDP expanded by 2564% in nominal terms, rising from $16.3B to $433.9B over 29 years. This more-than-doubling of economic output reflects sustained structural growth across the period. Over the same reference period (1994 to 2023), Vietnam's population grew from 70.9M to 100.4M, a change of 42% (29.5M people) across 29 years. Steady population growth has driven demand for housing, education, and public services throughout the period. Taken together, the GDP and population trajectories from 1994 onward illustrate how Vietnam's economic output has evolved relative to its demographic base. Real GDP per capita has broadly improved over the span, as nominal output growth outpaced population growth by approximately 2522 percentage points.

What Are Vietnam's Demographics?

With 101.3M people, Vietnam is among the world's 15 most populous countries. At 306 people per km², the country is densely populated. Population has grown at 1.0% annually over the past decade (World Bank, 2025). Life expectancy stands at 74.6 years, 2.6 years above the global average of 72 years. Infant mortality of 14.0 per 1,000 live births is 22% below the regional average of 18 (World Bank, 2025). The country's official language is Vietnamese. Over the past decade, Vietnam's population grew from 70.9M to 100.4M, adding 29.5M people.

Where Is Vietnam Located?

Vietnam covers 331,212 km² (128,000 sq miles) and shares land borders with 3 countries. The country sits within the Asia region, South-Eastern Asia subregion, spanning Asia. Hanoi serves as the seat of government and administrative capital of Vietnam. The country spans 1 time zone. Recognized internationally by ISO codes VN and VNM, Vietnam is an independent sovereign state and a full UN member. Its 1 currency (VND) reflects its participation in multilateral trade and monetary frameworks.

Border Countries

ChinaCambodiaLaos