Vietnam’s economy expands 5.05% in 2023

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(VOVWORLD) - Vietnam's GDP grew by 5.05% this year, lower than the set target but still outpacing many other nations, according to the Government.
Vietnam’s economy expands 5.05% in 2023 - ảnh 1General Statistics Office General Director Nguyen Thi Huong speaks at a press conference to announce 2023 economic data, December 29, 2023. (Photo: VNA) 

Over the past decade, this growth rate surpassed only those of 2020 and 2021, years significantly affected by the COVID-19 pandemic.

According to the General Statistics Office (GSO), Vietnam’s GDP is now at 430 billion USD. GDP per capita is at 4,284 USD, up 3.88% year-on-year. The Consumer Price Index, which measures inflation, rose 3.25%, well below the National Assembly target of keeping it under 4%.

About 12.6 million international tourists visited Vietnam this year, surpassing the set target of 8 million. The figure, however, is equivalent to only two thirds of the pre-pandemic level in 2019,

The GSO forecast that Vietnam continues to face many difficulties and challenges in next year. Ministries and agencies should take flexible and appropriate measures to effectively and concertedly implement socio-economic recovery and development support policies, it added.