Key Economic Insights: The economy of VietNam generates an estimated GDP of $476.4 billion ($4,717 per capita) supporting a population of 100,987,686. Productive output is anchored by 42.36% services, 37.64% industry and manufacturing, and 11.86% agriculture and natural resource extraction. Key merchandise exports include Manufactured goods, mineral resources, and agricultural commodities, directed primarily toward Global and regional trade partners.
As of 2024, Viet Nam’s GDP was approximately $476.4 billion (current US$), ranking around 35th globally. Its GDP per capita stood at about $4,717 (current US$).
Despite facing challenges, Viet Nam’s economy continues to show resilience and potential for further growth in the coming years.
VietNam Economic Structure & Sector Analysis
| Economic Dimension | Official Indicator (2024–2026) | Authoritative Source |
|---|---|---|
| GDP & Macro Output | Nominal GDP: $476.4 billion | Per Capita: $4,717 | World Bank WDI / IMF |
| Sector Breakdown | Services: 42.36% | Industry: 37.64% | Agriculture: 11.86% | World Bank National Accounts |
| Trade & Commodities | Top Exports: Manufactured goods, mineral resources, and agricultural commodities (Total: $380.76 billion) | UN Comtrade / OEC |
| Demographics & Labor | Population: 100,987,686 | Distributed workforce across formal & primary sectors | ILO / UN Population Division |
| Strategic Trade Corridors | Leading Trade Partners: Global and regional trade partners | World Bank WITS / IMF DOTS |
- Primary activities (agriculture, forestry, fishery): 11.86% of GDP (2024).
- Secondary activities (industry and construction): 37.64% of GDP (2024).
- Tertiary activities (services): 42.36% of GDP (2024).
Primary Sector of VietNam
With 39.43% of the country’s land dedicated to agriculture, Vietnam produces a variety of crops and animal products. The top ten agricultural products include rice, vegetables, sugarcane, cassava, maize, pork, fruits, bananas, coffee, and coconuts.
Despite contributing about 11.86% to GDP as of 2024, agriculture plays a crucial role in providing employment and sustaining rural livelihoods. The sector’s significance lies in the variety and quality of products, showcasing the country’s agricultural prowess.
Vietnam’s diverse geology provides a rich array of natural resources. Antimony, phosphates, coal, manganese, rare earth elements, bauxite, chromate, oil and gas deposits, timber, hydropower, and arable land drive its economy.Vietnam’s oil production of around 182,146 barrels per day places it at the 22nd position in the world ranking. With oil reserves of 4.4 billion barrels, the country holds approximately 0.26% of the world’s oil reserves.Vietnam’s gas production of 9.89 billion m³ in 2020 ranks it 43rd in the world, contributing significantly to its economic activity.Secondary Sector of VietNam
In Vietnam, key industrial products include food processing, garments, shoes, machine-building, coal, steel, cement, chemical fertilizer, glass, tires, oil, and mobile phones.In 2023, Vietnam’s manufactures exports accounted for only a small percentage of the country’s total exports, indicating their relatively low significance in driving the economy.Tertiary sector of VietNam
International Trade of VietNam
Import Activities of VietNam
As of 2024, Vietnam’s total imports reached about $380.76 billion, signifying its reliance on foreign inputs (such as components and raw materials) for its export-oriented manufacturing economy.Vietnam’s key import activities include sourcing integrated circuits, broadcasting equipment, refined petroleum, telephones, and fabric. The country’s top import partners are China (38%), South Korea (17%), Japan (5%), Taiwan (4%), and Thailand (4%).Exports Activities of VietNam
As of 2024, Vietnam’s total exports reached about $405.53 billion, up 14.3% year-on-year. Exports remain a crucial driver of the country’s economy, producing a trade surplus of roughly $24.8 billion.Vietnam’s export activities focus on broadcasting equipment, garments, telephones, integrated circuits, and machine parts. The country’s top export partners are the US (29%), China (15%), South Korea (6%), Japan (6%), and Hong Kong (3%).VietNam economy challenges in 2024
Vietnam faces challenges in 2024 with ongoing systemic corruption, disparities in poverty among ethnic minorities, and the need to sustain rapid economic growth while addressing environmental concerns.Sources
- World Bank Data: Viet Nam
- IMF Data Mapper: Vietnam
- Heritage Foundation: All Country Scores
- CIA World Factbook: Vietnam
- Our World in Data: Human Development Index
- UN Comtrade Plus: Trade Flow
- National Statistics Office of Vietnam
Last updated: August 2026
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