Vietnam's gross domestic product expanded by 6.71 percent year-on-year in the second quarter of 2019, following an upwardly revised 6.82 percent growth in the previous quarter. This was the weakest growth rate since the second quarter of 2017, as output of agriculture, forestry and fisheries expanded softer (2.19 percent from 2.81 percent in Q1). Meanwhile, output grew faster for both services sector (6.85 percent from 6.50 percent) and industry and construction (9.14 percent from 8.68 percent). For first half 2019 as a whole, the economy grew 6.76 percent. Vietnam targets an economic growth of between 6.6-6.8 percent this year. GDP Annual Growth Rate in Vietnam averaged 6.52 percent from 2000 until 2019, reaching an all time high of 8.48 percent in the fourth quarter of 2007 and a record low of 3.12 percent in the first quarter of 2009.
GDP Annual Growth Rate in Vietnam is expected to be 6.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Vietnam to stand at 5.70 in 12 months time. In the long-term, the Vietnam GDP Annual Growth Rate is projected to trend around 4.90 percent in 2020, according to our econometric models.