Vietnam’s GDP grew by 6.72% in the fourth quarter of 2023, continuing a trend of increasing GDP growth rates, starting with the first quarter of 2023 at 3.28%, 4.05% (later revised to 4.14% ) for the following quarter, and 5.33% for the third quarter.

As such, Vietnam finished the year with a combined 5.05% growth for the entire 2023 . The fourth quarter of 2023 exceeded the previous fourth quarters from the last three years, with 5.92% in 2022, 5.22% in 2021, and 2.91% in 2020. Only back in pre-pandemic 2019 was the fourth quarter GDP growth higher than this year’s. Despite showing continued signs of recovery from the pandemic, the growth rate for all of 2023 is down from 8% in 2022 and the performance falls short of Vietnam’s growth target of 6.5% for 2023.

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