Vietnam GDP Q3 2024 +7.4%

According to the latest data released by the General Statistics Office, Vietnam's economy grew by 7.4 per cent in the third quarter of 2024.

The manufacturing sector was one of the main drivers of growth, expanding 11.4 percent in the Q3 driven by robust external demand.

Regarding the economic structure, the agricultural sector grew by 2.6 per cent year-on-year, contributing 4 per cent to the economy's total growth, while the industrial and construction sector grew by 9.1 per cent, contributing 49 per cent, and the service sector, which accounted for 47 per cent of GDP, rose by 7.5 per cent.

During the first nine months of 2024, the Vietnamese economy expanded by 6.8 per cent year on year.

The Vietnamese government is targeting GDP growth between 6 and 6.5 per cent for 2024 and inflation below 4.5 per cent.

The Association of Southeast Asian Nations (ASEAN) is a political and economic union of ten members, has 667 million people and a territory of 4.5 million Km2; is currently the third largest economy in Asia-Pacific and the fifth largest in the World. The ASEAN Economic Community (AEC) has a combined GDP of USD 4.2 trillion, according to estimates for 2024.