Report by the WTO Secretariat

Over the past 30 years, Viet Nam sustained high GDP growth rates, which transformed the country into a lower-middle-income emerging economy; the poverty rate declined sharply from above 70% in the early 1990s to below 6% in 2019. The economy grew at an average rate of 6.6% per annum between 2014 and 2018 and reached a 10-year high of 7.1% in 2018. In 2019, real GDP grew by 7%, with GDP per capita reaching over USD 2,700. Preliminary data showed that GDP growth in 2020 slowed down to 2.5%, reflecting the impact of the COVID-19 pandemic.