VietnamChapters
Viet Nam is a remarkable development success story. Economic reforms since the launch of Đổi Mới in 1986, coupled with favorable global trends, helped transform Viet Nam from one of the world’s poorest countries to a dynamic middle-income economy in a single generation. The transformation over the past four decades has brought tangible improvements in people’s lives, lifting millions out of poverty, expanding access to health care and education, and connecting nearly all households to essential infrastructure.
Source: World Bank
Key indicators
- Area
- 331,210 km2
- Population
- 101,598,527 (2025)
- Government type
- Communist state
- Languages
- Vietnamese (official), English (increasingly favored as a second language), some French, Chinese, and Khmer, mountain area languages (Mon-Khmer and Malayo-Polynesian)
- GDP
- $484.73 billion (2025)
- Growth rate
- 5.8% (2025)
- HDI
- 117
- Capital
- Hanoi
Macroeconomic indicators
Growth is forecast to moderate to 5.8 percent in 2025 (due to trade uncertainty and a global slowdown) before rebounding to 6.1 percent in 2026. With a trade-to-GDP ratio of nearly 170 percent, Viet Nam is one of the world’s most open, trade-oriented economies, highly sensitive to global shifts.
Viet Nam’s goal of achieving high-income status by 2045 requires more than tripling current per capita income, demanding average annual growth of 6 percent for the next two decades. To sustain this, the nation must accelerate productivity, strengthen linkages between domestic and foreign firms, expand access to finance and technology for SMEs, and invest strategically in human capital to equip its workforce for a rapidly evolving economy.
Source: World Bank
IMF Statistics:
| Subject descriptor | 2023 | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|---|
|
All Items, Consumer price index (CPI), Period average, percent change Percent (Units) |
3.253 |
3.624 |
3.402 |
3.161 |
3.3 |
|
Current account balance (credit less debit), Percent of GDP Percent (Units) |
6.372 |
6.64 |
4.047 |
2.422 |
1.75 |
|
Current account balance (credit less debit), US dollar US dollar (Billions) |
27.59 |
30.509 |
19.616 |
12.376 |
9.541 |
|
Exports of goods and services, Volume, Free on board (FOB), Percent change Percent (Units) |
-3.087 |
19.666 |
5.12 |
0.716 |
2.287 |
|
Gross domestic product (GDP), Constant prices, Percent change Percent (Units) |
5.065 |
7.091 |
6.457 |
5.595 |
5.76 |
|
Gross domestic product (GDP), Current prices, Per capita, US dollar US dollar (Units) |
4316.74 |
4535.756 |
4744.725 |
4964.756 |
5261.924 |
|
Gross domestic product (GDP), Current prices, US dollar US dollar (Billions) |
433.008 |
459.472 |
484.726 |
511.059 |
545.213 |
|
Imports of goods and services, Volume, Cost insurance freight (CIF), Percent change Percent (Units) |
-5.223 |
20.623 |
5.437 |
2.467 |
3.951 |
|
Unemployment rate |
2.3 |
2.2 |
2.25 |
2.5 |
2.311 |
Estimates
Source: IMF Statistics - Vietnam
Relationships with Luxembourg
Existing conventions and agreements
Agreement between the Government of the Grand Duchy of Luxembourg and the government of the Socialist Republic of Vietnam for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and on capital
In order to promote international economic and financial relations in the interest of the Grand Duchy of Luxembourg, the Luxembourg government negotiates bilateral agreements for the avoidance of double taxation and prevent fiscal evasion with respect to Taxes on Income and on fortune with third countries.
- Convention from 04.03.1996 (Memorial 1998, A No.37, p.541)
- Effective as of 01.01.1996 (Memorial 1998, A No.37, p.541)
Further information
Contact points in Vietnam
Embassy of the Grand Duchy of Luxembourg in Thailand
Ambassador with residence in Bangkok: H.E. Mr Patrick HEMMER
Q House Lumpini 17th Floor
1 South Sathorn Road
Tungmahamek Sathorn
Bangkok 10120
Thailand
Tel.: (+66 2) 677 7360
Fax: (+66 2) 677 7364
E-Mail: bangkok.amb@mae.etat.lu
Website: bangkok.mae.lu
Honorary Consuls
Honorary Consul with Jurisdiction over the City of Hanoi:
Mr Hong Quang TRAN
Tel.: (+84) 24 3946 1204
E-Mail: hanoi@luxconsulatevn.org
Honorary Consul with jurisdiction of the City Ho Chi Minh:
Mr Olivier Dung DO NGOC
Tel.: (+84) 28 3827 2373
E-Mail: hcmc@luxconsulatevn.org
Source: Ministry of Foreign Affairs of Luxembourg
Other useful links
- European Chamber of Commerce in Vietnam
- Chambre de Commerce française au Vietnam
- Economic Freedom Index - Vietnam
- World Bank in Vietnam