Vietnam Economic Update – H1 2023

In the first half of 2023, Vietnam’s macro-economics was impacted by global and domestic economic uncertainties.

  • Vietnam’s GDP grew by 3.72%1 over the same period last year

  • The service sector is leading the economic growth thanks to domestic consumption stimulus policies, the reopening of the economy since March 15, 2022, and the post-COVID rebound tourism flow

  • The export value has been shrinking (-12% compared to H1 2022) owing to contracting consumption in major export markets, including the US and EU

  • The stock market has been adversely impacted by the Government’s policy (inflation control) and negative events in the international financial market and in the domestic real estate market

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Get in touch

Nguyen Luong Hien

Partner, Deals/Strategy, PwC Vietnam

Tel: +84 28 3823 0796

Keith Mark Doten

Director, Deals/Strategy, PwC Vietnam

Tel: +84 28 3823 0796

Trinh Nguyen Phuong Tam

Senior Manager, Deals/Strategy, PwC Vietnam

Tel: +84 28 3946 2246