The Vietnamese economy grew at an average rate of 8.7% p.a. between 2008 and 2018. Since the 1980s the economy has transitioned rapidly from a poorly performing centrally planned communist marketplace to a dynamic, export-oriented, rapidly modernising entity. Throughout the last decade the economy of Vietnam has experienced good growth, with the rate of GDP growth not dropping below 5% in any given year.
Industrial production (as measured by IPI) has also experienced good growth over the last decade. There have been a few years of double digit growth, growth has slowed in recent years but was still at a high of 10.6% in 2018.
Within the 2018-2023 timeframe, gasworld business intelligence predict growth from 11.7% p.a. in a low scenario to 14.9% p.a. in a high scenario. Accordingly, the industry in Vietnam is expected to achieve revenues of between $360m to $413m by 2023.
Published: 2020
Report Data: 2019
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