Source: world bank Nominal/PPP
Summary:
Vietnam GDP Per Capita expanded from 1985 to 2024, increasing from $238.65 to $4,717.29 .The compound annual growth rate (CAGR) averaged 7.95% over the period. The economy recorded its peak level in 2024 and its lowest level in 1989. Growth volatility remained high. The maximum drawdown reached 83.52%, indicating the largest cyclical decline from peak levels. The country experienced 2 recession episode(s) during the observed period.
Vietnam Economic Phases (1985 - 2024)
From 1985 to 2024, Vietnam economy moved through multiple cyclical phases marked by alternating periods of rapid expansion and contraction.
- High Growth (1986–1987) indicating robust economic expansion
- Crisis (1988–1989) indicating severe economic downturn
- High Growth (1993–1997) indicating robust economic expansion
- High Growth (2002–2014) indicating robust economic expansion
- High Growth (2016–2019) indicating robust economic expansion
- Expansion (2020–2021) indicating steady moderate growth
- High Growth (2024–2024) indicating robust economic expansion
The most remarkable growth occurred in 1986 with an increase of 82.872%, while the largest decline was in 1989 at -75.75%.