The size of Vietnam's economy has expanded from 346 billion U.S. dollars in 2020 to 510 billion U.S. dollars in 2025, rising five places to rank 32nd globally, Vietnamese Prime Minister Pham Minh Chinh said on Monday at the 10th session of the 15th National Assembly.
He made the remarks while presenting a summary report on the implementation of the socio-economic development plan this year and for the 2021-2025 period, local daily Nguoi Lao Dong reported.
The prime minister said Vietnam's economy has affirmed strong resilience against external shocks, maintaining one of the world's highest growth rates.
Gross domestic product (GDP) in 2025 is projected to grow by over 8 percent, while the average annual GDP growth rate for the 2021-2025 period is estimated at 6.3 percent, higher than the previous term's 6.2 percent, he said.
Vietnam's trade volume has also surged sharply from 545.4 billion U.S. dollars in 2020 to a record of around 900 billion U.S. dollars in 2025, placing the country among the world's top 20 trading nations, according to the prime minister.