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The GDP growth rate in the context of the World Development Indicators (WDI) refers to the annual percentage increase or decrease in a country's Gross Domestic Product (GDP), adjusted for inflation. The WDI is a comprehensive database maintained by the World Bank that tracks various economic, social, and environmental development indicators across the globe.
Key Takeaways
Vietnam GDP Growth (1985-2023)
Vietnam’s economic reforms (Doi Moi) in the late 1980s led to rapid GDP growth, with rates around 8-9% in the 1990s. Growth remained steady, though the 2020 pandemic reduced GDP growth to 2.9%. Recovery was swift, reaching 8.1% in 2022. By 2023, growth stabilized at 5.0%, supported by strong manufacturing and export sectors amidst global trade tensions.
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