Viet Nam’s real GDP growth reached 7.1 percent in 2024, driven by a strong rebound in exports, outpacing most regional peers. External demand strongly rebounded in 2024 after a contraction in 2023. Final consumption and investment growth also accelerated in 2024 reaching 6.6 and 7.2 percent, respectively, supporting the growth momentum. However, private consumption remained a moderate driver of aggregate demand relative to the region (54 percent of GDP compared to a median of 61.7 percent, respectively) as household savings increased amid heightened uncertainty in recent years.