Gross domestic product (GDP) contribution in Vietnam 2023, by sector

In 2023, the manufacturing sector made a significant contribution of over 2.4 quadrillion Vietnamese dong to the gross domestic product (GDP) of Vietnam, thereby achieving the highest contribution across all sectors. The agriculture, forestry, and fishery sector accounted for the second-largest GDP contribution, followed by the wholesale and retail trade, vehicles, and motorcycle repairs sector. 

The expansion of Vietnam's manufacturing sector

The manufacturing sector has been a fundamental component of Vietnam's economy for many years, consistently driving its expansion since 2015, evidenced by its steadily increasing gross domestic product (GDP) value. This is further highlighted by the escalating number of newly established businesses within the sector, reaching a peak in 2022 with the highest recorded number of enterprises in seven years. Furthermore, the manufacturing sector has emerged as the main driver of Vietnam's export figures. Key export segments within the manufacturing sector include electronics, computers, and components, alongside mobile phones and spare parts, as well as textile and footwear products. 

Hai Phong City - A rising force in Vietnam's manufacturing landscape

Hai Phong has emerged as a pivotal manufacturing hub in northern Vietnam, alongside Bac Ninh and Bac Giang. The city accounted for five percent of the newly registered foreign direct investment (FDI) in the manufacturing sector during the first nine months of 2023. Furthermore, home to one of Vietnam's largest harbors, Hai Phong has strengthened its trading position, handling the highest volume of Vietnam’s domestic sea cargo at 8.75 million metric tons in 2022. The city is also home to VinFast, a pioneering electric car manufacturer in Vietnam, with significant electric vehicle sales recorded in the first half of 2023.