This bar chart indicates the growth of Vietnam’s economy throughout 5 years from 2018

to 2023 based on the Gross domestic growth rate data of Vietnam. Overall, Vietnam’ real
gross domestic product experienced a fluctuating trend during 5 years of growing because
of some major events that occurred.
In 2018 – 2019, the GDP growth rate of Vietnam observed a slight decrease from 7.47%
to 7.36%, which is 0.11% lower than the previous year. In the next 2 years, Vietnam also
suffered from the intense global pandemic leading to a notable decline. The GDP rate
experienced a dip from 7.36% in 2019 to 2.87% in 2020 and it continued to drop to
2.56% as the pandemic progressively expanded worldwide.
As time went by, the COVID vaccine was invented which was also a remedy to
Vietnam’s economy. Thanks to it, Vietnam’s GDP rose around eight percent compared to
the previous year. However, the immense global event – the Russia and Ukraine took a
heavy toll on the GDP of Vietnam as the inflation that the substantial reason for the
shrink 2.32% in 2023.