Trade in services in Viet Nam
Viet Nam: Trade in services was 12.7% in 2024. ▼ Falling
Trade in services in Viet Nam, 1996–2024
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of GDP.
Analysis
In 2024, trade in services in Viet Nam stood at 12.7%.
That represents a change of up 11.9% on the previous year and up 16.6% over ten years.
Over the whole period, trade in services in Viet Nam peaked at 21.2% in 1998 and was at its lowest, 6.6%, in 2021.
That places Viet Nam 148th out of 200 countries with data for 2024, putting it in the middle of the range.
The long-run direction has been consistently falling across the 29 years of available data.
Trade in services in Viet Nam, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1996 | 18.4% | — |
| 1997 | 21.2% | +14.8% |
| 1998 | 21.2% | +0.0% |
| 1999 | 19.3% | -8.9% |
| 2000 | 19.1% | -1.0% |
| 2001 | 18.9% | -0.8% |
| 2002 | 19.0% | +0.1% |
| 2003 | 18.5% | -2.3% |
| 2004 | 18.9% | +2.3% |
| 2005 | 15.0% | -20.8% |
| 2006 | 15.4% | +2.5% |
| 2007 | 16.6% | +7.6% |
| 2008 | 15.1% | -8.8% |
| 2009 | 13.2% | -12.8% |
| 2010 | 11.8% | -10.3% |
| 2011 | 12.0% | +1.8% |
| 2012 | 11.1% | -7.6% |
| 2013 | 11.5% | +3.4% |
| 2014 | 10.9% | -5.0% |
| 2015 | 11.4% | +4.4% |
| 2016 | 11.4% | -0.1% |
| 2017 | 10.7% | -5.8% |
| 2018 | 10.7% | +0.0% |
| 2019 | 10.7% | -0.7% |
| 2020 | 7.4% | -31.0% |
| 2021 | 6.6% | -10.6% |
| 2022 | 9.9% | +50.7% |
| 2023 | 11.4% | +14.9% |
| 2024 | 12.7% | +11.9% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 20.0% | 18.4% | 21.2% | 4 |
| 2000s | 17.0% | 13.2% | 19.1% | 10 |
| 2010s | 11.2% | 10.7% | 12.0% | 10 |
| 2020s | 9.6% | 6.6% | 12.7% | 5 |
Countries ranked near Viet Nam
More economy & growth data for Viet Nam
- Exports of goods and services (current LCU), annual growth rate 21.62 % change on previous year (2025)
- Exports of goods and services (current LCU), per unit of GDP 24,523 current LCU per US$ of GDP (2025)
- Exports of goods and services (current LCU), per capita 124.23 million current LCU per person (2025)
- Exports of goods and services (constant 2015 US$), annual growth rate 16.27 % change on previous year (2025)
- Exports of goods and services (constant 2015 US$), per unit of GDP 0.8548 constant 2015 US$ per US$ of GDP (2025)
- Exports of goods and services (constant 2015 US$), per capita 4,330 constant 2015 US$ per person (2025)
- Gross fixed capital formation (current US$), annual growth rate 8.66 % change on previous year (2025)
- Gross fixed capital formation (current US$), per unit of GDP 0.2921 current US$ per US$ of GDP (2025)
- Gross fixed capital formation (current US$), per capita 1,480 current US$ per person (2025)
- Gross fixed capital formation (current LCU), per unit of GDP 7,290 current LCU per US$ of GDP (2025)
Frequently asked questions
- What is trade in services in Viet Nam?
- Trade in services in Viet Nam was 12.7% in 2024, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest trade in services recorded in Viet Nam?
- The highest recorded value was 21.2% in 1998.
- What is the lowest trade in services recorded in Viet Nam?
- The lowest recorded value was 6.6% in 2021.
- How does Viet Nam rank for trade in services?
- Viet Nam ranks 148th out of 200 countries with data for 2024.
- Is trade in services rising or falling in Viet Nam?
- Over the last ten years it is up 16.6%. The long-run trend across the full record is falling.
- Where does this Viet Nam data come from?
- The figures come from Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Trade in services (% of GDP). Statizoid updates them automatically from the source API.
Download this data
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About this data
Total trade in services includes services provided by residents to non-residents plus services provided by non-residents to residents. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.