Vietnam’s economy has entered a period of rapid expansion. In 2024, under the World Bank’s latest income classification (for the fiscal year from July 2023 to July 2024), Vietnam had not yet made it into the upper-middle income group. The World Bank classifies economies based on gross national income (GNI) per capita - not GDP. Assuming exchange rates remain relatively stable, Vietnam is believed to have effectively crossed the World Bank’s upper-middle income threshold. This achievement reflects more than just fast GDP growth.

Source: VietNamNet News January 19, 2026 10:14 UTC