National Debt (% of GDP): Vietnam

Analysis# Vietnam National Debt (% of GDP) Vietnam's national debt stood at 31.8% of GDP in 2026, approaching its lowest level in over two decades. The country reached an all-time peak of 47.9% in 2016, nearly double the 24.8% recorded in 2000. Since the turn of the millennium, Vietnam's debt ratio has grown 28.2 percentage points overall, though recent years reveal a dramatic reversal of this trend. A decisive turning point emerged after 2016, when Vietnam began aggressive debt reduction. From the 2016 peak, the debt-to-GDP ratio fell consistently, declining from 46.6% in 2017 to 31.3% by 2024. The 2026 projection of 31.8% suggests stabilization near this lower level. This sustained deleveraging reflects improved fiscal discipline and strong economic growth, positioning Vietnam's debt trajectory favorably against its historical baseline.