Viet Nam External Debt to GNI
External debt stocks as % of GNI DT.DOD.DECT.GN.ZS
Viet Nam's external debt to gni was 28.14% in 2025, ranked 88th globally. This represents a 2.5% decrease from 2024. Data from World Bank, covering 1989–2025.
Overview
Viet Nam's external debt to gni stood at 28.14% in 2025, a decline of +0.71pp from 2024. Based on recent trends, this figure is projected to reach 28.14% by 2025. Viet Nam ranked 88th globally.
Vietnam’s external debt-to‑GNI ratio has fallen dramatically from an all‑time peak of 384.01 % in 1990 to a trough of 27.55 % in 2008, before rising modestly to 28.14 % in 2025, placing the country 88th in the world. The steep decline over the 1990s and 2000s reflects successive debt‑restructuring programmes, export‑led growth and tighter fiscal discipline, while the recent stabilization near the 2008 low indicates a cautious borrowing stance amid expanding external liabilities. Compared with peers of similar rank, Vietnam’s ratio is slightly lower than Eswatini’s 29.29 % and Niger’s 29.64 %, but marginally above Afghanistan’s 27.46 % and Argentina’s 26.84 %. The 37‑year coverage shows a long‑term transition from debt overhang to a more sustainable external position. Continued improvement will depend on maintaining strong current‑account surpluses and diversifying financing sources, which could further compress the debt‑to‑GNI ratio in the coming years.
Data & projection
| Year | External Debt to GNI | YoY change | Rank |
|---|---|---|---|
| 2027* trend | 22.92% | - | - |
| 2026* trend | 25.53% | - | - |
| 2025* trend | 28.14% | - | - |
| 2025 | 28.14% | −0.71pp | #88 |
| 2024 | 28.85% | −5.63pp | #26 |
| 2023 | 34.48% | −2.78pp | #34 |
| 2022 | 37.26% | −2.96pp | #37 |
| 2021 | 40.22% | +1.20pp | #40 |
| 2020 | 39.02% | +0.45pp | #41 |
| 2019 | 38.57% | +0.30pp | #51 |
| 2018 | 38.27% | −3.30pp | #51 |
| 2017 | 41.57% | +4.33pp | #64 |
| 2016 | 37.24% | +1.22pp | #53 |
| 2015 | 36.03% | +2.75pp | #52 |
| 2014 | 33.27% | +1.17pp | #54 |
| 2013 | 32.10% | −0.77pp | #54 |
| 2012 | 32.88% | +0.50pp | #61 |
| 2011 | 32.38% | +0.81pp | #63 |
Detected Pattern
Analysis
Viet Nam matched the Export Boom Cycle pattern in 2020. Historically, 71% of countries showing this pattern (546 out of 768) saw external debt to gni improve within 24 months. View full analysis →
Frequently Asked Questions
Viet Nam's external debt to gni was 28.14% in 2025. Ranked 88th globally. This represents a 2.5% decrease from the previous year.
Viet Nam's external debt to gni peaked at 384.01% in 1990.
The lowest external debt to gni in Viet Nam was 27.55% in 2008.
Viet Nam ranks 88th globally in external debt to gni as of 2025.
The World Bank indicator code is DT.DOD.DECT.GN.ZS. Data sourced from World Bank.
Viet Nam's external debt to gni is projected to reach 28.14% by 2025 based on trend extrapolation.
The external debt to gni of Viet Nam in 2025 was 28.14%. This ranks 88th in the world.
Cite this page
@misc{historysaid_viet-nam_external-debt-to-gni,
title = {Viet Nam External Debt to GNI},
url = {https://historysaid.com/viet-nam/external-debt-to-gni/},
publisher = {HistorySaid},
year = {2026}
}