The World Bank (WB) elevates Vietnam to an upper-middle-income status in its annual Country Income Classifications, released July 1, 2026. (Photo: World Bank)
The World Bank (WB) elevates Vietnam to an upper-middle-income status in its annual Country Income Classifications, released July 1, 2026. (Photo: World Bank)

"Powered by an export-led model, the country saw exports surge by more than 15% in both 2024 and 2025, with its GDP growing at 7% and 8% respectively," the WB said in its annual Country Income Classifications.

Vietnam's GNI expanded at an average of 10% annually between 2021 and 2025, "one of the strongest sustained runs in the region," according to the report.

Vietnam aims to become a upper middle-income country with modern industry by 2030, and a developed, high-income country by 2045.

This year's report covers 218 countries. Five moved from lower-middle to upper-middle income level are Jordan, Micronesia, the Philippines, Sri Lanka, and Viet Nam. Togo moved from low to lower-middle income.