Forecast: Primary Energy Supply in Vietnam

The primary energy supply in Vietnam has shown significant growth over the past decade, reaching 111.51 Million Tonnes of Oil Equivalent (MTOE) in 2023, up from 61.11 MTOE in 2013. Year-on-year growth rates varied, with notable increases in 2014 (11.86%) and 2018 (18.23%). The most recent data indicates a consistent increase, with a 4.36% rise from 2022 to 2023. The Compound Annual Growth Rate (CAGR) over the 2018-2023 period was 5.52%.

Looking ahead, the forecast suggests that the primary energy supply will continue to grow, albeit at a slightly slower pace. By 2028, it is expected to reach 134.44 MTOE, with a projected 5-year CAGR of 2.97%, representing a total growth rate of 15.76% from 2023 to 2028.

Future trends to watch for include:

• The pace of transition to renewable energy sources.
• Impact of technological advancements on energy efficiency.
• Policy changes and their implementation in the energy sector.
• Global energy market dynamics affecting local supply and demand.