The railway transportation sector in Vietnam has experienced fluctuating trends in passenger kilometers over the past decade. The recorded value in 2023 was 2.71 billion passenger kilometers, reflecting a slight recovery from the pandemic-induced low of 2020. Historical data shows a consistent decline from 2014 and beyond, with a notable dip during the pandemic years. The year-on-year change for 2023 was an increase of 4.93%, suggesting a continued gradual recovery.
Despite this recent uptick, the long-term trend remains downward, as indicated by a 5-year CAGR of -5.2% from 2018 to 2023. Looking forward, the forecast until 2028 shows a continued decrease, with a projected 5-year CAGR of -6.01% and an overall decline of 26.64% compared to the value in 2023.
Future trends to watch for include:
• Investments in railway infrastructure and modernization.• Competition from other modes of transportation like air and road travel.• Policy changes or government interventions aimed at revitalizing the railway sector.• Global and regional economic factors that could impact passenger travel behavior.
