unbekannter Gast

Vietnam: Economy#

Vietnam is a densely populated developing country that has been transitioning from the rigidities of a centrally-planned economy since 1986. Agriculture's share of economic output has shrunk from about 25% in 2000 to 18% in 2014, while industry's share increased from 36% to 38% in the same period. State-owned enterprises now account for only about 40% of GDP.

Vietnamese authorities have reaffirmed their commitment to economic modernization and a more open economy. Vietnam joined the WTO in January 2007, which has promoted more competitive, export-driven industries. Vietnam was one of 12-nations that concluded the Trans-Pacific Partnership free trade agreement negotiations in 2015.

Hanoi has oscillated between promoting growth and emphasizing macroeconomic stability in recent years. During 2015, Vietnam's managed currency, the dong, depreciated about 5%. Poverty has declined significantly, and Vietnam is working to create jobs to meet the challenge of a labor force that is growing by more than one million people every year.

Vietnam is trying to reform its economy by restructuring public investment, state-owned enterprises, and the banking sector, although Hanoi’s progress in meeting its goals is lagging behind the proposed schedule. Vietnam's economy continues to face challenges from an undercapitalized banking sector and nonperforming loans.

Economic Facts#

GDP (purchasing power parity)$594.9 billion (2016 est.)
$560.7 billion (2015 est.)
$525.6 billion (2014 est.)
note: data are in 2016 dollars
GDP (official exchange rate)$200.5 billion (2015 est.)
GDP - real growth rate6.1% (2016 est.)
6.7% (2015 est.)
6% (2014 est.)
GDP - per capita (PPP)$6,400 (2016 est.)
$6,100 (2015 est.)
$5,800 (2014 est.)
note: data are in 2016 dollars
Gross national saving28.4% of GDP (2016 est.)
28.1% of GDP (2015 est.)
31.9% of GDP (2014 est.)
GDP - composition, by end usehousehold consumption: 65.6%
government consumption: 6.5%
investment in fixed capital: 25.7%
investment in inventories: 3.9%
exports of goods and services: 89.6%
imports of goods and services: -91.3% (2016 est.)
GDP - composition, by sector of originagriculture: 17%
industry: 39%
services: 44% (2016 est.)
Agriculture - productsrice, coffee, rubber, tea, pepper, soybeans, cashews, sugar cane, peanuts, bananas; poultry; fish, seafood
Industriesfood processing, garments, shoes, machine-building; mining, coal, steel; cement, chemical fertilizer, glass, tires, oil, mobile phones
Industrial production growth rate7% (2016 est.)
Labor force54.93 million (2016 est.)
Labor force - by occupationagriculture: 48%
industry: 21%
services: 31% (2012)
Unemployment rate3.7% (2016 est.)
3.5% (2015 est.)
Population below poverty line11.3% (2012 est.)
Household income or consumption by percentage sharelowest 10%: 3.2%
highest 10%: 30.2% (2008)
Distribution of family income - Gini index37.6 (2008)
36.1 (1998)
Budgetrevenues: $48.04 billion
expenditures: $57.21 billion (2016 est.)
Taxes and other revenues24% of GDP (2016 est.)
Budget surplus (+) or deficit (-)-4.6% of GDP (2016 est.)
Public debt54.9% of GDP (2016 est.)
54.3% of GDP (2015 est.)
note: data cover general government debt, and includes debt instruments issued (or owned) by government entities other than the treasury; the data include treasury debt held by foreign entities; the data include debt issued by subnational entities, as well as i
Fiscal yearcalendar year
Inflation rate (consumer prices)2.8% (2016 est.)
0.9% (2015 est.)
Central bank discount rate9% (31 December 2012)
15% (31 December 2011)
Commercial bank prime lending rate6.8% (31 December 2016 est.)
7.12% (31 December 2015 est.)
Stock of narrow money$74.94 billion (31 December 2016 est.)
$62.92 billion (31 December 2015 est.)
Stock of broad money$300.8 billion (31 December 2016 est.)
$256.7 billion (31 December 2015 est.)
Stock of domestic credit$285.8 billion (31 December 2016 est.)
$239.3 billion (31 December 2015 est.)
Market value of publicly traded shares$51.88 billion (31 December 2015 est.)
$46.07 billion (31 December 2014 est.)
$40.06 billion (31 December 2013 est.)
Current account balance$770 million (2016 est.)
$906 million (2015 est.)
Exports$169.2 billion (2016 est.)
$162.1 billion (2015 est.)
Exports - commoditiesclothes, shoes, electronics, seafood, crude oil, rice, coffee, wooden products, machinery
Exports - partnersUS 21.2%, China 13.3%, Japan 8.4%, South Korea 5.5%, Germany 4.1% (2015)
Imports$161 billion (2016 est.)
$154.7 billion (2015 est.)
Imports - commoditiesmachinery and equipment, petroleum products, steel products, raw materials for the clothing and shoe industries, electronics, plastics, automobiles
Imports - partnersChina 34.1%, South Korea 14.3%, Singapore 6.5%, Japan 6.4%, Hong Kong 5.1%, Thailand 4.5% (2015)
Reserves of foreign exchange and gold$34.66 billion (31 December 2016 est.)
$28.62 billion (31 December 2015 est.)
Debt - external$78.88 billion (31 December 2016 est.)
$73.33 billion (31 December 2015 est.)
Stock of direct foreign investment - at home$114.7 billion (31 December 2016 est.)
$102.7 billion (31 December 2015 est.)
Stock of direct foreign investment - abroad$7.7 billion (31 December 2009 est.)
$5.3 billion (31 December 2008 est.)
Exchange ratesdong (VND) per US dollar -
22,347 (2016 est.)
21,909 (2015 est.)
21,909 (2014 est.)
21,189 (2013 est.)
20,859 (2012 est.)