Economy - overview:
Vietnam is a densely-populated developing country that in the last 30 years has had to recover from the ravages of war, the loss of financial support from the old Soviet Bloc, and the rigidities of a centrally-planned economy. While Vietnam's economy remains dominated by state-owned enterprises (SOEs), which still produce about 40% of GDP, Vietnamese authorities have reaffirmed their commitment to economic liberalization and international integration. They have moved to implement the structural reforms needed to modernize the economy and to produce more competitive export-driven industries. Vietnam joined the WTO in January 2007 following more than a decade-long negotiation process. Vietnam became an official negotiating partner in the developing Trans-Pacific Partnership trade agreement in 2010. Agriculture's share of economic output has continued to shrink from about 25% in 2000 to about 20% in 2010, while industry's share increased from 36% to 41% in the same period. Deep 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. The global recession has hurt Vietnam's export-oriented economy, with GDP in 2009-10 growing less than the 7% per annum average achieved during the last decade. In 2010, exports increased by more than 25%, year-on-year, but the trade deficit remained high, prompting the government to consider administrative measures to limit the trade deficit. Vietnam's managed currency, the dong, continues to face downward pressure due to a persistent trade imbalance. Since 2008, the government devalued it by 20% through a series of small devaluations. Foreign donors pledged nearly $8 billion in new development assistance for 2011. However, the government's strong growth-oriented economic policies have caused it to struggle to control one of the region's highest inflation rates, which reached 23% in 2011. In February 2011, Vietnam shifted its focus away from economic growth to stabilizing its economy and tightened fiscal and monetary policies. In 2012 Vietnam is expected to unveil a broad eonomic reform program. Vietnam's economy continues to face challenges from falling foreign exchange reserves, an undercapitalized banking sector, and high borrowing costs. The near-bankruptcy and subsequent default of the state-owned-enterprise Vinashin, a leading shipbuilder, led to a ratings downgrade of Vietnam's sovereign debt, exacerbating Vietnam's borrowing difficulties.
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): GDP - composition by sector: Labor force: Labor force - by occupation: Unemployment rate: Population below poverty line: Household income or consumption by percentage share: Distribution of family income - Gini index: Investment (gross fixed): Budget: Taxes and other revenues: Budget surplus (+) or deficit (-): Public debt: Inflation rate (consumer prices): Central bank discount rate: Commercial bank prime lending rate: Stock of narrow money: Stock of broad money: Stock of domestic credit: Market value of publicly traded shares: Agriculture - products: Industries: Industrial production growth rate: Electricity - production: Electricity - consumption: Electricity - exports: Electricity - imports: Oil - production: Oil - consumption: Oil - exports: Oil - imports: Natural gas - production: Natural gas - consumption: Natural gas - exports: Natural gas - imports: Natural gas - proved reserves: Current account balance: Exports: Exports - commodities: Exports - partners: Imports: Imports - commodities: Imports - partners: Reserves of foreign exchange and gold: Debt - external: Stock of direct foreign investment - at home: Stock of direct foreign investment - abroad: Exchange rates:
NOTE: 1) The information regarding Vietnam on this page is re-published from the 2012 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Vietnam Economy 2012 information contained here. All suggestions for corrections of any errors about Vietnam Economy 2012 should be addressed to the CIA.
$299.2 billion (2011 est.)
country comparison to the world: 43
note: data are in 2011 US dollars
[see also: GDP country ranks ]
$121.6 billion (2011 est.)
[see also: GDP (official exchange rate) country ranks ]
5.8% (2011 est.)
country comparison to the world: 51
[see also: GDP - real growth rate country ranks ]
$3,300 (2011 est.)
country comparison to the world: 164
note: data are in 2011 US dollars
[see also: GDP - per capita country ranks ]
agriculture: 20%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 41.4%
[see also: GDP - composition by sector - industry country ranks ]
services: 38.6% (2011 est.)
[see also: GDP - composition by sector - services country ranks ]
48.23 million (2011 est.)
country comparison to the world: 12
[see also: Labor force country ranks ]
agriculture: 53.9%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 20.3%
[see also: Labor force - by occupation - industry country ranks ]
services: 25.8% (2009)
[see also: Labor force - by occupation - services country ranks ]
4.1% (2011 est.)
country comparison to the world: 37
[see also: Unemployment rate country ranks ]
10.6% (2010 est.)
[see also: Population below poverty line country ranks ]
lowest 10%: 3.2%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 30.2% (2008)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]
37.6 (2008)
country comparison to the world: 80
[see also: Distribution of family income - Gini index country ranks ]
33.2% of GDP (2011 est.)
country comparison to the world: 24
[see also: Investment (gross fixed) country ranks ]
revenues: $33.5 billion
[see also: Budget revenues country ranks ]
expenditures: $39.18 billion (2011 est.)
[see also: Budget expenditures country ranks ]
27.5% of GDP (2011 est.)
country comparison to the world: 105
[see also: Taxes and other revenues country ranks ]
-4.7% of GDP (2011 est.)
country comparison to the world: 140
[see also: Budget surplus (+) or deficit (-) country ranks ]
54.5% of GDP (2011 est.)
country comparison to the world: 45
note: data cover general Government Debt, and excludes debt instruments issued (or owned) by Government entities other than the treasury; the data [include/exclude] treasury debt held by foreign entities; the data include debt issued by subnational entities, as well as intra-governmental debt; intra-governmental debt consists of treasury borrowings from surpluses in the social funds, such as for retirement, medical care, and unemployment. Debt instruments for the social funds are not sold at public auctions.
[see also: Public debt country ranks ]
18.9% (2011 est.)
country comparison to the world: 214
[see also: Inflation rate (consumer prices) country ranks ]
7% (31 December 2010)
country comparison to the world: 40
[see also: Central bank discount rate country ranks ]
18.3% (31 December 2011 est.)
country comparison to the world: 66
[see also: Commercial bank prime lending rate country ranks ]
$32.9 billion (31 December 2011 est.)
country comparison to the world: 56
[see also: Stock of narrow money country ranks ]
$130.5 billion (31 December 2011 est.)
country comparison to the world: 47
[see also: Stock of broad money country ranks ]
$151.2 billion (31 December 2011 est.)
country comparison to the world: 43
[see also: Stock of domestic credit country ranks ]
$20.39 billion (31 December 2010 est.)
country comparison to the world: 60
[see also: Market value of publicly traded shares country ranks ]
paddy rice, coffee, rubber, cotton, tea, pepper, soybeans, cashews, sugar cane, peanuts, bananas; poultry; fish, seafood
food processing, garments, shoes, machine-building; mining, coal, steel; cement, chemical fertilizer, glass, tires, oil, paper
14% (2011 est.)
country comparison to the world: 3
[see also: Industrial production growth rate country ranks ]
97.3 billion kWh (2010 est.)
country comparison to the world: 33
[see also: Electricity - production country ranks ]
85.6 billion kWh (2010 est.)
country comparison to the world: 33
[see also: Electricity - consumption country ranks ]
535 million kWh (2009 est.)
[see also: Electricity - exports country ranks ]
3.85 billion kWh (2009 est.)
[see also: Electricity - imports country ranks ]
343,200 bbl/day (2010 est.)
country comparison to the world: 35
[see also: Oil - production country ranks ]
320,000 bbl/day (2010 est.)
country comparison to the world: 39
[see also: Oil - consumption country ranks ]
277,300 bbl/day (2009 est.)
country comparison to the world: 43
[see also: Oil - exports country ranks ]
182,300 bbl/day (2010 est.)
country comparison to the world: 52
[see also: Oil - imports country ranks ]
9.4 billion cu m (2010 est.)
country comparison to the world: 43
[see also: Natural gas - production country ranks ]
10.3 billion cu m (2010 est.)
country comparison to the world: 46
[see also: Natural gas - consumption country ranks ]
0 cu m (2009 est.)
country comparison to the world: 202
[see also: Natural gas - exports country ranks ]
905,800 cu m (2010 est.)
country comparison to the world: 73
[see also: Natural gas - imports country ranks ]
192.5 billion cu m (1 January 2011 est.)
country comparison to the world: 47
[see also: Natural gas - proved reserves country ranks ]
-$4.74 billion (2011 est.)
country comparison to the world: 171
[see also: Current account balance country ranks ]
$96.81 billion (2011 est.)
country comparison to the world: 40
[see also: Exports country ranks ]
clothes, shoes, marine products, crude oil, electronics, wooden products, rice, machinery
US 20%, Japan 10.7%, China 9.8%, South Korea 4.3% (2010 est.)
$103.7 billion (2011 est.)
country comparison to the world: 34
[see also: Imports country ranks ]
machinery and equipment, petroleum products, steel products, raw materials for the clothing and shoe industries, electronics, plastics, automobiles
China 23.8%, South Korea 11.6%, Japan 10.8%, Taiwan 8.4%, Thailand 6.7%, Singapore 4.9% (2010 est.)
$16.76 billion (31 December 2011 est.)
country comparison to the world: 63
[see also: Reserves of foreign exchange and gold country ranks ]
$37.34 billion (31 December 2011 est.)
country comparison to the world: 65
[see also: Debt - external country ranks ]
$67.65 billion (31 December 2011 est.)
country comparison to the world: 50
[see also: Stock of direct foreign investment - at home country ranks ]
$7.7 billion (31 December 2009 est.)
country comparison to the world: 54
[see also: Stock of direct foreign investment - abroad country ranks ]
dong (VND) per US dollar -
2) The rank that you see is the CIA reported rank, which may habe the following issues:
a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order
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This page was last modified 07-Mar-12