Economy of Vietnam
Population: 95.54 M (2018)
GDP per Capita: 2,567 USD (2018)
245,210 M.

GDP USD

(2018)

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259,510 M.

EXPORTS USD

(2018)

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251,280 M.

IMPORTS USD

(2018)

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58.40 %

PUBLIC DEBT

(2018)

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Data is provided by World Bank, FMI and Central Banks.

GDP and Economic Growth

Indicator Value
Economic Growth 7.08 % (2018)
GDP of 2010 USD USD 187.70 B. (2018)
GDP Current USD USD 245.21 B. (2018)
GDP per Capita Current USD USD 2,567 (2018)
GDP per capita, PPP USD 6,609 (2018)
GDP per Capita, 2010 USD USD 1,964 (2018)

Government spending and balances

Indicator Value
Government Spending % GDP 6.47 % (2018)
Government Spending USD 15.87 B. (2018)
Government Debt % GDP 58.40 % (2018)

International Trade and Investment

Indicator Value
Terms of Trade Base Year 2000 128.81 (2018)
Trade Openness 208.31 % (2018)
Exports of Goods and Services % GDP 105.83 % (2018)
Exports Goods & Services USD 259.51 B. (2018)
Exports Annual Growth 14.27 % (2018)
Imports as % GDP 102.47 % (2018)
Total Imports USD 251.28 B. (2018)
Foreign Direct Investment % GDP 6.32 % (2018)
Foreign Direct Investment USD 15.50 B. (2018)
Current Account Balance % GDP USD 2.41 % (2018)
Current Account Balance USD 5.90 B. (2018)
Trade Balance % GDP 3.36 % (2018)
Trade Balance USD 12.86 B. (2018)
Foreign Exchange Reserves incl Gold USD 55.45 B. (2018)
Remittances % GDP 6.50 % (2018)
Remittances 6.50 % (2018)
Balance of Payments USD 1,398 M. (2006)

Labor Market

Indicator Value
Labor Force 57.25 M. (2019)
Unemployment Rate 1.89 % (2019)
Unemployment Rate Females 1.90 % (2019)
Unemployment Rate Males 2.11 % (2019)
Youth Unemployment (ages 15-24) 6.93 % (2019)
Labor Force Participation Rate 77.29 % (2019)
Labor Force (Percent Female) 47.81 % (2019)
Female Labor Force Participation Rate 72.54 % (2019)
Male Labor Force Participation Rate 82.31 % (2019)
Dependent People 43.78 % (2018)

Agriculture Sector

Indicator Value
Forest Area 48.10 % (2016)
Forest Area km² 149,020 km² (2016)
Agricultural Land 39.28 % (2016)
Agricultural Land km² 121,780 km² (2016)
Employment 39.45 % (2019)
Value added % GDP 14.68 % (2018)
Agriculture Value added USD 36.00 B. (2018)
Crop Production Index 135.10 (2016)
Precipitation 1,821 mm (2014)
Arable Land 23 % (2016)
Cereal Yield 5,434 kg/hectare (2017)
Food production index 136 (2016)
Rural Population 64 % (2018)
Fertilizer use of Arable Land 430 kg/hectare (2016)
Livestock Production Index 151 (2016)
Economy of Vietnam

According to the World Bank and its latest published data, the economy of the Vietnam presents a growth rate of 7.08 % (2018) to the previous year.

With a population that reaches 95.54 M (2018) and a gross domestic product of USD 245.21 B. (2018), it translates a Gross Domestic Product per Capita of USD 2,567 placing its inhabitants on the threshold of an Lower middle income country (according to the World Bank's updated classification).

Vietnam also has a workforce of 57.25 M. (2019) with an unemployment rate of 1.89 % (2019), where women represent 1.90 % (2019) and men 2.11 % (2019), the unemployment rate for young people between 15-24 years old stood at 6.93 % (2019). The total number of dependent people stands at 43.78 % (2018).

The central government spent 6.47 % (2018) of its gross domestic product that year, which in absolute terms is USD 15.87 B. (2018). Its consolidated public debt reached 58.40 of its GDP, exceeding the 35% risk limit used by the European Union.

Regarding its international trade, Vietnam exported USD 259.51 B. (2018), which represents 105.83 % (2018) of its gross domestic product, in that same sense its imports reached USD 251.28 B. (2018) with a direct foreign investment of USD 15.50 B. (2018).

Vietnam has a forest area of 149,020 km² (2016), which represents 48.10 % (2016) of its total area, an average rainfall of 1,821 mm (2014) per year and a population of 64 % (2018) living in rural areas. With a total area of 121,780 km² (2016) available for agriculture and 39.45 % (2019) of its employments, the agricultural sector contributes to the economy of the Vietnam about USD 36.00 B. (2018) (14.68 % (2018) of its GDP).