VietnamMiscellaneousIs Vietnam Poor? The Average Vietnamese Salary

Is Vietnam Poor? The Average Vietnamese Salary

Vietnam is still a developing country, but is Vietnam poor? Find your answer here in our guide to average Vietnamese salary and Vietnam Gross Domestic Product (GDP).

Related: Vietnamese Currency

Vietnam GDP

Vietnam’s economy has taken a major toll due to the surge of COVID cases in 2021. Fortunately, the situation has been put under control thanks to the mass vaccination scheme throughout the country, and Vietnam’s GDP has shown signs of growth again.

  • Vietnam GDP (2021, est.): US$ 369.494 billion
  • Vietnam GDP – PPP (based on purchasing power parity, 2021, est.): US$ 1,142.177 trillion
  • Vietnam GDP growth rate (2021): 6.8%
  • Vietnam GDP per capita (2021, est.): 3,758.89 USD
  • Vietnam GDP – PPP per capita (2021, est): 11,619.43 USD

Average Vietnamese Salary

Minimum Wage (by law): 3.98 million VND/month

The average Vietnamese income by areas (thousand VND/month):

AreasMinimum IncomeAverage IncomeMaximum Income
Urban1,4522,53710,623
Rural6679995,644
Total7711,4577,547

 

The average Vietnamese salary in some professions for people with 5-8 years of experience (US$/month):

ProfessionsAverage Salary
Accounting~1,500 (can be up to 4,000)
Banking~1,500 (can be up to 7,000)
Finance~3,000 (can be up to 5,000)
Insurance~1,500 (can be up to 5,000)
Consumer Goods~1,500 (can be up to 5,000)
Construction~1,500 (can be up to 4,000)
Medical care~1,000 (can be up to 3,000)
Human Resources~1,500 (can be up to 3,500)
Legal~1,500 (can be up to 6,000)
Hospitality~1,500 (can be up to 3,500)
Information Technology~1,500 (can be up to 3,500)
Manufacturing~1,500 (can be up to 3,500)
Trading~2,000 (can be up to 5,000)
Supply Chain~1,500 (can be up to 3,500)

 

In general, employees in-state companies receive lower pay than the private sector (about one-third or one-fifth).

is vietnam poor slums of saigon 1

So Is Vietnam Poor?

While some Vietnamese could be considered well-off, the gap between rich and poor is still quite large. In August 2018, the average of the group with the highest income is 9.8 times that of the average of the group with the lowest income (according to the General Statistics Office). And when comparing the Vietnam GDP, Vietnam GDP per capita, as well as Human Development Indicators, to those of many developed countries around the world like the US and China, there is a huge difference, which makes Vietnam still classified as a developing country.

Find Vietnam Travel Insurance for your next trip:

 

Related articles:

Expats in Vietnam

Living Costs in Vietnam

Typical Costs of Traveling in Ho Chi Minh City

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