VietnamCulture and HistoryVietnam's Economy Overview

Vietnam’s Economy Overview

GDP (2017): US$ 224 billion

GDP comparison to the world: 46th

GDP growth rate (2017): 6.8%

GDP per capita (2017): US$ 2,343

GDP per capita comparison to the world: 137th

GDP composition by sector (2017): services 40.9%, industry 33%, manufacturing 15%, agriculture 15%

Industrial production growth rate (2017): 8%

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Inflation rate (consumer prices) (2017): 3.5%

National debt (2018): USD 151 million (August 2018)

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Member of WTO: since 2007

Exports (2017): US$ 214 billion

Top exports: agricultural products like rice, coffee, seafood, and wooden products, fuels like crude oil, and manufactured goods like machinery, clothes, shoes, and electronics.

Export destinations (2016): USA 21.8%, EU 19.3%, China 12.4%, Japan 8.3%, South Korea 6.5%

Imports (2017): US$ 212 billion

Top imports: manufacturing good like steel products, machinery and equipment, raw materials for clothing and shoe industries, and plastics, fuels like petroleum products, and other commodities like electronics and automobiles.

Import origins (2016): China 28.6%, South Korea 18.4%, Japan 8.6%, Chinese Taipei 6.4%, EU 6.4%

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Labor force (2017): 57.5 million

Unemployment rate (2017): 2.1%

Minimum wage in Hanoi and Ho Chi Minh City (2018): VND 3.98 million

Sources: worldbank, vnexpress, wto

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