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Vietnam

Includes Vietnam real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector.

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Basic Information

Government Type: Communist state

Capital City: Hanoi (Ha Noi)

GDP & Economic Information

Macroeconomy & Sovereign Data

Central Bank State Bank of Vietnam
Currency Dong (VND)
International Reserves USD 55.5 billion (2018)

World Bank, data retrieved October 2019
Gross Domestic Product – GDP USD 241.3 billion (2018, estimate)
GDP (Purchasing Power Parity) Intl$ 710.3 billion (2018, estimate)

GDP Data

Real GDP growth 2007 7.1%
2008 5.7%
2009 5.4%
2010 6.4%
2011 6.2%
2012 5.2%
2013 5.4%
2014 6%
2015 6.7%
2016 6.2%
2017 6.8%
2018 7.1%

*Estimate
GDP per capita – current prices USD 2,551.1 (2018, estimate)
GDP per capita – PPP Intl$ 7,510.5 (2018, estimate)
GDP (PPP) – share of world total 1980 0.18%
1990 0.24%
2000 0.33%
2010 0.44%
2019* 0.54%

*Estimate
GDP – composition by sector agriculture: 14.6%
industry: 34.3%
services: 41.2%
(2018 estimate)
Gross domestic expenditure on R&D; (% of GDP) N/A
Inflation 2015 2.3%
2016 2.3%
2017 2.2%
2018* 2.2%
2019* 2.2%

*Estimate

Inflation & Debt

Inflation 2015 2.3%
2016 2.3%
2017 2.2%
2018* 2.2%
2019* 2.2%

*Estimate
Government Bond Ratings Standard & Poor’s: BB

Moody’s: Ba3

Standard & Poor’s / Moody’s
Unemployment rate 2015 2.3%
2016 2.3%
2017 2.2%
2018* 2.2%
2019* 2.2%

*Estimate
Household saving rates N/A
Public debt (General government gross debt as a % of GDP) 2015 57.1%
2016 59.7%
2017 58.2%
2018* 55.6%
2019* 54.3%

*Estimate
Public deficit (General government net lending/borrowing as a % of GDP) 2015 -6.4%
2016 -3.9%
2017 -4.7%
2018* -4.4%
2019* -4.4%

*Estimate

Market value of publicly traded shares 2016 USD 73.2 billion
2017 USD 125.3 billion
2018 USD 132.7 billion
Largest Companies Joint Stock Commercial Bank for Foreign Trade of Vietnam, Commercial Bank For Investment & Development Of Vietnam, Vingroup, Vietin Bank

Import/Export

Exports as percent of GDP (Exports of goods and services) 95.4% (2018)
Shares in world total merchandising export 1.26% (2018)
Shares in world total commercial services export 0.26% (2018)

Total exports USD 259.8 billion (2018 estimate)
Export commodities Clothes, shoes, electronics, seafood, crude oil, rice, coffee, wooden products, machinery
Total imports USD 251.4 billion (2018 estimate)

Import commodities Machinery and equipment, petroleum products, steel products, raw materials for the clothing and shoe industries, electronics, plastics, automobiles
Exports – major partners US 20.1%, China 14.5%, Japan 8%, South Korea 6.8% (2017)
Imports – major partners China 25.8%, South Korea 20.5%, Japan 7.8%, Thailand 4.9% (2017)

Competitiveness & Trade

Current account balance USD 5.8 billion (2018 estimate)
Current account balance by percentage of GDP 2.4 % (2018 estimate)
FDI inflows 2016 USD 12,600 million
2017 USD 14,100 million
2018 USD 15,500 million
FDI Outflows 2016 USD 1,000 million
2017 USD 480 million
2018 USD 598 million
Value of cross-border M&A, by country of purchaser 2015 USD -1.6 million
2016 USD 49.5 million
2017 USD 26.7 million
2018 USD 69.1 million
Cross-border M&A deals worth over $3 billion completed in 2014 N/A
Cross-border M&A deals worth over $3 billion completed in 2015 N/A
Best countries for doing business
Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm.

Overall ranking:

70 out of 190 countries

​Subcategories:
Starting a Business: 115 out of 190 countries
Dealing with Construction Permits: 25 out of 190 countries
Getting Electricity: 27 out of 190 countries
Registering Property: 64 out of 190 countries
Getting Credit: 25 out of 190 countries
Protecting Minority Investors: 97 out of 190 countries
Paying Taxes: 109 out of 190 countries
Trading across Borders: 104 out of 190 countries
Enforcing Contracts: 68 out of 190 countries
Resolving Insolvency: 122 out of 190 countries
Global competitiveness ranking 67 out of 141 countries

(2019)
Index of Economic Freedom Ranking: 128 / Score: 55.3 (Mostly unfree)

(100=totally free 0=totally repressed)

Population & Geographic Data

Total Area 331,210 sq km


Total Population 1990 66.02 Million
2000 77.64 Million
2010 86.93 Million
2015 91.71 Million
2020 96.41 Million
Urban population as % of total population 1960 14.7%
1980 19.2%
2000 24.4%
2018 35.9%
Population median age 30.9 years
Population growth rate 0.9% (2018 estimate)
Life expectancy 73.9 years (2018 estimate)
% of population living on less than $3.10 a day 8.4% (last available estimate, 2016)
Inequality of wealth distribution (Gini index) 35.3 (last available estimate, 2016)

(0=perfect equality, 100=absolute inequality)
Freedom House rating Not Free
Political Rights: 7
Civil Liberties: 5 (2019)
(1 represents the most free, 7 the least free rating)
Total telephone subscribers as % of population
Fixed: 15%

Mobile: 147.2%

(2018)

(fixed-telephone subscribers and mobile-cellular subscribers)
Internet users as % of total population 70.35 % (2018)

Language & Religon

Languages Vietnamese (official), English (increasingly favored as a second language), some French, Chinese, and Khmer, mountain area languages (Mon-Khmer and Malayo-Polynesian)
Literacy
Total population: 94.5%
Male: 96.3%
Female: 92.8%
Definition: age 15 and over can read and write (2015 est.)
Religions Buddhist 7.9%, Catholic 6.6%, Hoa Hao 1.7%, Cao Dai 0.9%, Protestant 0.9%, Muslim 0.1%, none 81.8% (2009 est.)

World Rankings

Population 96.41 million
Mercer Cost of living index Hanoi: 112th
Ho Chi Minh City: 120th

(2019)
C02 Emissions per capita 1.82 metric tons per capita (2014)

Global Finance Rankings & Awards: Vietnam

Global Finance Magazine holds several conferences and awards ceremonies throughout the year to recognize the winning financial institutions and companies in a host of categories including World’s Best Trade Finance Banks, World's Biggest Banks, World's Safest Banks, World's Best Developed & Emerging Markets Banks, World's Best Internet Banks, and World’s Best Investment Banks.


Data Sources:

IMF World Economic Outlook

UN World Population Prospects

World Inequality Report

S&P Global Ratings

Moody’s

Fitch Ratings

IMF Direction of Trade Statistics (DOTS)

UN Conference on Trade and Development (UNCTAD)

CIA The World Factbook

World Bank’s World Integrated Trade Solution

Forbes Global 2000

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