Thursday, April 9, 2020

About Vietnam

Economy

Currency: VND (Dong)

GDP (2006): $61 billion.

Real growth rate (2006): 8.2%.

Per capita income (2006): $726.

Inflation rate (2006): 7.5%.

External debt (2005): 32.5% of GDP, $17.2 billion.

Natural resources: Coal, crude oil, zinc, copper, silver, gold, manganese, iron.

Agriculture and forestry (20.4% of GDP, 2006): Principal products--rice, maize, sweet potato, peanut, soya bean, cotton, coffee, cashews. Cultivated land--12.2 million hectares. Land use--21% arable; 28% forest and woodland; 51% other.

 

Industry and construction (41.5% of GDP, 2006): Principal types--mining and quarrying, manufacturing, electricity, gas, water supply, cement, phosphate, and steel.

Services (38.1% of GDP, 2006): Principal types--wholesale and retail, repair of vehicles and personal goods, hotel and restaurant, transport storage, telecommunications, tourism.

Trade (2006): Exports--$39.6 billion. Principal exports--garments/textiles, crude oil, footwear, rice (second-largest exporter in world), sea products, coffee, rubber, handicrafts. Major export partners--U.S., EU, Japan, China, Singapore, Australia, Taiwan, and Germany. Imports--$44.4 billion. Principal imports--machinery, oil and gas, garment materials, iron and steel, transport-related equipment. Major import partners--China, Japan, Singapore, Taiwan, South Korea, Hong Kong, and Thailand.

Vietnam was accepted into the WTO on November 7, 2006.

The country is listed among the "Next Eleven" economies; the second fastest growth rate among countries in East Asia and the fastest in Southeast Asia.

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