Monday, March 4, 2019

Vietnam Economy


The population of Vietnam is 96.5 million and land area is 127,881 square miles. Labor force was 55.1 million. Labor force by occupation was agricultural 39%, industry 27%, services 35%. Unemployment was 2.2%. Inflation was 2.8%

In 2018 Nominal GDP was $274 billion and GDP growth was 7%. GDP Rank is 44th. Nominal per capita GDP was $2,860. GDP by sector was agricultural 15%, industry 39%, services 44%.

Main industries were mobile phone, electronics, machinery, steel, food processing, wood, textile, footwear, vehicles, rice, coffee, cashews, seafood and vegetables.

Exports were $214 billion including mobile phones, textiles, electronics, machinery, footwear, vehicles, wood, seafood, steel, oil, pepper, rice and coffee to US 20.1%, China 14.5%, Japan 8%, South Korea 6.8%, others 50.6%.

Imports were $211 billion including machinery, equipment mobile phone, oil and raw materials to produce clothing, shoes, electronics, plastics, vehicles, metal and chemicals from China 26%, South Korea 21%, Japan 8%, Thailand 5% and others 40%.

Government Revenue $48 billion, Spending $57 billion, Debt to GDP 61%, External Debt $79 billion. Vietnam is a Communist Country.


Norb Leahy, Dunwoody GA Tea Party Leader

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