Countries
Vietnam
Key Economic Indicators
$1.65 trillion
$16,386
7.09%
3.62%
1.52%
$476.388 billion (2024 est.)
<strong>note:</strong> official data; data cover general government debt and inc
$28.05 billion
Economic Overview
lower middle-income socialist East Asian economy; rapid economic growth since Đổi Mới reforms; strong investment and productivity growth; tourism and manufacturing hub; TPP signatory; declining poverty aside from ethnic minorities; systemic corruption
All Economic Data
Agricultural products
rice, vegetables, sugarcane, cassava, maize, pork, fruits, bananas, coconuts, coffee (2023)
note:
<b>note:</b> top ten agricultural products based on tonnage
Average household expenditures
On alcohol and tobacco:
1.9% of household expenditures (2023 est.)
On food:
34.9% of household expenditures (2023 est.)
Budget
Expenditures:
$83.707 billion (2022 est.)
Note:
<b>note:</b> central government revenues and expenses (excluding grants/extrabudgetary units/social security funds) converted to US dollars at average official exchange rate for year indicated
Revenues:
$68.818 billion (2022 est.)
Currency
code:
VND
name:
Vietnamese đồng (VND) [₫]
Current account balance
$28.05 billion
Current account balance 2022:
$1.402 billion (2022 est.)
Current account balance 2023:
$25.793 billion (2023 est.)
Current account balance 2024:
$28.047 billion (2024 est.)
Note:
<b>note:</b> balance of payments - net trade and primary/secondary income in current dollars
Debt - external
$132.91 billion
Debt - external 2023:
$34.426 billion (2023 est.)
Note:
<strong>note:</strong> present value of external debt in current US dollars
Exchange rates
Currency:
dong (VND) per US dollar -
Exchange rates 2020:
23,208.368 (2020 est.)
Exchange rates 2021:
23,159.783 (2021 est.)
Exchange rates 2022:
23,271.212 (2022 est.)
Exchange rates 2023:
23,787.319 (2023 est.)
Exchange rates 2024:
24,164.886 (2024 est.)
Exports
$429.48 billion
Exports 2022:
$385.241 billion (2022 est.)
Exports 2023:
$374.986 billion (2023 est.)
Exports 2024:
$429.383 billion (2024 est.)
Note:
<b>note:</b> balance of payments - exports of goods and services in current dollars
Exports - commodities
broadcasting equipment, garments, integrated circuits, machine parts, footwear (2023)
note:
<b>note:</b> top five export commodities based on value in dollars
Exports - partners
USA 28%, China 20%, Japan 6%, Hong Kong 4%, Germany 3% (2023)
note:
<b>note:</b> top five export partners based on percentage share of exports
Foreign direct investment
net inflows:
$20.17 billion
GDP - composition, by end use
Exports of goods and services:
86.5% (2023 est.)
Government consumption:
8.8% (2023 est.)
Household consumption:
54.3% (2023 est.)
Imports of goods and services:
-78.4% (2023 est.)
Investment in fixed capital:
30.1% (2023 est.)
Investment in inventories:
1.5% (2023 est.)
Note:
<b>note:</b> figures may not total 100% due to rounding or gaps in data collection
GDP - composition, by sector of origin
Agriculture:
11.9% (2024 est.)
Industry:
37.6% (2024 est.)
Note:
<b>note:</b> figures may not total 100% due to non-allocated consumption not captured in sector-reported data
Services:
42.4% (2024 est.)
GDP (official exchange rate)
$476.388 billion (2024 est.)
note:
<b>note:</b> data in current dollars at official exchange rate
GDP per capita (nominal)
$4,717
Gini Index coefficient - distribution of family income
35.7 (2018)
Gini Index coefficient - distribution of family income 2022:
36.1 (2022 est.)
Note:
<b>note:</b> index (0-100) of income distribution; higher values represent greater inequality
GNI (gross national income)
$460.7 billion
GNI per capita
$4,490
Gross domestic investment
31 % of GDP
Household income or consumption by percentage share
Highest 10%:
28.1% (2022 est.)
Lowest 10%:
2.6% (2022 est.)
Note:
<b>note:</b> % share of income accruing to lowest and highest 10% of population
Imports
$398.77 billion
Imports 2022:
$369.746 billion (2022 est.)
Imports 2023:
$339.785 billion (2023 est.)
Imports 2024:
$398.672 billion (2024 est.)
Note:
<b>note:</b> balance of payments - imports of goods and services in current dollars
Imports - commodities
integrated circuits, broadcasting equipment, fabric, plastics, telephones (2023)
note:
<b>note:</b> top five import commodities based on value in dollars
Imports - partners
China 49%, Singapore 6%, Japan 6%, Hong Kong 5%, Taiwan 4% (2023)
note:
<b>note:</b> top five import partners based on percentage share of imports
Industrial production growth rate
8.2% (2024 est.)
note:
<b>note:</b> annual % change in industrial value added based on constant local currency
Industries
food processing, garments, shoes, machine-building; mining, coal, steel; cement, chemical fertilizer, glass, tires, oil, mobile phones
Inflation rate (consumer prices)
3.62%
Inflation rate (consumer prices) 2022:
3.2% (2022 est.)
Inflation rate (consumer prices) 2023:
3.3% (2023 est.)
Inflation rate (consumer prices) 2024:
3.6% (2024 est.)
Note:
<b>note:</b> annual % change based on consumer prices
Labor force
57.133 million (2024 est.)
note:
<b>note:</b> number of people ages 15 or older who are employed or seeking work
total:
57.04 million persons
Labor force - by occupation
agriculture:
25.04%
industry:
34.83%
services:
40.13%
Population below poverty line
4.3% (2022 est.)
note:
<b>note:</b> % of population with income below national poverty line
Public debt
Note:
<strong>note:</strong> official data; data cover general government debt and include debt instruments issued (or owned) by government entities other than the treasury; the data include treasury debt held by foreign entities; the data include debt issued by subnational entities, as well as intragovernmental debt; intragovernmental debt consists of treasury borrowings from surpluses in the social funds, such as for retirement, medical care, and unemployment; debt instruments for the social funds a
Public debt 2017:
58.5% of GDP (2017 est.)
Real GDP (purchasing power parity)
$1.65 trillion
Note:
<b>note:</b> data in 2021 dollars
Real GDP (purchasing power parity) 2022:
$1.294 trillion (2022 est.)
Real GDP (purchasing power parity) 2023:
$1.359 trillion (2023 est.)
Real GDP (purchasing power parity) 2024:
$1.456 trillion (2024 est.)
Real GDP growth rate
7.09%
Note:
<b>note:</b> annual GDP % growth based on constant local currency
Real GDP growth rate 2022:
8.5% (2022 est.)
Real GDP growth rate 2023:
5.1% (2023 est.)
Real GDP growth rate 2024:
7.1% (2024 est.)
Real GDP per capita
$16,386
Note:
<b>note:</b> data in 2021 dollars
Real GDP per capita 2022:
$13,000 (2022 est.)
Real GDP per capita 2023:
$13,500 (2023 est.)
Real GDP per capita 2024:
$14,400 (2024 est.)
Remittances
$16 billion
Note:
<b>note:</b> personal transfers and compensation between resident and non-resident individuals/households/entities
Remittances 2021:
3.5% of GDP (2021 est.)
Remittances 2022:
3.2% of GDP (2022 est.)
Remittances 2023:
3.2% of GDP (2023 est.)
Reserves of foreign exchange and gold
$83.08 billion
Note:
<b>note:</b> holdings of gold (year-end prices)/foreign exchange/special drawing rights in current dollars
Reserves of foreign exchange and gold 2022:
$86.54 billion (2022 est.)
Reserves of foreign exchange and gold 2023:
$92.238 billion (2023 est.)
Reserves of foreign exchange and gold 2024:
$83.082 billion (2024 est.)
Unemployment rate
1.52%
Note:
<b>note:</b> % of labor force seeking employment
Unemployment rate 2022:
1.6% (2022 est.)
Unemployment rate 2023:
1.7% (2023 est.)
Unemployment rate 2024:
1.5% (2024 est.)
Youth unemployment rate (ages 15-24)
Female:
6.6% (2024 est.)
Male:
7% (2024 est.)
Note:
<b>note:</b> % of labor force ages 15-24 seeking employment
Total:
6.8% (2024 est.)
Economic Rankings
External Debt
#16
Imports
#21
Exports
#23
GDP (PPP)
#25
Reserves
#30
GDP (Nominal)
#32
GDP Growth Rate
#32
Gini Index
#97
GDP per Capita
#104
Unemployment Rate
#169
Inflation Rate
#177
Quick Facts
Industries
food processing, garments, shoes, machine-building; mining, coal, steel; cement, chemical fertilizer, glass, tires, oil, mobile phones
Agricultural products
rice, vegetables, sugarcane, cassava, maize, pork, fruits, bananas, coconuts, coffee (2023)
Labor force
57.133 million (2024 est.)
Exports - partners
USA 28%, China 20%, Japan 6%, Hong Kong 4%, Germany 3% (2023)
Imports - partners
China 49%, Singapore 6%, Japan 6%, Hong Kong 5%, Taiwan 4% (2023)
Exchange rates
dong (VND) per US dollar -
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