GDP per capita Vietnam: figures reach record high in 2021

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Vietnam Economy
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Vietnam Economy - Overview

• Vietnam is one of the fastestgrowing economies
  in the world. The countrys economic boom is
  attributed to the shift in labour allocation from
  agriculture to the manufacturing and
  services sector.
• Vietnam also received a boost from private
  investment, strong tourism, higher wages, and
  increased urbanisation. The rapid expansion of
  industries, such as textile, electronics, and
  seafood production, propelled export numbers to
  new heights. 

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Vietnam - GDP

• Vietnam recorded 10-year high GDP growth of 7.1
  in 2018 and 7.02 in 2019. Despite the Covid-19
  outbreak in 2020, the country was one of the few
  economies that recorded positive growth with
  2.91. 
• In 2021, the Southeast Asian countrys GDP grew
  by 2.58. In 2022, Vietnam registered a growth of
  8.02, the highest pace since 1997. For 2023, the
  International Monetary Fund (IMF) expects
  Vietnams economy to grow by 6.2.

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Vietnam - GDP
(Source IMF WEO October 2022)
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Currency and Central Bank

• The Vietnamese dong has been the countrys
  official currency since 1978. The dong was
  formerly subdivided into 10 hao.
• These coins have not been used since 2014 in
  retail, although, some banks may still accept
  them.   
• The State Bank of Vietnam serves as the countrys
  central bank and owns approximately 65 of
  Vietnams largest listed bank by capital,
  VietinBank.

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Industry and Trade

• The agriculture, industry, and services
  sectors are the pillars of Vietnams economy. It
  is dominated by large state-owned companies,
  including textiles, plastics, food, furniture,
  paper, tourism, and telecommunications.

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Industry and Trade

• Vietnams services sector represents 40.95 of
  the countrys GDP and employs 35 of the total
  workforce. 
• Industry makes up 37.86 of Vietnams GDP. The
  sector employs around 11.3 million people, making
  it the second-largest employment sector in the
  country.
• The countrys agriculture sector contributes
   12.6 of the GDP. With almost 17.73 million
  people, agriculture, forestry, and fisheries
  employ the most people among all industries. 

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Stock Exchanges

• In 2020, the government decided to set up the
  Vietnam Stock Exchange to manage HSX and
  HNX. While both exchanges will share certain
  functions, HNX will be responsible for operating
  the derivatives market, the bond market and the
  market for other securities. HSX will undertake
  all stock tradings.

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