Vietnam - Economic Indicators

One Belt One Road in Southeast Asia

Jul 04, 2018

Southeast Asia is a major intended recipient of China’s One Belt One Road Initiative. Thailand, Myanmar and Cambodia are embracing OBOR with important infrastructure projects under way. Vietnam and more recently Malaysia have taken a more cautious approach. Indonesia has faced significant delays on important projects. Southeast Asia is a critical constituent of China’s One Belt One Road Initiative. The various proposed projects offer...

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GDP Reference Last Previous Units Frequency
Real Gross Domestic Product 2018 Q2 1,466,960 637,244 Bil. 2010 VND, YTD, NSA Quarterly
Nominal Gross Domestic Product 2016 4,502,733,000,000,000 4,192,862,000,000,000 NCU Annual
Private Consumption 2016 3,086,298 2,849,540 Bil. VND, NSA Annual
Real Government Consumption 2016 196,013 182,270 Bil. 2010 VND Annual
Nominal Fixed Investment (gross fixed capital formation) 2016 1,066,160 1,033,780 Bil. VND, NSA Annual
Government Consumption 2016 293,106 265,545 Bil. VND, NSA Annual
Real Fixed Investment (gross fixed capital formation) 2016 914,777 832,235 Bil. 2010 VND Annual
Real Private Consumption 2016 2,053,236 1,913,547 Bil. 2010 VND Annual
Real Investment 2016 1,009,123 919,809 Bil. 2010 VND Annual
Investment 2016 1,196,739 1,160,447 Bil. VND, NSA Annual
Price Reference Last Previous Units Frequency
Producer Price Index (PPI) 2016 99.39 99.42 Last Year = 100, NSA Annual
Labor Reference Last Previous Units Frequency
Agriculture Employment 2017 23,495,915 23,816,342 # Annual
Unemployment Rate 2016 3.23 3.37 % Annual
Tertiary Industries Employment 2016 53,302 52,840 # ths., NSA Annual
Primary Industries Employment 2016 22,315 23,259 Ths. #, NSA Annual
Wage & Salaries 2016 4,502,733 4,192,862 Bil. VND, NSA Annual
Trade Reference Last Previous Units Frequency
Imports of Goods Jun 2018 19,700 20,765 Mil. USD, NSA Monthly
Exports of Goods Jun 2018 19,600 19,951 Mil. USD, NSA Monthly
Current Account Balance 2017 Q4 3,018,000,000 4,005,000,000 USD, NSA Quarterly
Real Exports of Goods and Services 2016 3,344,890,000,000,000 2,937,635,000,000,000 NCU Annual
Real Imports of Goods and Services 2016 3,543,103,000,000,000 3,073,334,000,000,000 NCU Annual
Exports of Goods and Services 2016 4,215,636,000,000,000 3,764,320,000,000,000 NCU Annual
Imports of Goods and Services 2016 4,100,294,000,000,000 3,731,151,000,000,000 NCU Annual
Real Net Exports 2016 -198,214 -135,699 Bil. 2010 VND Annual
Net Exports 2016 115,342 33,169 Bil. VND, NSA Annual
Balance of Goods 2016 1,777 -3,759 Mil. USD, NSA Annual
Government Reference Last Previous Units Frequency
Government Revenues 2015 996,870 877,697 Bil. VND, NSA Annual
Government Budget Balance 2015 -180,230 -226,286 Bil. VND, NSA Annual
Government Expenditures 2015 1,177,100 1,103,983 Bil. VND, NSA Annual
Markets Reference Last Previous Units Frequency
Stock Market Index Jul 2018 181.97 199.35 Index Jan2010=100, NSA Monthly
Treasury Bills (over 31 days) Jul 2015 4 4.46 % p.a., NSA Monthly
Consumer Reference Last Previous Units Frequency
Retail Sales Jun 2018 110.7 110.1 Index corr. YTD per. prv. yr.=100, NSA Monthly
Business Reference Last Previous Units Frequency
Industrial Production Dec 2017 267.16 263.59 ******* Monthly
Change in Inventories 2016 130,579 126,667 Bil. VND, NSA Annual
Real Change in Inventories 2016 94,346 87,574 Bil. 2010 VND Annual
Demographics Reference Last Previous Units Frequency
Population 2016 92,695 91,709 Ths. #, NSA Annual
Net Migration 2012 -200,002 # Annual

Factbook

Background

Background:
The conquest of Vietnam by France began in 1858 and was completed by 1884. It became part of French Indochina in 1887. Vietnam declared independence after World War II, but France continued to rule until its 1954 defeat by communist forces under Ho Chi MINH. Under the Geneva Accords of 1954, Vietnam was divided into the communist North and anti-communist South. US economic and military aid to South Vietnam grew through the 1960s in an attempt to bolster the government, but US armed forces were withdrawn following a cease-fire agreement in 1973. Two years later, North Vietnamese forces overran the South reuniting the country under communist rule. Despite the return of peace, for over a decade the country experienced little economic growth because of conservative leadership policies, the persecution and mass exodus of individuals - many of them successful South Vietnamese merchants - and growing international isolation. However, since the enactment of Vietnam's "doi moi" (renovation) policy in 1986, Vietnamese authorities have committed to increased economic liberalization and enacted structural reforms needed to modernize the economy and to produce more competitive, export-driven industries. The communist leaders maintain tight control on political expression but have demonstrated some modest steps toward better protection of human rights. The country continues to experience small-scale protests, the vast majority connected to either land-use issues, calls for increased political space, or the lack of equitable mechanisms for resolving disputes. The small-scale protests in the urban areas are often organized by human rights activists, but many occur in rural areas and involve various ethnic minorities such as the Montagnards of the Central Highlands, Hmong in the Northwest Highlands, and the Khmer Krom in the southern delta region.

Geography

Location:
Southeastern Asia, bordering the Gulf of Thailand, Gulf of Tonkin, and South China Sea, as well as China, Laos, and Cambodia
Geographic coordinates:
16 10 N, 107 50 E
Map references:
Southeast Asia
Area:
total: 331,210 sq km
land: 310,070 sq km
water: 21,140 sq km
country comparison to the world: 67
Area - comparative:
about three times the size of Tennessee; slightly larger than New Mexico
Area comparison map:
Land boundaries:
total: 4,616 km
border countries (3): Cambodia 1,158 km, China 1,297 km, Laos 2,161 km
Coastline:
3,444 km (excludes islands)
Maritime claims:
territorial sea: 12 nm
contiguous zone: 24 nm
exclusive economic zone: 200 nm
continental shelf: 200 nm or to the edge of the continental margin
Climate:
tropical in south; monsoonal in north with hot, rainy season (May to September) and warm, dry season (October to March)
Terrain:
low, flat delta in south and north; central highlands; hilly, mountainous in far north and northwest
Elevation:
mean elevation: 398 m
elevation extremes: lowest point: South China Sea 0 m
highest point: Fan Si Pan 3,144 m
Natural resources:
phosphates, coal, manganese, rare earth elements, bauxite, chromate, offshore oil and gas deposits, timber, hydropower, arable land
Land use:
agricultural land: 34.8%
arable land 20.6%; permanent crops 12.1%; permanent pasture 2.1%
forest: 45%
other: 20.2% (2011 est.)
Irrigated land:
46,000 sq km (2012)
Population - distribution:
though it has one of the highest population densities in the world, the population is not evenly dispersed; clustering is heaviest along the South China Sea and Gulf of Tonkin, with the Mekong Delta (in the south) and the Red River Valley (in the north) having the largest concentrations of people
Natural hazards:
occasional typhoons (May to January) with extensive flooding, especially in the Mekong River delta
Environment - current issues:
logging and slash-and-burn agricultural practices contribute to deforestation and soil degradation; water pollution and overfishing threaten marine life populations; groundwater contamination limits potable water supply; growing urban industrialization and population migration are rapidly degrading environment in Hanoi and Ho Chi Minh City
Environment - international agreements:
party to: Biodiversity, Climate Change, Climate Change-Kyoto Protocol, Desertification, Endangered Species, Environmental Modification, Hazardous Wastes, Law of the Sea, Ozone Layer Protection, Ship Pollution, Wetlands
signed, but not ratified: none of the selected agreements
Geography - note:
extending 1,650 km north to south, the country is only 50 km across at its narrowest point

People & Society

Population:
96,160,163 (July 2017 est.)
country comparison to the world: 15
Nationality:
noun: Vietnamese (singular and plural)
adjective: Vietnamese
Ethnic groups:
Kinh (Viet) 85.7%, Tay 1.9%, Thai 1.8%, Muong 1.5%, Khmer 1.5%, Mong 1.2%, Nung 1.1%, Hoa 1%, other 4.3%
note: 54 ethnic groups are recognized by the Vietnamese Government (2009 est.)
Languages:
Vietnamese (official), English (increasingly favored as a second language), some French, Chinese, and Khmer, mountain area languages (Mon-Khmer and Malayo-Polynesian)
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.)
Age structure:
0-14 years: 23.55% (male 11,909,326/female 10,735,324)
15-24 years: 16.23% (male 8,098,019/female 7,509,021)
25-54 years: 45.56% (male 22,087,095/female 21,719,615)
55-64 years: 8.55% (male 3,798,928/female 4,419,837)
65 years and over: 6.12% (male 2,281,923/female 3,601,075) (2017 est.)
population pyramid:
Dependency ratios:
total dependency ratio: 42.5
youth dependency ratio: 32.9
elderly dependency ratio: 9.6
potential support ratio: 10.4 (2015 est.)
Median age:
total: 30.5 years
male: 29.4 years
female: 31.7 years (2017 est.)
country comparison to the world: 113
Population growth rate:
0.93% (2017 est.)
country comparison to the world: 120
Birth rate:
15.5 births/1,000 population (2017 est.)
country comparison to the world: 122
Death rate:
5.9 deaths/1,000 population (2017 est.)
country comparison to the world: 170
Net migration rate:
-0.3 migrant(s)/1,000 population (2017 est.)
country comparison to the world: 115
Population distribution:
though it has one of the highest population densities in the world, the population is not evenly dispersed; clustering is heaviest along the South China Sea and Gulf of Tonkin, with the Mekong Delta (in the south) and the Red River Valley (in the north) having the largest concentrations of people
Urbanization:
urban population: 34.9% of total population (2017)
rate of urbanization: 2.59% annual rate of change (2015-20 est.)
Major urban areas - population:
Ho Chi Minh City 7.298 million; HANOI (capital) 3.629 million; Can Tho 1.175 million; Haiphong 1.075 million; Da Nang 952,000; Bien Hoa 834,000 (2015)
Sex ratio:
at birth: 1.1 male(s)/female
0-14 years: 1.11 male(s)/female
15-24 years: 1.08 male(s)/female
25-54 years: 1.01 male(s)/female
55-64 years: 0.85 male(s)/female
65 years and over: 0.63 male(s)/female
total population: 1 male(s)/female (2017 est.)
Maternal mortality ratio:
54 deaths/100,000 live births (2015 est.)
country comparison to the world: 91
Infant mortality rate:
total: 17.3 deaths/1,000 live births
male: 17.6 deaths/1,000 live births
female: 16.9 deaths/1,000 live births (2017 est.)
country comparison to the world: 94
Life expectancy at birth:
total population: 73.7 years
male: 71.2 years
female: 76.4 years (2017 est.)
country comparison to the world: 132
Total fertility rate:
1.81 children born/woman (2017 est.)
country comparison to the world: 149
Contraceptive prevalence rate:
75.7% (2015)
Health expenditures:
7.1% of GDP (2014)
country comparison to the world: 79
Physicians density:
0.82 physicians/1,000 population (2016)
Hospital bed density:
2.6 beds/1,000 population (2014)
Drinking water source:
improved:
urban: 99.1% of population
rural: 96.9% of population
total: 97.6% of population
unimproved:
urban: 0.9% of population
rural: 3.1% of population
total: 2.4% of population (2015 est.)
Sanitation facility access:
improved:
urban: 94.4% of population
rural: 69.7% of population
total: 78% of population
unimproved:
urban: 5.6% of population
rural: 30.3% of population
total: 22% of population (2015 est.)
HIV/AIDS - adult prevalence rate:
0.4% (2016 est.)
country comparison to the world: 74
HIV/AIDS - people living with HIV/AIDS:
250,000 (2016 est.)
country comparison to the world: 22
HIV/AIDS - deaths:
8,000 (2016 est.)
country comparison to the world: 23
Major infectious diseases:
degree of risk: very high
food or waterborne diseases: bacterial diarrhea, hepatitis A, and typhoid fever
vectorborne diseases: dengue fever, malaria, and Japanese encephalitis (2016)
Obesity - adult prevalence rate:
2.1% (2016)
country comparison to the world: 192
Children under the age of 5 years underweight:
14.1% (2015)
country comparison to the world: 60
Education expenditures:
5.7% of GDP (2013)
country comparison to the world: 33
Literacy:
definition: age 15 and over can read and write
total population: 94.5%
male: 96.3%
female: 92.8% (2015 est.)
Unemployment, youth ages 15-24:
total: 7%
male: 6.8%
female: 7.3% (2015 est.)
country comparison to the world: 140

Government

Country name:
conventional long form: Socialist Republic of Vietnam
conventional short form: Vietnam
local long form: Cong Hoa Xa Hoi Chu Nghia Viet Nam
local short form: Viet Nam
abbreviation: SRV
etymology: "Viet nam" translates as "Viet south," where "Viet" is an ethnic self identification dating to a second century B.C. kingdom and "nam" refers to its location in relation to other Viet kingdoms
Government type:
communist state
Capital:
name: Hanoi (Ha Noi)
geographic coordinates: 21 02 N, 105 51 E
time difference: UTC+7 (12 hours ahead of Washington, DC, during Standard Time)
Administrative divisions:
58 provinces (tinh, singular and plural) and 5 municipalities (thanh pho, singular and plural)
provinces: An Giang, Bac Giang, Bac Kan, Bac Lieu, Bac Ninh, Ba Ria-Vung Tau, Ben Tre, Binh Dinh, Binh Duong, Binh Phuoc, Binh Thuan, Ca Mau, Cao Bang, Dak Lak, Dak Nong, Dien Bien, Dong Nai, Dong Thap, Gia Lai, Ha Giang, Ha Nam, Ha Tinh, Hai Duong, Hau Giang, Hoa Binh, Hung Yen, Khanh Hoa, Kien Giang, Kon Tum, Lai Chau, Lam Dong, Lang Son, Lao Cai, Long An, Nam Dinh, Nghe An, Ninh Binh, Ninh Thuan, Phu Tho, Phu Yen, Quang Binh, Quang Nam, Quang Ngai, Quang Ninh, Quang Tri, Soc Trang, Son La, Tay Ninh, Thai Binh, Thai Nguyen, Thanh Hoa, Thua Thien-Hue, Tien Giang, Tra Vinh, Tuyen Quang, Vinh Long, Vinh Phuc, Yen Bai
municipalities: Can Tho, Da Nang, Ha Noi, Hai Phong, Ho Chi Minh City (Saigon)
Independence:
2 September 1945 (from France)
National holiday:
Independence Day (National Day), 2 September (1945)
Constitution:
history: several previous; latest adopted 15 April 1992, effective 1 January 1995
amendments: proposed by the president, by the National Assembly’s Standing Committee, or supported by at least two-thirds of the National Assembly membership; a decision to draft an amendment requires approval by at least a two-thirds majority of the Assembly membership, followed by the formation of a constitutional drafting committee to write a draft and collect citizens’ opinions; passage requires at least two-thirds majority of the Assembly membership; the Assembly can opt to conduct a referendum; amended 2001, 2013 (2018)
Legal system:
civil law system; note - the civil code of 2005 reflects a European-style civil law
International law organization participation:
has not submitted an ICJ jurisdiction declaration; non-party state to the ICCt
Citizenship:
citizenship by birth: no
citizenship by descent only: at least one parent must be a citizen of Vietnam
dual citizenship recognized: no
residency requirement for naturalization: 5 years
Suffrage:
18 years of age; universal
Executive branch:
chief of state: President Tran Dai QUANG (since 2 April 2016); Vice President Dang Thi Ngoc THINH (since 7 April 2016)
head of government: Prime Minister Nguyen Xuan PHUC (since 7 April 2016); Deputy Prime Ministers Truong Hoa BINH (since 9 April 2016), Vuong Dinh HUE (since 9 April 2016), Vu Duc DAM (since 13 November 2013), Trinh Dinh DUNG (since 9 April 2016), Pham Binh MINH (since 13 November 2013)
cabinet: Cabinet proposed by prime minister, appointed by the president, and confirmed by the National Assembly
elections/appointments: president indirectly elected by National Assembly from among its members for a single 5-year term; election last held on 2 April 2016 (next to be held in spring 2021); prime minister appointed by the president from among members of the National Assembly, confirmed by National Assembly; deputy prime ministers appointed by the prime minister, confirmed by National Assembly
election results: Tran Dai QUANG (CPV) elected president; percent of National Assembly vote - 98.9%; Nguyen Xuan PHUC elected prime minister; percent of National Assembly vote - 91.0%
Legislative branch:
description: unicameral National Assembly or Quoc Hoi (500 seats; members directly elected by absolute majority vote with a second round if needed; members serve 5-year terms)
elections: last held on 22 May 2016 (next to be held in May 2021)
election results: percent of vote by party - CPV 95.8%, non-party members 4.2%; seats by party - CPV 473, non-party CPV-approved 19, self-nominated 2; note - 496 candidates elected, 2 CPV candidates-elect were disqualified
Judicial branch:
highest court(s): Supreme People's Court (consists of the chief justice and 13 judges)
judge selection and term of office: chief justice elected by the National Assembly on the recommendation of the president for a 5-year, renewable term; other judges appointed by the president for 5-year terms
subordinate courts: Court of Appeals; administrative, civil, criminal, economic, and labor courts; Central Military Court; People's Special Courts; note - the National Assembly can establish special tribunals
Political parties and leaders:
Communist Party of Vietnam or CPV [Nguyen Phu TRONG]
note: other parties proscribed
Political pressure groups and leaders:
8406 Bloc
Democratic Party of Vietnam or DPV
People's Democratic Party Vietnam or PDP-VN
Alliance for Democracy
note: these groups advocate democracy but are not recognized by the government
International organization participation:
ADB, APEC, ARF, ASEAN, CICA, CP, EAS, FAO, G-77, IAEA, IBRD, ICAO, ICC (NGOs), ICRM, IDA, IFAD, IFC, IFRCS, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, MIGA, NAM, OIF, OPCW, PCA, UN, UNCTAD, UNESCO, UNIDO, UNWTO, UPU, WCO, WFTU (NGOs), WHO, WIPO, WMO, WTO
Diplomatic representation in the US:
chief of mission: Ambassador Pham Quang VINH (since 23 February 2015)
chancery: 1233 20th Street NW, Suite 400, Washington, DC 20036
telephone: [1] (202) 861-0737
FAX: [1] (202) 861-0917
consulate(s) general: Houston, San Francisco
consulate: New York
Diplomatic representation from the US:
chief of mission: Ambassador Daniel KRITENBRINK (since 6 November 2017)
embassy: 7 Lang Ha Street, Hanoi
mailing address: 7 Lang Ha Street, Ba Dinh District, Hanoi; 4550 Hanoi Place, Washington, DC 20521-4550
telephone: [84] (24) 3850-5000
FAX: [84] (24) 3850-5010
consulate(s) general: Ho Chi Minh City
Flag description:
red field with a large yellow five-pointed star in the center; red symbolizes revolution and blood, the five-pointed star represents the five elements of the populace - peasants, workers, intellectuals, traders, and soldiers - that unite to build socialism
National symbol(s):
yellow, five-pointed star on red field; lotus blossom; national colors: red, yellow
National anthem:
name: "Tien quan ca" (The Song of the Marching Troops)
lyrics/music: Nguyen Van CAO
note: adopted as the national anthem of the Democratic Republic of Vietnam in 1945; it became the national anthem of the unified Socialist Republic of Vietnam in 1976; although it consists of two verses, only the first is used as the official anthem

Economy

Economy - overview:
Vietnam is a densely populated developing country that has been transitioning since 1986 from the rigidities of a centrally planned, highly agrarian economy to a more industrial and market based economy, and it has raised incomes substantially. Vietnam exceeded its 2017 GDP growth target of 6.7% with growth of 6.8%, primarily due to unexpected increases in domestic demand, and strong manufacturing exports.
Vietnam has a young population, stable political system, commitment to sustainable growth, relatively low inflation, stable currency, strong FDI inflows, and strong manufacturing sector. In addition, the country is committed to continuing its global economic integration. Vietnam joined the WTO in January 2007 and concluded several free trade agreements in 2015-16, including the EU-Vietnam Free Trade Agreement (which the EU has not yet ratified), the Korean Free Trade Agreement, and the Eurasian Economic Union Free Trade Agreement. In 2017, Vietnam successfully chaired the Asia-Pacific Economic Cooperation (APEC) Conference with its key priorities including inclusive growth, innovation, strengthening small and medium enterprises, food security, and climate change. Seeking to diversify its opportunities, Vietnam also signed the Comprehensive and Progressive Agreement for the Transpacific Partnership in 2018 and continued to pursue the Regional Comprehensive Economic Partnership.
To continue its trajectory of strong economic growth, the government acknowledges the need to spark a ?second wave’ of reforms, including reforming state-owned-enterprises, reducing red tape, increasing business sector transparency, reducing the level of non-performing loans in the banking sector, and increasing financial sector transparency. Vietnam’s public debt to GDP ratio is nearing the government mandated ceiling of 65%.
In 2016, Vietnam cancelled its civilian nuclear energy development program, citing public concerns about safety and the high cost of the program; it faces growing pressure on energy infrastructure. Overall, the country’s infrastructure fails to meet the needs of an expanding middle class. Vietnam has demonstrated a commitment to sustainable growth over the last several years, but despite the recent speed-up in economic growth the government remains cautious about the risk of external shocks.
GDP (purchasing power parity):
$643.9 billion (2017 est.)
$605.7 billion (2016 est.)
$570.3 billion (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 36
GDP (official exchange rate):
$216 billion (2017 est.)
GDP - real growth rate:
6.3% (2017 est.)
6.2% (2016 est.)
6.7% (2015 est.)
country comparison to the world: 20
GDP - per capita (PPP):
$6,900 (2017 est.)
$6,500 (2016 est.)
$6,200 (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 158
Gross national saving:
28% of GDP (2017 est.)
30.7% of GDP (2016 est.)
27.5% of GDP (2015 est.)
country comparison to the world: 36
GDP - composition, by end use:
household consumption: 68.5%
government consumption: 6.6%
investment in fixed capital: 24.8%
investment in inventories: 2.9%
exports of goods and services: 98.6%
imports of goods and services: -101.4% (2017 est.)
GDP - composition, by sector of origin:
agriculture: 15.9%
industry: 32.7%
services: 41.3% (2017 est.)
Agriculture - products:
rice, coffee, rubber, tea, pepper, soybeans, cashews, sugar cane, peanuts, bananas; pork; poultry; seafood
Industries:
food processing, garments, shoes, machine-building; mining, coal, steel; cement, chemical fertilizer, glass, tires, oil, mobile phones
Industrial production growth rate:
6.4% (2017 est.)
country comparison to the world: 31
Labor force:
56.46 million (2017 est.)
country comparison to the world: 12
Labor force - by occupation:
agriculture: 48%
industry: 21%
services: 31% (2012 est.)
Unemployment rate:
2.3% (2017 est.)
2.3% (2016 est.)
country comparison to the world: 19
Population below poverty line:
11.3% (2012 est.)
Household income or consumption by percentage share:
lowest 10%: 3.2%
highest 10%: 30.2% (2014 est.)
Distribution of family income - Gini index:
37.6 (2008 est.)
36.1 (1998 est.)
country comparison to the world: 81
Budget:
revenues: $49.41 billion
expenditures: $61.14 billion (2017 est.)
Taxes and other revenues:
22.9% of GDP (2017 est.)
country comparison to the world: 131
Budget surplus (+) or deficit (-):
-5.4% of GDP (2017 est.)
country comparison to the world: 168
Public debt:
62.3% of GDP (2017 est.)
61.6% of GDP (2016 est.)
note: official data; data cover general government debt, and includes 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 intra-governmental debt; intra-governmental 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 are not sold at public auctions
country comparison to the world: 70
Fiscal year:
calendar year
Inflation rate (consumer prices):
4.4% (2017 est.)
2.7% (2016 est.)
country comparison to the world: 164
Central bank discount rate:
9% (31 December 2012 est.)
15% (31 December 2011 est.)
country comparison to the world: 29
Commercial bank prime lending rate:
6.8% (31 December 2017 est.)
6.96% (31 December 2016 est.)
country comparison to the world: 120
Stock of narrow money:
$84.22 billion (31 December 2017 est.)
$73.48 billion (31 December 2016 est.)
country comparison to the world: 44
Stock of broad money:
$341.4 billion (31 December 2017 est.)
$299.2 billion (31 December 2016 est.)
country comparison to the world: 33
Stock of domestic credit:
$320.1 billion (31 December 2017 est.)
$277.3 billion (31 December 2016 est.)
country comparison to the world: 36
Market value of publicly traded shares:
$51.88 billion (31 December 2015 est.)
$46.07 billion (31 December 2014 est.)
$40.06 billion (31 December 2013 est.)
country comparison to the world: 51
Current account balance:
$2.794 billion (2017 est.)
$8.235 billion (2016 est.)
country comparison to the world: 31
Exports:
$194.6 billion (2017 est.)
$176.6 billion (2016 est.)
country comparison to the world: 28
Exports - commodities:
clothes, shoes, electronics, seafood, crude oil, rice, coffee, wooden products, machinery
Exports - partners:
US 19.4%, China 16.6%, Japan 7.9%, South Korea 6.9% (2017)
Imports:
$190.1 billion (2017 est.)
$162.6 billion (2016 est.)
country comparison to the world: 25
Imports - commodities:
machinery and equipment, petroleum products, steel products, raw materials for the clothing and shoe industries, electronics, plastics, automobiles
Imports - partners:
China 27.6%, South Korea 22.1%, Japan 7.9%, Taiwan 6%, Thailand 5%, US 4.4% (2017)
Reserves of foreign exchange and gold:
$38.75 billion (31 December 2017 est.)
$36.91 billion (31 December 2016 est.)
country comparison to the world: 45
Debt - external:
$91.79 billion (31 December 2017 est.)
$84.34 billion (31 December 2016 est.)
country comparison to the world: 52
Stock of direct foreign investment - at home:
$128.3 billion (31 December 2017 est.)
$115.4 billion (31 December 2016 est.)
country comparison to the world: 42
Stock of direct foreign investment - abroad:
$7.7 billion (31 December 2009 est.)
$5.3 billion (31 December 2008 est.)
country comparison to the world: 66
Exchange rates:
dong (VND) per US dollar -
22,784 (2017 est.)
22,355 (2016 est.)
22,355 (2015 est.)
21,909 (2014 est.)
21,189 (2013 est.)

Energy

Electricity access:
population without electricity: 2,600,000
electrification - total population: 99%
electrification - urban areas: 100%
electrification - rural areas: 98% (2013)
Electricity - production:
146.9 billion kWh (2015 est.)
country comparison to the world: 29
Electricity - consumption:
134.3 billion kWh (2015 est.)
country comparison to the world: 26
Electricity - exports:
811 million kWh (2015 est.)
country comparison to the world: 60
Electricity - imports:
2.393 billion kWh (2015 est.)
country comparison to the world: 52
Electricity - installed generating capacity:
40.49 million kW (2015 est.)
country comparison to the world: 25
Electricity - from fossil fuels:
58% of total installed capacity (2015 est.)
country comparison to the world: 134
Electricity - from nuclear fuels:
0% of total installed capacity (2015 est.)
country comparison to the world: 206
Electricity - from hydroelectric plants:
41% of total installed capacity (2015 est.)
country comparison to the world: 49
Electricity - from other renewable sources:
1% of total installed capacity (2015 est.)
country comparison to the world: 141
Crude oil - production:
301,800 bbl/day (2016 est.)
country comparison to the world: 32
Crude oil - exports:
183,600 bbl/day (2014 est.)
country comparison to the world: 32
Crude oil - imports:
0 bbl/day (2014 est.)
country comparison to the world: 208
Crude oil - proved reserves:
4.4 billion bbl (1 January 2017 est.)
country comparison to the world: 26
Refined petroleum products - production:
156,900 bbl/day (2014 est.)
country comparison to the world: 57
Refined petroleum products - consumption:
422,000 bbl/day (2015 est.)
country comparison to the world: 37
Refined petroleum products - exports:
28,860 bbl/day (2014 est.)
country comparison to the world: 62
Refined petroleum products - imports:
256,600 bbl/day (2014 est.)
country comparison to the world: 28
Natural gas - production:
9.08 billion cu m (2015 est.)
country comparison to the world: 43
Natural gas - consumption:
15.5 billion cu m (2015 est.)
country comparison to the world: 48
Natural gas - exports:
0 cu m (2013 est.)
country comparison to the world: 207
Natural gas - imports:
0 cu m (2013 est.)
country comparison to the world: 206
Natural gas - proved reserves:
699.4 billion cu m (1 January 2017 est.)
country comparison to the world: 29
Carbon dioxide emissions from consumption of energy:
142 million Mt (2013 est.)
country comparison to the world: 34

Communications

Telephones - fixed lines:
total subscriptions: 5,598,017
subscriptions per 100 inhabitants: 6 (July 2016 est.)
country comparison to the world: 28
Telephones - mobile cellular:
total: 120,600,235
subscriptions per 100 inhabitants: 125 (July 2016 est.)
country comparison to the world: 12
Telephone system:
general assessment: Vietnam is putting considerable effort into modernization and expansion of its telecommunication system
domestic: all provincial exchanges are digitalized and connected to Hanoi, Da Nang, and Ho Chi Minh City by fiber-optic cable or microwave radio relay networks; main lines have been increased, and the use of mobile telephones is growing rapidly
international: country code - 84; a landing point for the SEA-ME-WE-3, the C2C, and Thailand-Vietnam-Hong Kong submarine cable systems; the Asia-America Gateway submarine cable system, completed in 2009, provided new access links to Asia and the US; satellite earth stations - 2 Intersputnik (Indian Ocean region) (2016)
Broadcast media:
government controls all broadcast media exercising oversight through the Ministry of Information and Communication (MIC); government-controlled national TV provider, Vietnam Television (VTV), operates a network of several channels with regional broadcasting centers; programming is relayed nationwide via a network of provincial and municipal TV stations; law limits access to satellite TV but many households are able to access foreign programming via home satellite equipment; government-controlled Voice of Vietnam, the national radio broadcaster, broadcasts on several channels and is repeated on AM, FM, and shortwave stations throughout Vietnam (2018)
Internet country code:
.vn
Internet users:
total: 49.741 million
percent of population: 52.7% (July 2016 est.)
country comparison to the world: 14

Transportation

National air transport system:
number of registered air carriers: 4
inventory of registered aircraft operated by air carriers: 140
annual passenger traffic on registered air carriers: 29,944,771
annual freight traffic on registered air carriers: 384,470,240 mt-km (2015)
Civil aircraft registration country code prefix:
VN (2016)
Airports:
45 (2013)
country comparison to the world: 97
Airports - with paved runways:
total: 38
over 3,047 m: 10
2,438 to 3,047 m: 6
1,524 to 2,437 m: 13
914 to 1,523 m: 9 (2013)
Airports - with unpaved runways:
total: 7
1,524 to 2,437 m: 1
914 to 1,523 m: 3
under 914 m: 3 (2013)
Heliports:
1 (2013)
Pipelines:
condensate 72 km; condensate/gas 398 km; gas 955 km; oil 128 km; oil/gas/water 33 km; refined products 206 km; water 13 km (2013)
Railways:
total: 2,600 km
standard gauge: 178 km 1.435-m gauge; 253 km mixed gauge
narrow gauge: 2,169 km 1.000-m gauge (2014)
country comparison to the world: 66
Roadways:
total: 195,468 km
paved: 148,338 km
unpaved: 47,130 km (2013)
country comparison to the world: 28
Waterways:
47,130 km (30,831 km weight under 50 tons) (2011)
country comparison to the world: 4
Merchant marine:
total: 1,818
by type: bulk carrier 81, container ship 34, general cargo 1,259, oil tanker 109, other 335 (2017)
country comparison to the world: 13
Ports and terminals:
major seaport(s): Cam Pha Port, Da Nang, Haiphong, Phu My, Quy Nhon
river port(s): Ho Chi Minh (Mekong)
container port(s) (TEUs): Saigon (6,556,000), Saigon New Port (5,026,000) (2015)

Military & Security

Military expenditures:
2.44% of GDP (2016)
2.36% of GDP (2015)
2.29% of GDP (2014)
2.18% of GDP (2013)
2.16% of GDP (2012)
country comparison to the world: 38
Military branches:
People's Armed Forces: People's Army of Vietnam (PAVN, includes Vietnam People's Navy (with Naval Infantry), Vietnam People's Air and Air Defense Force, Border Defense Command, Coast Guard) (2013)
Military service age and obligation:
18-25 years of age for male compulsory and voluntary military service; females may volunteer for active duty military service; conscription typically takes place twice annually and service obligation is 18 months (Army, Air Defense), 2 years (Navy and Air Force); 18-45 years of age (male) or 18-40 years of age (female) for Militia Force or Self Defense Force service; males may enroll in military schools at age 17 (2013)
Maritime threats:
the International Maritime Bureau reports the territorial and offshore waters in the South China Sea as high risk for piracy and armed robbery against ships; numerous commercial vessels have been attacked and hijacked both at anchor and while underway; hijacked vessels are often disguised and cargo diverted to ports in East Asia; crews have been murdered or cast adrift; the number of reported incidents declined from 15 in 2015 to seven in 2016, primarily near the port of Vung Tau

Transnational Issues

Disputes - international:
southeast Asian states have enhanced border surveillance to check the spread of avian flu; Cambodia and Laos protest Vietnamese squatters and armed encroachments along border; Cambodia accuses Vietnam of a wide variety of illicit cross-border activities; progress on a joint development area with Cambodia is hampered by an unresolved dispute over sovereignty of offshore islands; an estimated 300,000 Vietnamese refugees reside in China; establishment of a maritime boundary with Cambodia is hampered by unresolved dispute over the sovereignty of offshore islands; the decade-long demarcation of the China-Vietnam land boundary was completed in 2009; China occupies the Paracel Islands also claimed by Vietnam and Taiwan; Brunei claims a maritime boundary extending beyond as far as a median with Vietnam, thus asserting an implicit claim to Lousia Reef; the 2002 "Declaration on the Conduct of Parties in the South China Sea" has eased tensions but falls short of a legally binding "code of conduct" desired by several of the disputants; Vietnam continues to expand construction of facilities in the Spratly Islands; in March 2005, the national oil companies of China, the Philippines, and Vietnam signed a joint accord to conduct marine seismic activities in the Spratly Islands; Economic Exclusion Zone negotiations with Indonesia are ongoing, and the two countries in Fall 2011 agreed to work together to reduce illegal fishing along their maritime boundary
Refugees and internally displaced persons:
stateless persons: 11,000 (2016); note - Vietnam's stateless ethnic Chinese Cambodian population dates to the 1970s when thousands of Cambodians fled to Vietnam to escape the Khmer Rouge and were no longer recognized as Cambodian citizens; Vietnamese women who gave up their citizenship to marry foreign men have found themselves stateless after divorcing and returning home to Vietnam; the government addressed this problem in 2009, and Vietnamese women are beginning to reclaim their citizenship
Illicit drugs:
minor producer of opium poppy; probable minor transit point for Southeast Asian heroin; government continues to face domestic opium/heroin/methamphetamine addiction problems despite longstanding crackdowns; enforces the death penalty for drug trafficking

Economic Indicators for Vietnam including actual values, historical data, and latest data updates for the Vietnam economy.