US Report on Vietnam Economy
12.05.09 The US Department of State did a recent update on information about Vietnam on October 2009 . There are many positive glances at the country indicating that it’s still growing at an amazing despite the recession that is troubling many parts of the world:
GDP (2008): $84.98 billion.
Real growth rate: 6.23% (2008); 3.9% (the first 6 months of 2009 year-on-year).
Per capita income (2008): $1,024.
Inflation rate (January 2009): 17.48% year-on-year.
External debt (2008): 29.8% of GDP, $21.8 billion.
Natural resources: Coal, crude oil, zinc, copper, silver, gold, manganese, iron.
Agriculture, forestry, and fisheries (21.99% of GDP, 2008):
- Principal products–rice, coffee, cashews, maize, pepper (spice), sweet potato, pork, peanut, cotton, plus extensive aquaculture of both fish and shellfish species.
- Cultivated land–12.2 million hectares.
- Land use–21% arable; 28% forest and woodland; 51% other.
Industry and construction (39.86% of GDP, 2008):
- Principal types–mining and quarrying, manufacturing, electricity, gas, water supply, cement, phosphate, and steel.
Services (38.10% of GDP, 2008):
- Principal types–tourism, wholesale and retail, repair of vehicles and personal goods, hotel and restaurant, transport storage, telecommunications.
Trade (2008): Exports–$62.9 billion (first 8 months 2009: $37.3 billion, down by 14.2% year-on-year).
- Principal exports–crude oil, garments/textiles, footwear, fishery and seafood products, rice (world’s second-largest exporter), pepper (spice; world’s largest exporter), wood products, coffee, rubber, handicrafts.
- Major export partners–U.S., EU, Japan, China, Australia, Singapore, Germany, and the United Kingdom.
- Imports–$80.4 billion (first 8 months of 2009: $42.4 billion, down by 28.2% year-on-year).
- Principal imports–machinery, oil and gas, iron and steel, garment materials, plastics.
- Major import partners–China, Japan, Singapore, Taiwan, South Korea, Hong Kong, and Thailand.
- Exports to U.S. (2008)–$12.9 billion. Imports from U.S. (2008)–$2.8 billion.