Vietnam's economic situation in the first 9 months of 2019

Last Updated: 25th June 2019 General Nation Socialist Republic of Vietnam Capital Hanoi (2017 population 7.66 million) Independence day September 2nd 1945 Politics One-party state (Communist State) Army Vietnam’s People Army Currency Vietnam Dong Geography Location Southeast Asia Provinces 5 municipalities and 58 provinces Area 331,230.8 km2 Climate Tropical and Monsoon Time zone GMT+7 Demography Population (2018 July est) 97.04 million Density (2017 est) 305 people/km2 Urban population (2017 est) 32.2 million (33.6%) Average age (2017) 30.8 Languages Vietnamese, English Minorities’ languages Main language Vietnamese Ethnicity 54 Ethnic groups (Kinh (Viet) 85.7%) Life expectancy at birth (2018) 73.9 years old HDI (2018) 0.694 Economy GDP (2017) 5,119,892 billion VND (220.4

Vietnam ranked among the world’s top highest female labour-force participation rates ranking. Statistics from ILO shows that, as of 2018, Vietnam ranked 12th in world and 2nd in South East Asia as their proportion of women aged 15 to 64 in the labour force reached over 79%. Along with high female labor-force participation share, the proportion of women in senior managing positions in enterprises operating in Vietnam was also ranked 2nd in Asia at 36% as stated by Grant Thornton in its 2019 Women in business report. These figures reflect the crucial role of Vietnamese women in the society and the shifting of balance of power between them and their

The total revenue of Vietnam tourism industry in 2018 was calculated at USD 26,655 million (~VND 620,000 billion). The growth rate achieved 21.4%, decreased 6.1% in comparison with 2017 (27.5%). The total quantity of tourists in 2018 also reached 95.4 million, rose 10.8% over 2017 (86.1 million). In particular, the quantity of foreigner visitors in 2018 was more than 15.4 million, increased by 19.9% comparing to the same period last year. China and Korea are two countries have the most citizens visiting Vietnam with the quantity which are respectively 4.9 million and 3.4 million, even larger than the quantity of Europe (2 million) and America (0.9 million). Even though the

Unemployment rate (overall) Unemployment rate of working-age labor was 2.24%, lower than the rate of 2.3% in 2016, of which it was 3.18% for the urban area; 1.78% for the rural area.   Underemployment rate (overall) Underemployment rate of working-age labor = 1.62%, lower than the rate of 1.66% in 2016, of which it was 0.82% for the urban area and 2.03% for the rural area.   Source: General Statistics Office

Revenue   Total government revenues = 1,288.665 trillion dongs, of which domestic revenues = 1,032.164 trillion dongs, collecting from export and import duty = 97.018 trillion dongs and from oil = 49.5 trillion dongs.   Expenditure   Total government expenditures = 1462.965 trillion dongs, of which spending for development investment = 365.526 trillion dongs; spending for social and economic services = 907.111 trillion dongs; for activities of state management agencies, the Communist party and unions = 128.08 trillion dongs.   Source: General Statistics Office

Export (Services)   Estimated service export turnovers in 2016 = US$ 12.3 billion (up 8.9% over 2015), of which travel services gained US$ 8.3 billion (67.3% of the total turnovers and up 12.2%); transport services achieved US$ 2.4 billion (20% and up 0.7%).   Import (Services)   Estimated service import turnovers in 2016 = US$ 17.7 billion (up 7% from 2015), of which transport services imports gained US$ 8.9 billion (50.6% of the total turnovers and up 3.8%); travel services obtained US$ 4.5 billion (25.4% and up 27.9%). Trade deficit of services in 2016 was US$ 5.4 billion, equaling 44.1% of service import turnovers.   Source: General Statistics Office

Retail sales (Total)   Total estimated retail sales of consumer goods and services= 3527.4 trillion dongs (up 10.2% over 2015), if the price factor were excluded, the growth rate would be 7.8%, lower than the growth rate of 8.5% in the previous year due to having no significant change in purchasing power, while the consumer price this year was higher than in 2015.   Transportation & Telecommunication   Estimated passenger carriage = 3620.5 million passengers (raised by 9.6%). Estimated cargo carriage =1275.4 million tons (up 10.6%). Estimated telecommunication sales = 381.7 trillion dongs (up 6.6% over 2015).   Tourist International visitors to Vietnam = 10.01 million arrivals (up 26% from

Overall   In general, trade balance of goods in 2016 was a surplus of US$2.68 billion, of which the domestic economic sector had a trade deficit of US$ 21.02 billion; the FDI sector had a trade surplus of US$ 23.70 billion.   Export (Goods) Estimated export turnovers of goods in 2016 = US$ 175.9 billion (up 8.6% from 2015), of which the domestic economic sector achieved US$ 50.0 billion (up 4.8%); the FDI sector (including crude oil) gained US$ 125.9 billion (up 10.2%)   Import (Goods) Estimated import turnovers of goods in 2016 = US$ 173.3 billion (up 4.6% from 2015), of which the domestic economic sector gained US$ 71.1

Last Updated：17th Jan 2017 General Nation Social Republic of Vietnam Capital Hanoi ( 7.25 million) Independence day September 2nd  1945 Politics One-party state Army Vietnam’s People Army Currency Vietnam Dong Geography Location Southeast Asia Provinces 5 municipalities and 58 provinces Area 330966.9 km2 Climate Tropical and Monsoon Time zone GMT+7 Demography Population (2016 Feb) 94.1 million rank 14 in world and 8 in Asia Density 305 people/km2 Urban population 32.2 million (33.6%) Average age 30.8 Languages Vietnamese, Minorities’ languages Main language Vietnamese Ethnicity 54 Ethnic groups (87% total) Life expectancy at birth 73 Religion Buddhism, Cathlicism, Cao Dai HDI (2014) 0.666 Economy GDP (nominal, 2016) 4,502,700 billion Per capita 48.6