Economy - overview:
Vietnam is a densely populated developing country that has been transitioning from the rigidities of a centrally-planned economy since 1986. Agriculture's share of economic output has shrunk from about 25% in 2000 to 18% in 2014, while industry's share increased from 36% to 38% in the same period. State-owned enterprises now account for only about 40% of GDP.Vietnamese authorities have reaffirmed their commitment to economic modernization and a more open economy. Vietnam joined the WTO in January 2007, which has promoted more competitive, export-driven industries. Vietnam was one of 12-nations that concluded the Trans-Pacific Partnership free trade agreement negotiations in 2015.Hanoi has oscillated between promoting growth and emphasizing macroeconomic stability in recent years. During 2015, Vietnam's managed currency, the dong, depreciated about 5%. Poverty has declined significantly, and Vietnam is working to create jobs to meet the challenge of a labor force that is growing by more than one million people every year.Vietnam is trying to reform its economy by restructuring public investment, state-owned enterprises, and the banking sector, although Hanoi’s progress in meeting its goals is lagging behind the proposed schedule. Vietnam's economy continues to face challenges from an undercapitalized banking sector and nonperforming loans.

GDP (purchasing power parity):
$594.9 billion (2016 est.) $560.7 billion (2015 est.) $525.6 billion (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 37
[see also: GDP country ranks ]

GDP (official exchange rate):
$200.5 billion (2015 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
6.1% (2016 est.) 6.7% (2015 est.) 6% (2014 est.)
country comparison to the world: 18
[see also: GDP - real growth rate country ranks ]

GDP - per capita (PPP):
$6,400 (2016 est.) $6,100 (2015 est.) $5,800 (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 161
[see also: GDP - per capita country ranks ]

Gross national saving:
28.4% of GDP (2016 est.) 28.1% of GDP (2015 est.) 31.9% of GDP (2014 est.)
country comparison to the world: 33
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 65.6%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 6.5%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 25.7%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 3.9%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 89.6%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -91.3% (2016 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 17%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 39%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 44% (2016 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

Agriculture - products:
rice, coffee, rubber, tea, pepper, soybeans, cashews, sugar cane, peanuts, bananas; poultry; fish, seafood

Industries:
food processing, garments, shoes, machine-building; mining, coal, steel; cement, chemical fertilizer, glass, tires, oil, mobile phones

Industrial production growth rate:
7% (2016 est.)
country comparison to the world: 15
[see also: Industrial production growth rate country ranks ]

Labor force:
54.93 million (2016 est.)
country comparison to the world: 12
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 48%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 21%
[see also: Labor force - by occupation - industry country ranks ]
services: 31% (2012)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
3.7% (2016 est.) 3.5% (2015 est.)
country comparison to the world: 30
[see also: Unemployment rate country ranks ]

Population below poverty line:
11.3% (2012 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 3.2%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 30.2% (2008)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
37.6 (2008) 36.1 (1998)
country comparison to the world: 77
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $48.04 billion
[see also: Budget revenues country ranks ]
expenditures: $57.21 billion (2016 est.)
[see also: Budget expenditures country ranks ]

Taxes and other revenues:
24% of GDP (2016 est.)
country comparison to the world: 122
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-4.6% of GDP (2016 est.)
country comparison to the world: 150
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
54.9% of GDP (2016 est.) 54.3% of GDP (2015 est.)
note: 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 i
country comparison to the world: 76
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
2.8% (2016 est.) 0.9% (2015 est.)
country comparison to the world: 135
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
9% (31 December 2012) 15% (31 December 2011)
country comparison to the world: 31
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
6.8% (31 December 2016 est.) 7.12% (31 December 2015 est.)
country comparison to the world: 120
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$74.94 billion (31 December 2016 est.) $62.92 billion (31 December 2015 est.)
country comparison to the world: 44
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$300.8 billion (31 December 2016 est.) $256.7 billion (31 December 2015 est.)
country comparison to the world: 35
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$285.8 billion (31 December 2016 est.) $239.3 billion (31 December 2015 est.)
country comparison to the world: 37
[see also: Stock of domestic credit country ranks ]

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
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
$770 million (2016 est.) $906 million (2015 est.)
country comparison to the world: 35
[see also: Current account balance country ranks ]

Exports:
$169.2 billion (2016 est.) $162.1 billion (2015 est.)
country comparison to the world: 27
[see also: Exports country ranks ]

Exports - commodities:
clothes, shoes, electronics, seafood, crude oil, rice, coffee, wooden products, machinery

Exports - partners:
US 21.2%, China 13.3%, Japan 8.4%, South Korea 5.5%, Germany 4.1% (2015)

Imports:
$161 billion (2016 est.) $154.7 billion (2015 est.)
country comparison to the world: 26
[see also: Imports country ranks ]

Imports - commodities:
machinery and equipment, petroleum products, steel products, raw materials for the clothing and shoe industries, electronics, plastics, automobiles

Imports - partners:
China 34.1%, South Korea 14.3%, Singapore 6.5%, Japan 6.4%, Hong Kong 5.1%, Thailand 4.5% (2015)

Reserves of foreign exchange and gold:
$34.66 billion (31 December 2016 est.) $28.62 billion (31 December 2015 est.)
country comparison to the world: 46
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$78.88 billion (31 December 2016 est.) $73.33 billion (31 December 2015 est.)
country comparison to the world: 54
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$114.7 billion (31 December 2016 est.) $102.7 billion (31 December 2015 est.)
country comparison to the world: 44
[see also: Stock of direct foreign investment - at home country ranks ]

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: 67
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
dong (VND) per US dollar - 22,347 (2016 est.) 21,909 (2015 est.) 21,909 (2014 est.) 21,189 (2013 est.) 20,859 (2012 est.)