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Defining a Domestic PSD Programme
Vietnam’s development story
Exports, poverty reduction through fostering of agricultural economy and private sector growth have been major factors in Vietnam’s economic development
Key indicators and growth facts
 

Basic indicators

  • Population: 81.3 million (2003)
  • GDP per capita, US$ at PPP: 2,300 (2002)
  • GDP per capita annual growth rate: 5.9% (1990-2002)
  • HDI (2002): a) Value: 0.691; b) Rank: 112 (out of 177)

Economic indicators

  • Value added in % GDP (2003): agriculture: 21.8%; industry: 40.0%; services: 38.2%
  • FDI inflows (2003): US$ 1.45 billion
  • Trade in goods as share of GDP in %: 115.0 (2003)
  • Urban unemployment rate (2003): 5.6% (rural estimated much higher)
  • Since 1986, Vietnam has witnessed a transformation from a centrally planned to a market-oriented economy
  • Since 1994, after China, Vietnam had Asia’s best performing economy; even during the Asian financial crisis of the late 1990s, growth in Vietnam never fell below 4.8%
  • Informal economy is at 15.6% (GNI; 2003) which is slightly below OECD’s of 16.8 %
  • Domestic private sector has grown rapidly; during the 3 years following passage of enterprise law, 54,000 private businesses established (1.75 million jobs)
  • FDI has increased (foreign-invested firms account for 35% of industrial GDP)
Sources: Asian Development Bank; IMF; IFC; GSO; SBV; UN Conference on Trade and Development; UNDP; World Bank