Fls1570883 cataloginginpublication data asian development bank. Despite recent clashes with china that made the headlines in the media, some very positive economic and financial factors have attracted a lot of capital in vietnam. Vietnams economic recovery is on a solid path as gdp. In januaryafebruary, growth in industrial production, retail sales, tourist arrivals and exports moderated from q4. This page has economic forecasts for vietnam including a longterm outlook for the next decades, plus mediumterm expectations for the next four quarters and shortterm market predictions for the next release affecting the vietnam economy. In 2018, vietnams gross domestic product gdp amounted to around 241. Doubledigit manufacturing growth boosted industry, while a surge in visitor arrivals, a healthy labor market and mild price pressures propelled the services sector. With 189 member countries, staff from more than 170 countries, and offices in over locations, the world bank group is a unique global partnership. Recent developments and outlook 1 migration and remittance trends and outlook 1.
These quickresponse articles analyse key events in terms of how we expect them to affect our political and economic forecast, and are closely tied to the structure of our country report service. Government spending and debt remained in check and bank capital rules were strengthened. Nov 26, 2019 in 2018, vietnams gross domestic product gdp amounted to around 241. This report was prepared by viet tuan dinh, gabriel demombynes and reena badianimagnusson and with. Indonesia is southeast asias largest economy, rich in all types of natural resources as well as cultural diversity. Five charts explain vietnams economic outlook despite rising trade tensions and volatility in emerging economies throughout 2018, vietnam s economy saw broadbased growth and low inflation. In this report, we explore the drivers of growth in vietnams retail sector, and take a look at. Jul 16, 2019 five charts explain vietnams economic outlook. January 09, 2019 vietnam macro economic overview 4q2018 and outlook 2019 stable macro, sustainable growth gdp. The outlook for the east asia and the pacific region continues to reflect several. With a population of nearly 100 million people, over 60% are under the age of 35, viet nam is wellpositioned to supply a young, abundant and quality workforce at competitive cost.
World economic outlook imf, global economic prospects wb. The economic outlook for southeast asia, china and india is a biannual publication on regional economic growth, development and regional integration in emerging asia. Over the past decade, vietnam has emerged as southeast asias most intriguing economic story. It focuses on the economic conditions of association of southeast asian nations asean member countries. It will be one of the main beneficiaries of the ongoing uschina trade war as relocation out of china accelerates. An update on vietnams recent economic developments.
Beyond the middleincome trap economic outlook for southeast. Emerging market, emerging growth 5 population vietnams population of approximately 90 million4 see figure 1 is the main driver of growth in the retail market. All are large and emerging markets with modern financial and industrial infrastructure. Vietnam economy gdp, inflation, cpi and interest rate. Since joining asean, viet nam has enjoyed years of robust growth and macroeconomic stability, a relatively stable exchange rate, and strengthening external trade relations. Oecd ilibrary economic outlook for southeast asia, china. Vietnam global economic prospects examines trends for the world economy and how they affect developing countries. Bti 2006 pdf bti 2003 pdf bti 2008 bti 2010 bti 2012 bti 2014 bti 2016 bti 2018 vietnam country report. Financial development and economic growth in vietnam.
Thailand, malaysia, singapore, and indonesia are also demonstrating fairly rapid economic growth in 2014. Vietnam economic outlook report the economist intelligence unit. Revenue productivity is revenue to gdp ratio divided by tax rate. A young and dynamic democracy, it is urbanising and modernising rapidly. Indeed, the rise of ecommerce and digital retail channels in vietnam is one of the top trends to watch. Policymakers can compare economic policies across a range of countries to determine which bring the greatest economic benefits. Vietnam investment growth slows slightly in q4 but remains rapid. Fitch ratings and moodys investors service raised vietnams credit rating this year, citing improved economic stability, with moodys also revising its outlook on the countrys banking. In addition, the country is committed to continuing its global economic integration. Economic indicators for vietnam including actual values, historical data charts, an economic calendar, timeseries statistics, business news, long term forecasts and.
Researchers can use the economic outlook report to assess growth prospects for vietnam in the short, medium and long term. Vietnam joined the wto in january 2007 and concluded several free trade agreements in 201516, including the euvietnam free trade agreement which the eu has not yet ratified, the korean free trade agreement, and the eurasian economic union free trade agreement. Retail in vietnam navigating the digital retail landscape. Vietnam gross domestic product gdp growth rate 2024. The economy performed better than expected in the third quarter according to recent data, with both the industrial and services sectors picking up speed. Workers rights 2018 special 301 report pdf 605kb 2018 national trade estimate report pdf 1. Overall economic growth, including a sizable young population, rapid urbanization, and. Vietnams real gross domestic product gdp has been experiencing positive growth for the past five years since 2014, and is projected to continue to do so through 2024. By making use of a panel dataset that covers 61 provinces of vietnam over the period 1997 to 2006, this paper examines the link between financial development and economic growth. A political economy of economic restructuring in vietnam. Vietnam is a member of asiapacific economic cooperation, association of southeast asian nations and the world trade organization. Economic forums 2017 global competitiveness report. Domestic policy reform, benign commodity prices, and some.
Not because it is the regions largest economy a title that belongs to indonesia or its fastest growing a position that moves between myanmar, cambodia, and laos. The economy has lost momentum so far this year according to the most recent data, due to the fallout from covid19. Beyond the middleincome trap economic outlook for southeast asia, china and india 2014. The government will also pursue economic liberalisation over the next few years.
Economic outlook for southeast asia, china and india 2014. Key indicators the key indicators for asia and the pacific publication presents data regarding the economic, financial, social, and environmental situations in a broad range of countries across the region. The 2014 edition of the economic outlook for southeast asia, china and india. Vietnam economy and stock market fy2018 outlook fiachra mac cana head of research and managing director ho chi minh city securities corporation vn. Vietnam has been ahead of the game when it comes to signing free trade dealsthe country has signed 16 bilateral and multilateral free trade agreements. The future is looking brighter for vietnam as the country begins the year of the. Vietnam will remain one of the fastestgrowing economies in the asiapacific region over the medium term. Vietnams middle class population currently at 10% is believed to be the fastest growing in southeast asia. Economic overview vietnams economy has faced instability since 2008 and has been gradually recovering since late 2012. Continuing the recovery trend, vietnams economic performance has been improving over the year of 2014. China and vietnam, product rejection both infactory and by clients averages higher. Despite rising trade tensions and volatility in emerging economies throughout 2018, vietnam s economy saw broadbased growth and low inflation. For more information on the financial perspectives, see how vietnam aims towards the emerging market status.
In contrast with most oecd countries and many emerging economies, around half of the population is under 30 years old, and the workingage population ratio. The economic growth is stronger thanks to solid growth in trade. Please refer to overseas business risk vietnam summary. Characterised by political, social and macroeconomic. In the mediumterm, vietnams economic outlook is positive, despite signs of cyclical moderation in growth. Recent economic developments hanoi, july, 2014 public disclosure authorized public disclosure authorized. In this publication, we hope to provide you with an insight into the key aspects of undertaking business and investing in vietnam and answer many of the questions foreign businesses and entrepreneurs have when making their first venture into the vietnamese market.
The oecd economic outlook is published on the responsibility of the. General features and composition of groups in the world economic outlook classification 157 table a. The economy of vietnam is a socialistoriented market economy, which is the 44thlargest in the world as measured by nominal gross domestic product gdp and 32ndlargest in the world as measured by purchasing power parity ppp. The higher inflation rate projected for 2014 would make the local currency depreciate. Vietnams food retail sector is still dominated by small traditional traders, but modern retail channels are expanding in response to growing consumer demand and competition in the modern retail food sector is growing. The asian development outlook analyzes economic and development issues in developing countries in asia. Thirty years after the launch of the economic reforms known as doi moi, vietnam is considered a development success storymarked by remarkable poverty reduction and economic growth.
In this bloomberg video, rishaad salamat asks don lam of vinacapital about the fundamentals and outlook for the vietnamese economy. Economic indicators for viet nam the spread of covid19 and the resulting abrupt global slowdown will slash growth to 4. Vietnam economic growth quickens on exports, beating. Classification by world economic outlook groups and their shares in aggregate gdp, exports of goods and services, and population, 20 159 table b. The report includes countryspecific threeyear forecasts for major macroeconomic indicators, including commodity and financial markets. The disruption caused by the novel coronavirus in the first half of 2020 will not do lasting harm to exportoriented industries. Vietnam economy, politics and gdp growth summary the. The update covers issues ranging from macroeconomic management and financialmarket dynamics to the complex challenges of poverty reduction and social development. Vietnam is not the only country in southeast asia that is showing such positive results today. Philippines malaysia, vietnam, pakistan, bangladesh, poland, egypt, peru, south.
The benchmark index of vietnam has risen about 20% in 2014, but it seems that there is still some room for growth. Vietnam will remain one of the fastestgrowing economies in the asiapacific region in the medium term, driven by its external sector. Nov 26, 2019 vietnams real gross domestic product gdp has been experiencing positive growth for the past five years since 2014, and is projected to continue to do so through 2024. In the mediumterm, vietnam s economic outlook is positive, despite signs of cyclical moderation in growth. Developing asia remained the main source of global economic growth in 2014. Despite rising trade tensions and volatility in emerging economies throughout 2018, vietnams economy saw broadbased growth and low inflation.
Government resources key economic reports 2019 investment climate statement vietnam vietnam country commercial guide 2017 human rights report section 7. Brunei darussalam, cambodia, indonesia, lao pdr, malaysia, myanmar, the philippines, singapore, thailand and viet nam. The economic context of vietnam economic and political. The financial turmoil in emes in early 2014 was less acute than in mid20. Economic indicators for vietnam including actual values, historical data charts, an economic calendar, timeseries statistics, business news, long term forecasts and shortterm predictions for vietnam economy. This publication was archived on 4 july 2016 this article is no longer current. Vietnam joined the wto in january 2007 and concluded several free trade agreements in 201516, 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. Some economic policy developments help to explain why the outlook for. Brunei darussalam, cambodia, indonesia, lao pdr, malaysia, myanmar, the philippines, singapore, thailand.
Financial and economic outlook in vietnam asean up. The middle class earning usd 714 a month or more in vietnam will double to 33 million people, about a third of the population, between 2014 and 2020, according to boston consulting group. The economic context of vietnam economic indicators for the latest forecasts on the economic impacts caused by the coronavirus pandemic, please consult the oecd economic outlook interim report coronavirus. Beyond the middleincome trap was prepared by the asia desk of the oecd development centre in paris, in cooperation with the asean secretariat in jakarta. The government will prioritise increasing foreign direct investment and. The political economy of development in china and vietnam.
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