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Vietnam



About Vietnam

Vietnam, the easternmost country in Southeast Asia, is the world's 14th-most-populous country, and the ninth-most-populous Asian country with an estimated 92.7 million inhabitants as of 2016. The economy of Vietnam is the 47th-largest economy in the world by nominal gross domestic product (GDP) and 35th-largest in the world by purchasing power parity (PPP). Vietnam’s gross domestic product (GDP) expanded by 6 percent during 2016 and is projected to accelerate to 6.3 percent in 2017. Vietnam exported $185B and imported $169B, resulting in a positive trade balance of $15.8B.

Manufacturing, information technology and high-tech industries form a large and fast-growing part of the national economy. Vietnam being a newcomer to the oil industry, is currently the third-largest oil producer in Southeast Asia. In 2010, Vietnam is ranked as the 8th largest crude petroleum producers in the Asia and Pacific region.  Vietnam has become a major exporter of agricultural products. It is also the world's largest producer of cashew nuts, with a one-third global share; the largest producer of black pepper with one-third of the world's market. Vietnam is the world's second largest exporter of coffee.

Vietnam’s economy is strong, as a result of Vietnam’s fundamental growth drivers; domestic demand and export-oriented manufacturing.