Economy of Vietnam

Economy of Vietnam
Rank	46
Currency	Vietnamese đồng
Fiscal year	Calendar year
Trade organisations	AFTA, WTO
Statistics
GDP	$273.967 billion (PPP, 2010 est.)[1]
GDP growth	6.7% (2010 est.)
GDP per capita	$2,942 (PPP, 2008 est.)
GDP by sector	Agriculture: 19.0%, industry: 42.7%, services: 38.4% (2008 est.)
Inflation (CPI)	11.75% (2010)[2]
Population below poverty line	13% (2005 est.)
Gini index	37 (2004)
Labour force	48.41 million (2008 est.)
Labour force by occupation	Agriculture: 55.6%, industry: 18.9%, services: 25.5% (July 2005)
Unemployment	2.88% (2010)[3]
Main industries	Food processing, garments, shoes, machine building, mining, cement, chemical fertilizer, glass, tires, oil, coal, steel, paper
Ease of Doing Business Rank	78th[4]
External
Exports	$63.73 billion (2008 est.)
Export goods	Crude oil, marine products, rice, coffee, rubber, tea, garments, shoes , pepper
Main export partners	US 20.8%, Japan 12.5%, Australia 7.3%, China 6.9%, Singapore 4.5% (2008)
Imports	$79.37 billion (2008 est.)
Import goods	Machinery and equipment, petroleum products, fertilizer, steel products, raw cotton, grain, cement, motorcycles
Main import partners	China 19.9%, Singapore 12.1%, Taiwan 11%, Japan 9.9%, South Korea 8.5%, Thailand 6% (2008)
Gross external debt	$23.72 billion (2008 est.)
Public finances
Public debt	44.5% of GDP (2008 est.)
Revenues	$22.39 billion (2008 est.)
Expenses	$24.19 billion (2008 est.)
Economic aid	$2.8 billion pledged (2000)
Credit rating	Standard & Poor's:[5] BB- (Domestic) BB- (Foreign) BB (T&C Assessment) Outlook: Negative[6] Moody's:[6] B1 Outlook: Negative Fitch:[6] B+ Outlook: Stable

Economy of Vietnam

The economy of Vietnam is a developing planned-market economy. Since the mid-1980s, through the "Đổi Mới" reform period, Vietnam has made a shift from a highly-centralized planned economy to a socialist-oriented market economy which use both directive and indicative planning (see Five-Year Plans of Vietnam). Over that period, the economy has experienced rapid growth. Nowadays, Vietnam is in the period of integrating into the world's economy, as a part of globalization. Almost all Vietnamese enterprises are SMEs with some nationwide trademarks such as VNPT, Vinamilk, FPT, Trung Nguyên, Kinh Do and others. Vietnam has been rising as a leading agricultural exporter and an attractive foreign investment destination in Southeast Asia.
In 2010, the nominal GDP reached $104.6 billion,^[7] with nominal GDP per capita of $1218. According to a forecast in December 2005 by Goldman-Sachs, Vietnamese economy will become the 17th largest economy in the world with nominal GDP of $ 436 billion and nominal GDP per capita of 4,357 USD by 2025.^[8] According to a forecast by the PricewaterhouseCoopers in 2008, Vietnam may be the fastest growing of emerging economies by 2025, with a potential growth rate of almost 10% per annum in real dollar terms that could push it up to around 70% of the size of the UK economy by 2050.^[9]
Vietnam has been listed in the Next Eleven countries.