With an estimated 90.3 million inhabitants Vietnam is the world’s 13th-most-populous country and was ranked as the 39th largest economy in the world in 2013.
Since 2000, Vietnam’s economic growth rate has been among the highest in the world. The global recession hurt Vietnam’s export-oriented economy, with GDP in 2013 growing at 5%, the slowest rate of growth since 1999. In 2013, however, exports increased by more than 12%, year-on-year. The growth potential of the economy has led to Vietnam’s inclusion in the Next Eleven (N-11) of Goldman Sachs.
Agriculture: The main categories in % of total exports are Fish & Meat Products (4.8%), cereals (4.3%), Coffee & Spices (3.3%), Rubber Products (2.5%), Fruits & Nuts (1.6%)
Industry: The main categories are in % of total exports are Textile, Apparel and Garment (14.6%), Electric & Electronic Equipment (11.5%), Footwear (10.8%), Mineral Fuels & Oil (9.8%), furniture (5.6%), Machinery (5.5%), Plastic Products (1.6%).
In 2012 Vietnam’s main export market included US 17.8%, Japan 11.8%, China 11.2%, South Korea 5%, Malaysia 4.1% (2012)
Vietnam shows the same macro-economic characteristics driving China’s current success: Stable political situation, massive investments in country development, large, young and educated workforce and an ever improving business environment.
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