Вьетнам

Vietnam Economic Profile

Vietnam is one of the most rapidly growing economies in Southeast Asia. With a population of approximately 98 million, the country's Gross Domestic Product (GDP) reached approximately $420 billion as of 2023, establishing an important economic position within the region as a lower-middle-income country.

From the perspective of major industries, manufacturing and service industries drive Vietnam's economy. In particular, electronic equipment and semiconductor manufacturing, textiles and apparel, and agriculture and food processing are important sectors. In the agricultural sector, Vietnam ranks among the world's leading producers of rice and coffee, and is known as an agricultural export nation. In recent years, with the influx of foreign companies, advanced electronics industry clusters have formed, and Vietnam is internationally recognized as a manufacturing hub for Apple and Samsung products.

As a recent economic trend, Vietnam maintains stable high economic growth rates, recording approximately 7% growth between 2022 and 2023. The country is gradually transitioning away from labor-intensive industries and implementing digitalization and conversion to high-tech industries. Additionally, external trade volumes are expanding, and trade relationships with the United States, China, and Japan are being strengthened.

Notable points include, first, Vietnam's role as a "manufacturing shift destination" accepting industrial relocation from China. This is attractive to many companies seeking to avoid geopolitical risks. Second, a large youth population and improving labor force quality serve as competitive advantages. Furthermore, Vietnam participates in TPP-related agreements and is advancing international economic integration. However, growing income inequality and addressing environmental issues remain as challenges for the future.