Economy economic indicators for viet nam the spread of covid19 and the resulting abrupt global slowdown will slash growth to 4. 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. Aug 10, 2016 vietnam s fast economic growth is quietly slipping, but no one cares. Its robust trade ties are likely to support exportdriven growth in the medium term. At the start of 2017, for example, investment strategists were paralysed by the unusual uncertainties in the economic and political outlook. The economy is set to remain one of aseans top performers in 2020 thanks to.
The world banks doing business report ranked viet nam 69th out of 190 countries. The economic outlook for southeast asia, china and india 2016 includes three main parts, each highlighting a particular dimension of recent economic developments in the region. The economy performed better than expected in the third quarter according to recent data, with both the industrial and services sectors picking up speed. Download historical data for 20 million indicators using your browser. While the upward trend was not seen in gdp growth rate, vietnam ended 2016 with generally good news and is anticipating a positive outlook.
Meanwhile, viet nams competitive industrial performance cip was 41th out of 150 countries in the unidos 2016 report. Economists predict bright outlook for vietnam in 2018. It focuses on the economic conditions of association of southeast asian nations asean member countries. Economic survey of indonesia indonesia is southeast asias largest economy, rich in all types of natural resources as well as cultural diversity. Vietnams fast economic growth is quietly slipping, but no. In the mediumterm, vietnams economic outlook is positive, despite signs of cyclical. Viet nams economic transformation during the last 30 years has been nothing short of remarkable.
In january, retail sales were up 10% yearonyear, boding well for domestic demand, while tourist arrivals and fdi surged. Dec 28, 2016 vietnam defies asia slowdown as economic growth holds above 6%. Banking introduction to pwc vietnam contacts 5th edition, july 2016 doing business in vietnam 2016. 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. While the upward trend was not seen in gdp growth rate, vietnam ended 2016 with generally good news and is anticipating a positive outlook for 2017. Lao pdr economic monitor 2016 was prepared by the lao country team under the guidance of mathew verghis practice manager, macroeconomics and fiscal management global. Vietnam economy, politics and gdp growth summary the. The current world bank group country partnership framework cpf for vietnam guides the bank groups engagements in the country from 2018 to 2022 endorsed on may 30, 2017, and reflecting and building on the priorities identified and expressed in the world bank groups 2016 systematic country diagnostic, the vietnam 2035 report, and the government of vietnams 20162020 socioeconomic. Vietnam country partnership framework for the period. Englishstatisticscalendarsattachments7152017t08k11xenpr. Learn more about the vietnam economy, including the population of vietnam, gdp, facts, trade, business, inflation and other data and analysis on its economy from the index of economic freedom.
International monetary fund imf world economic outlook weo database. The uschina trade war is creating a mixed impact on vietnams economy. Hanoi, july, 2017 amidst strengthening recovery in the global economy since late 2016, vietnam s gross domestic product gdp expanded by 5. An even economic footing was successfully maintained in 2016, as while gdp growth came in marginally below targeted levels, inflation also rose at a slower rate than predicted. A young and dynamic democracy, it is urbanising and modernising rapidly. 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. Strong and sustainable growth by improving the quality and competitiveness of the economy. Resolution no 142 2016 qh socialist republic of vietnam independence freedom happiness resolution on the 5year socio economic development plan of 2016 2020 national assembly of the socialist republic of vietnam pursuant to the constitution of the socialist republic of viet nam. Jan 06, 2018 vietnams economy has the potential to thrive this year with more foreign direct investment fdi and export revenue, but low productivity remains a concern, economists said. Externally, a further slowdown in the global economy and waning prospects of tpp could dim vietnams growth outlook through trade. However, growing trade tensions between the united states and china, if escalated further, could slow global trade and put the brakes on vietnam s economic growth.
Despite rising trade tensions and volatility in emerging economies throughout 2018, vietnam s economy saw broadbased growth and low inflation. The asian development outlook analyzes economic and development issues in developing countries in asia. Industrial production has grown slightly in emerging economies, but remained stagnant in finland and other advanced economies. The economic outlook for southeast asia, china and india is a biannual publication on regional economic growth, development and regional integration in emerging asia. Koreaninvested firms in vietnam in 2016 contributed almost a of the total value of vietnam s exports. Koreaninvested firms tend to be exportoriented and thus contribute significantly to vietnam s trade balance.
Vietnam investment growth slows slightly in q4 but remains rapid. Despite rising trade tensions and volatility in emerging economies throughout 2018, vietnam s economy saw broadbased. International monetary fund imf world economic outlook weo database, cited in pwcs. Vietnams economic growth over the past two decades has been steady and impressive, averaging 5. With the exception of some ethic minority areas, there is a single, shared national identity. However, despite these challenges there is much to be positive about in the economic outlook. Although religion plays an important role, for example, in the. The first part presents the regional economic monitor, depicting the mediumterm economic outlook and macroeconomic challenges in the region. The asian development bank forecast vietnams economic growth at.
Jan 18, 2016 vietnams economy is an emerging market standout by. Supplychain disruption caused by the coronavirus pandemic in the first half of 2020 will not do lasting harm to exportoriented industries. Mar 16, 2020 vietnam investment growth slows slightly in q4 but remains rapid. Downside risks dominate myanmars economic outlook, which includes global economic uncertainty, the rakhine crisis and domestic conflicts growth in the construction and service sectors is expected to remain robust in the medium term due to continued infrastructure investment growth to slow amid higher external. The outlook is subject to pronounced downside risks. Vietnam will remain one of the fastestgrowing economies in the asiapacific region over the medium term.
This year recorded a decrease in the countrys economic growth rate. In this bloomberg video, rishaad salamat asks don lam of vinacapital about the fundamentals and outlook for the vietnamese economy. Economic outlook for southeast asia, china and india 2016. Vietnams economy is strong, as a result of strong momentum of vietnams fundamental growth drivers domestic demand and exportoriented manufacturing. Vietnam s economy is an emerging market standout by. Vietnam economy gdp, inflation, cpi and interest rate. Oecd ilibrary economic outlook for southeast asia, china. Vietnams economy shows fundamental strength, with stable. He also focuses on topics of interest in the us economy. Us economic outlook november 2015 chinas economic growth will slow further in 2016 because of foreign trade will be a drag on us economic growth through 2018, due. In this bloomberg video, rishaad salamat asks don lam of vinacapital about the fundamentals and outlook. 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. Vietnam economy and stock market fy2018 outlook fiachra mac cana head of research and managing director ho chi minh city securities corporation vn. Vietnams development success story and the unfinished sdg.
World economic outlook imf, global economic prospects wb. In 2018, vietnam s gross domestic product gdp amounted to around 241. As of 2016, 99% of the population used electricity as their main source of. From a poor, warravaged, centrally planned economy, which was closed off from much of the outside world, vietnam has become a middleincome country with a dynamic market economy that is deeply integrated into the global economy. The government will also pursue economic liberalisation. Alongside this, the economy s incremental capital output ratio icor, which is the additional capital required to increase one unit of output, reduced from 6. The positive economic outlook is supported by burgeoning. All values, unless otherwise stated, are in us dollars. Endorsed on may 30, 2017, and reflecting and building on the priorities identified and expressed in the world bank groups 2016 systematic country diagnostic, the vietnam 2035 report, and the government of vietnam s 20162020 socioeconomic development plan sedp, the cpf has four priority areas. Organization for economic cooperation and development, interim economic out look, september 2016.
Toward prosperity, creativity, equity, and democracy. 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. Vietnams economy and its transition from a planned economy to one with many. 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. Vietnam has recorded significant and historic achievements. Imf calculations using imf world economic outlook and world. Vietnam will remain one of the fastestgrowing economies in the asiapacific region in the medium term, driven by its external sector. Slower momentum introduction the southeast asia economy has enjoyed a solid run in the last two years with gdp growth of 5. The views expressed in this publication are those of the imf staff and do not necessarily represent the views of the imfs executive directors or their national authorities. Vietnams economy is an emerging market standout bloomberg. Asian development outlook 2016 asias potential growth asian development outlook 2016 asias potential growth the annual asian development outlook analyzes economic performance in the past. Last month, the asian development bank adb lifted its economic growth forecast for vietnam to 6.
It will be one of the main beneficiaries of the ongoing uschina trade war as relocation out of china accelerates. Spending and saving patterns of vietnamese consumers, 4th quarter 2017. The economic context of vietnam economic and political. The outlook is bright and it is one of the standout. Available data so far in 2020 has been mixed, after strong expansions in manufacturing and services drove stellar growth in the final quarter of last year. Asean business outlook survey 2018 3 c m y cm my cy cmy k 210x297170503fa. Endnotes lester gunnion is an economist, who primarily covers singapore, vietnam, and russiaeconomies strongly dependent on trade. In 1991, the outlook section of the world development report was converted into a standalone report.
Brunei darussalam, cambodia, indonesia, lao pdr, malaysia, myanmar, the philippines, singapore, thailand and viet nam. Doubledigit manufacturing growth boosted industry, while a surge in visitor arrivals, a healthy labor market and mild price pressures propelled the services sector. Initial reform measures, such as the significant reduction of internal trade barriers and steps towards liberalizing foreign trade, remained largely ineffective due to galloping, tripledigit. We are pleased to release the economic outlook report 2019 to you. Domestically, delayed implementation of structural and fiscal reforms could intensify macroeconomic vulnerabilities and lower potential growth. Jul 16, 2019 five charts explain vietnams economic outlook.
Economic outlook 4 2016 3 global economic uncertainty continues in 2017 the world economy has grown at a similar rate in 2016 as in 2015. The 2016 edition of the economic outlook for southeast asia, china and india comprises three main parts, each highlighting a particular dimension of recent economic developments in the region. In addition, the country is committed to continuing its global economic integration. Despite rising trade tensions and volatility in emerging economies throughout 2018, vietnams economy saw broadbased growth and low inflation. Financial and economic outlook in vietnam asean up. Sep 12, 2018 fed tightening, rising debt levels and political uncertainty are casting a shadow on the outlook for strong global growth. Continuing the cycle of forecast optimism followed by disappointment, global growth has been marked down, by some 0.
In fact, i can cite some statistics that showcase our countrys dynamics. Vietnam s economic growth over the past two decades has been steady and impressive, averaging 5. Vietnam 2035 open knowledge repository world bank group. The quarterly report provides access to cb richard elliss thought leading analysis, enabling timely and informed business decisions. The world banks ease of doing business index ranks vietnam 90 th out of 189 surveyed economies. The first part presents the regional economic monitor, depicting the mediumterm economic outlook. Government spending and debt remained in check and bank capital rules were strengthened. A political economy of economic restructuring in vietnam jstor. Data from international monetary fund, world economic outlook 2017. On the back of improved economic fundamentals, vietnam s gold, oil and stock prices picked up and its real estate market remained buoyant in spite of instability in international economies. Vietnam defies asia slowdown as economic growth holds above 6. Asian development outlook 2016 asias potential growth asian development outlook 2016 asias potential growth the annual asian development outlook analyzes economic performance in the past year and offers forecasts for the next 2 years for the 45 economies in asia and the pacific that make up developing asia. The economy of vietnam is a socialistoriented market economy, which is the 44thlargest in.
Energized by past success but by no means content, vietnam now aspires, by the year 2035, to modernity, industrialization, and a higher quality of life aspirations that stand on three major pillars. The weo is prepared by the imf staff and has benefited from comments and suggestions by executive directors following their discussion of the report on march 28. Vietnam continues to ride the wave of foreign investment and lowcost manufacturing. Vietnam s real gdp growth is projected to moderate to 6. 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 economy shows fundamental strength, with stable and. Sdgs, and most of vietnams development and economic plans feature the sdgs. From 2015 2016, some korean investment was made in anticipation of vietnam. Mediumterm economic outlook forecast, 2017 average gdp growth percentage change.
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