Vietnam economic outlook 2013 pdf

Vietnam s 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. World economic outlook international monetary fund. Researchers can use the economic outlook report to assess growth prospects for vietnam in the short, medium and long term. Jesus felipe is advisor, office of the chief economist, asian development bank. The economy of vietnam is a socialistoriented market economy, which is the 44thlargest in. Get exclusive, new features and security updates available only for excel in office 365. Vietnam s economic conditions continue to improve as its economy enters the third year of relative stability. Tourist arrivals fell notably in the quarter due to widespread travel bans related to the health crisis and retail trade also slumped amid social distancing and business. This highly contagious virus is leaving death and economic destruction in its wake.

Policymakers can compare economic policies across a range of countries to determine which bring the greatest economic benefits. Similarly, the asean countries as a group grew at 5. Hereafter, we refer to this model as the vnet for vietnam education and training model. The economy performed better than expected in the third quarter according to recent data, with both the industrial and services sectors picking up speed. Gdpe0648icr vietnam power market outlook to 2030 sample. In addition, the country is committed to continuing its global economic integration. For the latest forecasts on the economic impacts caused by the coronavirus pandemic, please consult the oecd economic outlook interim report coronavirus. Vietnam urban and industrial zone development investment corporation idico 990. Between 2002 and 2018, more than 45 million people were lifted out of. Vietnam is a member of asiapacific economic cooperation, association of southeast asian nations and the world trade organization. Vietnams economy is an emerging market standout bloomberg. In order to put the economy on a path of rapid and inclusive growth, the cabinet approved the economic recovery strategy ers in 2011, which aims to raise annual economic growth to 5% and create 30 000 jobs.

However remittances should remain stable and at high levels. 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 is part of the association of southeast asian nations asean, which encompasses regional nations with the goal of fostering trade and economic. Government spending and debt remained in check and bank capital rules were strengthened. The trade protectionism and heightened geopolitical tensions continue to cloud the outlook. Vietnam will remain one of the fastestgrowing economies in the asiapacific region in the medium term, driven by its external sector. Vietnam economic outlook report the economist intelligence unit. The whole report may be viewed in pdf format, or can be navigated sectionby section. Satra satramart vietnam 20 3 supermarket satra food 2011 182 grocery store 12. The market will continue to differentiate defective emerging economies from. Statistical documentation and service centre general statistics office of vietnam address.

Vietnam is currently experiencing one of its fastest economic expansions in years. The international monetary fund on tuesday said vietnam s economic growth was expected to slow to 6. Travel and tourism in vietnam to 2019 marketresearch. Tanzanias growth experience following economic reforms. Vietnams development over the past 30 years has been remarkable. Monthly economic monitor april 2020 highlights by krishen rangasamy we are now witnessing the first black swan event in a generation. Vietnam economic calendar this page includes a list of calendar events for vietnam. The disruption caused by the novel coronavirus in the first half of 2020 will not do lasting harm to exportoriented industries.

The devastation caused by the covid19 coronavirus pandemic has been more brutal and faster than most had expected. Opportunities and challenges towards the integration tendency. We use vnet to forecast changes in the vietnamese economy between 2010 and 2020. During the period 200011, thanks to high economic growth, viet nam has achieved. Imf executive board discussion of the outlook, april 20. Vietnam s steady economic growth at near 7 percent this year will make it. Vietnam economy gdp, inflation, cpi and interest rate.

The government will prioritise increasing foreign direct investment and. In 2018, the average inflation rate in vietnam amounted to 3. Vietnam economy, politics and gdp growth summary the. The political economy of development in china and vietnam. Oda will decline as the world bank reduces aid given vietnam s confirmed status as a middle income country. Vietnam continues to ride the wave of foreign investment and lowcost manufacturing. Financial and economic outlook in vietnam asean up.

The xaxis displays the number of years over the period when the country had 5% growth or higher to demonstrate the consistency of economic performance. Over that period, the economy has experienced rapid growth. Economy economic indicators for viet nam the spread of covid19 and the resulting abrupt global slowdown will slash growth to 4. The economies of china, indonesia, thailand, and vietnam witnessed a growth acceleration in 2017. Strong and sustainable growth by improving the quality and competitiveness of the economy. Thailand p 8 brazil p 21 malaysia p 9 chile p 22 the philippines p 10 argentina p 23 vietnam p 11 south africa p 24 myanmar p 12 saudi arabia p 25 cambodia p uae p 26. Brunei darussalam, cambodia, indonesia, lao pdr, malaysia, myanmar, the philippines, singapore, thailand. Vietnam joined the wto in january 2007 and concluded several free trade agreements in 201516, including the eu vietnam free trade agreement which the eu has not yet ratified, the korean free trade agreement, and the eurasian economic union free trade agreement. An update on vietnams recent economic development july. 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. The first quarters reading was driven by marked slowdowns in services and industry, which expanded a mere 3. Much of their growth acceleration was due to improved export performance. According to imf, gross domestic product gdp per capita at current prices purchasing power parity, or ppp has grown an average of 6. East asiasoutheast asia vietnam the world factbook.

Asean and viet nams growth journey the future of asean. The oecd economic outlook is the oecds twiceyearly analysis of the major economic trends and prospects for the next two years. Vietnam is a standout performer among asean economies, led by strong export growth and fdi inflows. The yaxis tracks the average annual economic growth since 1990. The vietnam economic policy conveys a clear message to the business community, international organizations. Economic outlook for southeast asia, china and india 2018 fostering growth through digitalisation the economic outlook for southeast asia, china and india is a biannual publication on regional economic growth, development and regional integration in emerging asia. Investors have been back in vietnam since 20 on improving macro economic conditions, as the government reforms launched in 2011 are starting to bear fruits. Despite rising trade tensions and volatility in emerging economies throughout 2018, vietnams economy saw broadbased growth and low inflation. Imf weo database, cited in pwc s the future of asean time to act, 2018 1. Per capita gdp growth for viet nam is expected at 5. After a severe drop below one percent in 2015, vietnams inflation seems to have stabilized.

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. The world economic outlook weo is a survey by the imf staff. 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 vietnam s 20162020 socio economic. Fueling demand in the shortterm and repairing supply in the mediumterm will be the leitmotiv of china and europe 3.

Economic outlook report 2018 05 global growth has eased but remains robust and is projected to reach 3. However, fading external demand and a weaker global outlook serve as the primary concerns for vietnam s exportreliant economy. These quickresponse articles analyse key events in terms of how we expect them to affect our political and economic forecast. Vietnam s travel and tourism sector performed well during the historic period 20102014, driven by growth in both the domestic and inbound tourism markets. Economists predict bright outlook for vietnam in 2018. Gdp is expected to expand by around 6 percent in 2016 underpinned by robust domestic demand and export oriented manufacturing. Nov 26, 2019 vietnam is part of the association of southeast asian nations asean, which encompasses regional nations with the goal of fostering trade and economic growth. First, it traces the major trends in the economic transformation of tanzania following reforms, and compares with the vietnam s experience.

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. The report includes countryspecific threeyear forecasts for major macroeconomic indicators, including commodity and financial markets. Malaysia p 9 chile p 22 the philippines p 10 argentina p 23 vietnam p 11 south africa p 24 myanmar p 12 saudi arabia p 25 cambodia p uae p 26 india p 14 australia p 27. Contents 1 china p 2 turkey p 15 south korea p 3 russia p 16. While visualising this calendar please take into account that some countries often publish their data in different dates than what was previously announced because of data gathering delays or other issues.

Economic outlook 2020 8 original asean member states asean 5 indonesia, malaysia, philippines, singapore, and thailand new asean member states bclmv brunei darussalam, cambodia, lao pdr, myanmar, and vietnam asean gdp growth in 2020 forecast myanmar 6. Classification by world economic outlook groups and their shares in aggregate gdp, exports of goods and services, and population, 2015 table b. Retail in vietnam navigating the digital retail landscape. Foreign investment in vietnam has helped drive its economy closer to asian tiger status. However, us trade tensions with china, the threat of inflation, and increasing automation could weigh on future growth. Doubledigit manufacturing growth boosted industry, while a surge in visitor arrivals, a healthy labor market and mild price pressures propelled the services sector. Vietnam started 2018 with high expectations, as the asian development outlook report forecasts vietnams economy to expand by 7. Economic outlook 20 with perspectives ondirectorates such as the statistics directorate and china and india a collaborative approach the saeo draws upon the oecd development centres close cooperation with other oecd the directorate for science, technology and industry, which are known as leading providers of reliable. If these pressures materialise, 20 could bring similar financial challenges as 2011. Last month, the asian development bank adb lifted its economic growth forecast for vietnam to 6. Vietnam s economy is an emerging market standout by. Evidence of the stellar economic performance of china and vietnam.

Growth plunged to the lowest rate in over a decade in the first quarter due to fallout from covid19 and lower oil and gas output. This is a distinct improvement on 2012, when growth stood at just over 6%. In this publication, we hope to provide you with an insight into the key aspects of undertaking business and investing in vietnam and answer many of the questions foreign businesses and entrepreneurs have when making their first venture into the vietnamese market. Adb economics working paper series agriculture and structural transformation in developing asia. Vietnam s growth accelerated in the fourth quarter, as stronger manufacturing output helped the economy remain one of the worlds best performers. Many of the buildings of the imperial city were destroyed during the vietnam war. Highlights download report pdf sections in this edition. Located on the perfume river in central vietnam, hue was the capital of vietnam from 1802 until 1945. However, outlook based on the us yield curve2 suggests an economic downturn. Introduction vietnam s expansion has charged ahead despite the recent financial and trade turmoil inflicting pain across southeast asias emerging markets. The nikkei purchasing managers index for manufacturing in vietnam touched. Oecd ilibrary economic outlook for southeast asia, china. The update covers issues ranging from macroeconomic management and financialmarket dynamics to the complex challenges of poverty reduction and social development. A walled citadel, 2 km by 2 km, as well as a moat, surrounded the city.

Taking stock an update on vietnams recent economic developments. 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. Economy profile of vietnam doing business 2020 indicators in order of appearance in the document starting a business procedures, time, cost and paidin minimum capital to start a limited liability company dealing with construction permits procedures, time and cost to complete all formalities to build a warehouse and the quality control and safety. Microsoft outlook 20 download outlook 20 microsoft. The uschina trade dispute has given vietnam growth opportunities but it still has to overcome key challenges. Mediumterm economic outlook forecast, 20 17 average gdp growth percentage change. Its robust trade ties are likely to support exportdriven growth in the medium term. Adbs asian development outlook ado 20 estimates that regional economic growth in the asia pacific region will pick up to 6. General features and composition of groups in the world economic outlook classification table a. Industrial activity plunges on covid19 contagion in april.

The economic outlook for southeast asia, china and india is a biannual publication on regional economic growth, development and regional integration in emerging asia. Secondly, an attempt is made to explore the lessons that the experience of vietnam provides to inform the growth strategies in tanzania. The economic context of vietnam economic and political. Despite rising trade tensions and volatility in emerging economies throughout 2018, vietnam s economy saw broadbased growth and low inflation. It focuses on the economic conditions of association of southeast asian nations asean member countries. Inflation has been kept under control at about 5%, down from 23% in 2011. Following a banner year in 2017 when real gdp growth registered at a sixyear high of 6. Vietnam joined the world trade organization in 2007, and it is also a member of various other international organizations, such as the asiapacific economic corporation, the association of south east asian nations asean and the international chamber of commerce. Vietnam s real gdp growth is projected to moderate to 6.