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Vietnam Snapshot - PESTLE, SWOT, Risk and Macroeconomic Analysis report is designed to provide in-depth information about Vietnam including it’s PESTLE (political, economic, social, technological, legal and environmental), SWOT (Strengths, Weaknesses, Opportunities and Threats) and country risk analysis backed by macroeconomic data.
Vietnam is one of the most beautiful countries located in the South East Asia. In the North, Vietnam shares the long borderline with China. In the East, Vietnam is bordered by the Gulf of Tonkin, in the East and South by the South China Sea, in the South West by the Gulf of Thailand, and in the West by Cambodia and Laos. Owning to stretching the length of the Indochinese Peninsula, Vietnam boasts a unique shape of an elongated S and a long coastline of 3,260km with a lot of wonderful sites.
Vietnam is expected to have a population of 100.104 million in the year 2023 and expected to reach 103.272 million by 2027, growing at a CAGR of 0.78%.
Vietnam’s real gross domestic product (GDP) was VND 28,75,856.19 billion in 2020 and while recovering from the COVID-19 impact it increased by 5.85% to be around VND 30,54,470.22 billion in 2021. It is further expected to increase by 6.27% and reach VND 43,98,623.95 billion by 2027.
Vietnam’s unemployment rate was 2.4% of total labor force in 2022. It is expected to remain constant till 2027.
Vietnam’s per capita GDP was USD 2,305.702 whereas purchasing power parity (PPP) based per capita GDP was USD 6,925.176for the year 2022.
In 2022, Vietnam government’s revenue was VND 11,57,181 billion whereas the expenditure was VND 14,40,073 billion. This resulted in Vietnam government’s net lending / borrowing negative at VND 2,82,892 billion in 2022 indicating that not enough financial resources were made available by the Vietnam government to boost economic growth.
The current account balance for Vietnam was positive at USD 8.783 billion for the year 2022 and is expected to decrease at a CAGR of 26.63% and reach positive USD 1.868 billion by 2027. This positive current account balance indicates that Vietnam will remain a net lender to rest of the world till 2027.
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