Introduction
Background
The conquest of Vietnam by France began in 1858 and was completed by 1884. It became part of French Indochina in 1887. France continued to rule until its 1954 defeat, when the country was divided into North and South halves. Communist North Vietnam eventually conquered the anti-communist South in 1975 but then stagnated economically until 1986 before introducing a more market-based economy.
Geography
Area
total: 331,210 sq km
land: 310,070 sq km
water: 21,140 sq km
Climate
tropical in south; monsoonal in north with hot, rainy season (May to September) and warm, dry season (October to March)
Natural resources
antimony, phosphates, coal, manganese, rare earth elements, bauxite, chromate, offshore oil and gas deposits, timber, hydropower, arable land
People and Society
Population
104,799,174 (2023 est.)
Ethnic groups
Kinh (Viet) 85.3%, Tay 1.9%, Thai 1.9%, Muong 1.5%, Khmer 1.4%, Mong 1.4%, Nung 1.1%, other 5.5% (2019 est.)
Languages
Vietnamese (official), English (increasingly favored as a second language), some French, Chinese, and Khmer, mountain area languages (Mon-Khmer and Malayo-Polynesian)
Religions
Catholic 6.1%, Buddhist 5.8%, Protestant 1%, other 0.8%, none 86.3% (2019 est.)
Population growth rate
0.93% (2023 est.)
Government
Government type
communist state
Capital
name: Hanoi (Ha Noi)
Executive branch
chief of state: President Vo Van THUONG (since 2 March 2023)
head of government: Prime Minister Pham Minh CHINH (since 26 July 2021)
Legislative branch
description: unicameral National Assembly or Quoc Hoi (500 seats - number following 2021 election - 499; members directly elected in multi-seat constituencies by absolute majority vote; members serve 5-year terms)
Economy
Economic overview
lower middle-income socialist East Asian economy; rapid economic growth since Đổi Mới reforms; strong investment and productivity growth; tourism and manufacturing hub; TPP signatory; declining poverty aside from ethnic minorities; systemic corruption
Real GDP (purchasing power parity)
$1.036 trillion (2021 est.)
$1.01 trillion (2020 est.)
$981.903 billion (2019 est.)
Real GDP per capita
$10,600 (2021 est.)
$10,500 (2020 est.)
$10,300 (2019 est.)
Agricultural products
rice, vegetables, sugar cane, cassava, maize, pork, fruit, bananas, coffee, coconuts
Industries
food processing, garments, shoes, machine-building; mining, coal, steel; cement, chemical fertilizer, glass, tires, oil, mobile phones
Remittances
4.96% of GDP (2020 est.)
5.08% of GDP (2019 est.)
5.16% of GDP (2018 est.)
Exports
$339.984 billion (2021 est.)
$290.229 billion (2020 est.)
$280.826 billion (2019 est.)
Exports - partners
US 28%, China 17%, South Korea 6%, Japan 6%, Hong Kong 4% (2021)
Exports - commodities
broadcasting equipment, telephones, integrated circuits, office machinery, footwear, furniture (2021)
Imports
$338.021 billion (2021 est.)
$269.808 billion (2020 est.)
$261.683 billion (2019 est.)
Imports - partners
China 39%, South Korea 17%, Japan 5%, Taiwan 4%, Thailand 4% (2021)
Imports - commodities
integrated circuits, telephones, clothing and apparel, broadcasting accessories, refined petroleum, iron sheeting (2021)
Exchange rates
dong (VND) per US dollar -
Exchange rates:
23,159.783 (2021 est.)
23,208.368 (2020 est.)
23,050.242 (2019 est.)
22,602.05 (2018 est.)
22,370.087 (2017 est.)
Page last updated: Wednesday, December 06, 2023
