In general, Vietnam's economic growth is relatively high compared to other countries in the region with an average annual growth rate of 6-7%. Up to now, Vietnam's economy continues to expand its growth. This is the 10th consecutive quarter that GDP has exceeded its potential. GDP growth in 2019 is 7.02%, exceeding the target set by the National Assembly.

Regarding the economic structure in 2019, the agriculture, forestry and fishery accounting for 13.96% of GDP, reached a low increase of 0.61%, the lowest increase in the period of 2011-2019, contributing 0.07 percentage points to the increase in the total added value of the whole economy; industry and construction accounting for 34.49%, maintaining a high growth rate of 8.86%, contributing 2.91 percentage points to the growth rate of the total added value of the whole economy; service sector accounts for 41.64%; Product tax minus product subsidies accounting for 9.91% (The corresponding structure of 2018 is: 14.68%; 34.23%; 41.12%; 9.97%).

From the perspective of GDP in 2019, final consumption increased by 7.23% compared to 2018; accumulated assets increased by 7.91%; exports of goods and services increased by 6.71%; imports of goods and services increased by 8.35%.
 

As of 2019, the whole country had 3,883 new projects granted the certificate of investment, increasing 27.5% of the projects compared to the same period in 2018. Total newly registered capital of US $ 16.75 billion, equaling 93.2% compared to the same period of 2018. There were 1,381 turns of projects registered to adjust investment capital, up 18.1% over the same period in 2018. Total adjusted registered capital was US $ 5.8 billion, equaling 76.4% compared to the same period of 2018. Also in 2019, the whole country had 9,842 times of capital contribution and share purchase by foreign investors with a total value of capital contribution of 15.47 billion USD, up 56.4% as compared to the same period in 2018 and accounting for 40.7% of the total registered capital.

In 2019, foreign investors invested in 19 fields, of which investment focused on manufacturing and processing industry with the total capital of 24.56 billion USD, accounting for 64.6% of total registered investment capital. Real estate business ranked second with total investment capital of 3.88 billion USD, accounting for 10.2% of total registered investment capital. Next is the field of wholesale and retail, professional activities of science and technology...

 

According to investment partners, there were 117 countries and territories having investment projects in Vietnam. Korea leads with a total investment of 7.92 billion USD (accounting for 20.8% of total investment capital into Vietnam); Hong Kong ranked second with total investment capital of 7.87 billion USD, accounting for 18% of total investment capital into Vietnam; Singapore ranked third with a total registered investment capital of 4.5 billion USD, accounting for 11.8% of total investment capital; Next is China, Japan... In particular, investment from China and Hong Kong tends to increase over the same period due to the impact of the US-China trade war. Specifically: investment from China increased nearly 1.65 times, from Hong Kong increased 2.4 times compared to the same period in 2018.

​Accumulated to December 20, 2019, the whole country has 30,827 valid projects with a total registered capital of 362,58 billion USD. The accumulated realized capital of foreign direct investment projects was estimated at 211.78 billion USD, equaling 58.4% of the total valid registered capital…

Total import and export turnover of goods in 2019 was estimated at 516.96 billion USD, of which goods export turnover reached 263.45 billion USD, up 8.1% over the previous year. The year of 2019 witnessed a strong development of the domestic economic sector in the field of exports with a growth rate of 17.7%, much higher than the growth rate of the foreign invested sector ( 4.2%). The trade balance of goods in 2019 was estimated at US $ 9.9 billion of trade surplus, the highest level in 4 consecutive years of trade surplus.

Export: In 2019, there were 32 items with export turnover of over 1 billion USD, accounting for 92.9% of total export turnover (6 items with export turnover of over 10 billion USD, accounting for 63.4%), of which phones and components with the largest export value reached 51.8 billion USD, accounting for 19.7% of total export turnover, up 5.3% over the previous year; electronics, computers and components reached 35.6 billion USD, up 20.4%; textiles and garments reached US $ 32.6 billion, up 6.9%; machinery, equipment and tools reached 18.3 billion USD, up 11.9%; footwear reached 18.3 billion USD, up 12.7%; wood and wooden products reached 10.5 billion USD, up 18.2%. In general, the export proportion of some key products still belongs to the foreign direct investment sector.​

 

Import: Generally in 2019, import turnover was estimated at US $ 253.51 billion, up 7% compared to 2018, of which the domestic economic sector reached US $ 108.01 billion, up 13.8%; foreign-invested sector reached 145.50 billion USD, up 2.5%.

In 2019, there were 37 imported items reaching over US $ 1 billion, accounting for 90.6% of total import turnover (4 items reached over US $ 10 billion, accounting for 45.8%), of which: Electronics , computers and components reached 51.6 billion USD (accounting for 20.3% of total import turnover), an increase of 19.5% over the previous year; machinery, equipment, tools and spare parts reached 36.6 billion USD, up 11.4%; phones and components reached 14.7 billion USD, down 7.9%; cloth reached 13.3 billion USD, up 4.4%; iron and steel reached 9.5 billion USD, down 4.2%; plastic reached 9 billion USD, down 0.8%; automobiles reached US $ 7.4 billion, up 37.3%.

Regarding the structure of imported goods in 2019, the means of production materials were estimated at US $ 231.2 billion, up 6.7% over the previous year and accounting for 91.2% of total import turnover (down 0,3 percentage points compared to 2018), of which the group of machinery, equipment, tools, means of transport and spare parts reached 111.7 billion USD, up 9.9% and accounting for 44.1% (up 1.2 percentage points); raw materials, fuels and materials gained US $ 119.5 billion, up 3.8% and accounted for 47.1% (down 1.5 percentage points). Consumer goods group was estimated at 22.3 billion USD, up 10.8% and accounting for 8.8% (up 0.3 percentage points).

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