Compare Vietnam (2007) - Vietnam (2008)

Compare Vietnam (2007) z Vietnam (2008)

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	Vietnam (2007)	Vietnam (2008)

Budget	revenues: $15.97 billion expenditures: $16.72 billion (2006 est.)	revenues: $18.28 billion expenditures: $19.79 billion (2007 est.)
Debt - external	$20.92 billion (2006 est.)	$24.41 billion (31 December 2007 est.)
Economic aid - recipient	$1.905 billion in credits and grants pledged by the 2006 Consultative Group meeting in Hanoi (2005)	$5.4 billion in credits and grants pledged by the 2007 Consultative Group meeting in Hanoi (2007)
Economy - overview	Vietnam is a densely-populated, developing country that in the last 30 years has had to recover from the ravages of war, the loss of financial support from the old Soviet Bloc, and the rigidities of a centrally-planned economy. Substantial progress was achieved from 1986 to 1997 in moving forward from an extremely low level of development and significantly reducing poverty. Growth averaged around 9% per year from 1993 to 1997. The 1997 Asian financial crisis highlighted the problems in the Vietnamese economy and temporarily allowed opponents of reform to slow progress toward a market-oriented economy. GDP growth averaged 6.8% per year from 1997 to 2004 even against the background of the Asian financial crisis and a global recession, and growth hit 8% in 2005 and 7.8% in 2006. Since 2001, however, Vietnamese authorities have reaffirmed their commitment to economic liberalization and international integration. They have moved to implement the structural reforms needed to modernize the economy and to produce more competitive, export-driven industries. Vietnam's membership in the ASEAN Free Trade Area (AFTA) and entry into force of the US-Vietnam Bilateral Trade Agreement in December 2001 have led to even more rapid changes in Vietnam's trade and economic regime. Vietnam's exports to the US doubled in 2002 and again in 2003. Vietnam joined the WTO in January 2007, following over a decade long negotiation process. This should provide an important boost to the economy and should help to ensure the continuation of liberalizing reforms. Among other benefits, accession allows Vietnam to take advantage of the phase-out of the Agreement on Textiles and Clothing, which eliminated quotas on textiles and clothing for WTO partners on 1 January 2005. Agriculture's share of economic output has continued to shrink, from about 25% in 2000 to 20% in 2006. Deep poverty, defined as a percent of the population living under $1 per day, has declined significantly and is now smaller than that of China, India, and the Philippines. Vietnam is working to create jobs to meet the challenge of a labor force that is growing by more than one million people every year. Vietnamese authorities have tightened monetary and fiscal policies to stem high inflation. Hanoi is targeting an economic growth rate of 7.5-8% during the next five years.	Vietnam is a densely-populated developing country that in the last 30 years has had to recover from the ravages of war, the loss of financial support from the old Soviet Bloc, and the rigidities of a centrally-planned economy. Economic stagnation marked the period after reunification from 1975 to 1985. In 1986, the Sixth Party Congress approved a broad economic reform package that introduced market reforms and set the groundwork for Vietnam's improved investment climate. Substantial progress was achieved from 1986 to 1997 in moving forward from an extremely low level of development and significantly reducing poverty. The 1997 Asian financial crisis highlighted the problems in the Vietnamese economy and temporarily allowed opponents of reform to slow progress toward a market-oriented economy. GDP growth averaged 6.8% per year from 1997 to 2004 even against the background of the Asian financial crisis and a global recession. Since 2001, Vietnamese authorities have reaffirmed their commitment to economic liberalization and international integration. They have moved to implement the structural reforms needed to modernize the economy and to produce more competitive, export-driven industries. The economy grew 8.5% in 2007. Vietnam's membership in the ASEAN Free Trade Area (AFTA) and entry into force of the US-Vietnam Bilateral Trade Agreement in December 2001 have led to even more rapid changes in Vietnam's trade and economic regime. Vietnam's exports to the US increased 900% from 2001 to 2007. Vietnam joined the WTO in January 2007, following over a decade long negotiation process. WTO membership has provided Vietnam an anchor to the global market and reinforced the domestic economic reform process. Among other benefits, accession allows Vietnam to take advantage of the phase-out of the Agreement on Textiles and Clothing, which eliminated quotas on textiles and clothing for WTO partners on 1 January 2005. Agriculture's share of economic output has continued to shrink, from about 25% in 2000 to less than 20% in 2007. Deep poverty, defined as a percent of the population living under $1 per day, has declined significantly and is now smaller than that of China, India, and the Philippines. Vietnam is working to create jobs to meet the challenge of a labor force that is growing by more than one-and-a-half million people every year. In an effort to stem high inflation which took off in 2007, early in 2008 Vietnamese authorities began to raise benchmark interest rates and reserve requirements. Hanoi is targeting an economic growth rate of 7.5-8% during the next four years.
Electricity - consumption	45.46 billion kWh (2005)	51.35 billion kWh (2007)
Electricity - exports	0 kWh (2005)	0 kWh (2007)
Electricity - imports	0 kWh (2005)	0 kWh (2007)
Electricity - production	51.33 billion kWh (2005)	59.01 billion kWh (2007)
Exchange rates	dong per US dollar - 15,983 (2006), 15,746 (2005), (2004), 15,510 (2003), 15,280 (2002)	dong per US dollar - 16,119 (2007), 15,983 (2006), 15,746 (2005), NA (2004), 15,510 (2003)
Exports	NA bbl/day	315,700 bbl/day (2007)
GDP - composition by sector	agriculture: 20% industry: 41.9% services: 38.2% (2006 est.)	agriculture: 19.4% industry: 42.3% services: 38.3% (2007 est.)
GDP - real growth rate	8.2% (2006 est.)	8.5% (2007 est.)
Imports	NA bbl/day	271,100 bbl/day (2007)
Industrial production growth rate	11.3% (2006 est.)	17.1% (2007 est.)
Inflation rate (consumer prices)	7.5% (2006 est.)	8.3% (2007 est.)
International organization participation	ACCT (observer), APEC, APT, ARF, AsDB, ASEAN, CP, EAS, FAO, G-77, IAEA, IBRD, ICAO, ICRM, IDA, IFAD, IFC, IFRCS, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM (observer), IPU, ISO, ITSO, ITU, MIGA, NAM, OIF, OPCW, UN, UNCTAD, UNESCO, UNIDO, UNWTO, UPU, WCL, WCO, WFTU, WHO, WIPO, WMO, WTO	ACCT (observer), ADB, APEC, APT, ARF, ASEAN, CP, EAS, FAO, G-77, IAEA, IBRD, ICAO, ICRM, IDA, IFAD, IFC, IFRCS, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, MIGA, NAM, OIF, OPCW, UN, UN Security Council (temporary), UNCTAD, UNESCO, UNIDO, UNWTO, UPU, WCL, WCO, WFTU, WHO, WIPO, WMO, WTO
Labor force	44.58 million (2006 est.)	45.73 million (2007 est.)
Labor force - by occupation	agriculture: 56.8% industry: 37% services: 6.2% (July 2005)	agriculture: 55.6% industry: 18.9% services: 25.5% (July 2005)
Pipelines	condensate/gas 432 km; gas 163 km; oil 50 km; refined products 206 km (2006)	condensate/gas 432 km; gas 510 km; oil 49 km; refined products 206 km (2007)
Population below poverty line	19.5% (2004 est.)	14.75% (2007 est.)
Telephone system	general assessment: Vietnam is putting considerable effort into modernization and expansion of its telecommunication system, but its performance continues to lag behind that of its more modern neighbors domestic: all provincial exchanges are digitalized and connected to Hanoi, Da Nang, and Ho Chi Minh City by fiber-optic cable or microwave radio relay networks; main lines have been substantially increased, and the use of mobile telephones is growing rapidly international: country code - 84; satellite earth stations - 2 Intersputnik (Indian Ocean region)	general assessment: Vietnam is putting considerable effort into modernization and expansion of its telecommunication system, but its performance continues to lag behind that of its more modern neighbors domestic: all provincial exchanges are digitalized and connected to Hanoi, Da Nang, and Ho Chi Minh City by fiber-optic cable or microwave radio relay networks; main lines have been substantially increased, and the use of mobile telephones is growing rapidly international: country code - 84; a landing point for the SEA-ME-WE-3, the C2C, and Thailand-Vietnam-Hong Kong submarine cable systems; the Asia-America Gateway submarine cable system, scheduled for completion by the end of 2008, will provide new access links to Asia and the US; satellite earth stations - 2 Intersputnik (Indian Ocean region)
Telephones - main lines in use	15.845 million (2005)	10.8 million (2007)
Telephones - mobile cellular	15.505 million (2006)	33.2 million (2007)
Unemployment rate	2% (2006 est.)	5.1% (2007 est.)

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