Vietnam
The Socialist Republic of Vietnam is a one of the
fastest growing economies in South East Asia
although still a relatively poor country with a
sizeable population and limited land resources.
Currently, much of the labor force (about 70
percent) is engaged in agricultural activities
though agriculture now accounts for only 25 percent
of Gross Domestic Product. Residents of urban areas
are more likely to benefit from Vietnam’s economic
growth and have increasingly more disposable income
and demand for imported goods and foods. Consumer
spending patterns may be tempered, however, by
Vietnam’s persistent high inflation rate. Although
the Communist Party remains firmly in power, the
economy is increasingly market-driven. Vietnam is a
flourishing market for U.S. agricultural products.
U.S. agricultural exports to Vietnam, which had been
increasing gradually since normalization of
relations in 1995, have now been growing rapidly
since Vietnam’s accession to the World Trade
Organization in January 2007.
U.S. agricultural exports to Vietnam rose to $623.3
million in 2007, an increase of 110 percent; and in
2008 our agricultural exports to Vietnam broke the
$1 billion mark, increasing 68 percent over the
previous year.
Vietnam has become a
significant market for U.S. agricultural products
and among the top markets for some commodities.
Population: 86.1 million
GDP per capita: $2,900 (2008 est.)
Agriculture: 19% of economy
Agricultural Production: rice, coffee, tea,
rubber, cashew nuts, fish and seafood
Major Vietnamese Agricultural Exports:
rice, coffee, cashew, black
pepper, rubber, fishery products
Major U.S. Agricultural Exports to Vietnam:
cotton, red meats, dairy products, poultry meats,
hides and skins
Economic, Political, and Demographic Information
Vietnam Agricultural Economy and Policy Report
(FAS)
Crop Explorer (FAS)
Vietnam and the International Monetary Fund
(IMF)
Country Profiles
and Mapping Information Systems (Food and Agricultural Organization)
Central Intelligence Agency World Fact
Book
U.S. Department of State - U.S. Agency for
International Development FY 2007-2012 Strategic
Plan - select East Asia & the Pacific
U.S. Department of State Background Notes Vietnam
