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Development of agricultural output of Vietnam in 2015 US$ since 1961 Agriculture in Vietnam with farmers. Agriculture's share of GDP has declined in recent years, falling from 42% in 1989, to 26% in 1999. [1] In 2023, agriculture and forestry accounted for about 12% of Vietnam's gross domestic product (GDP). [2]
Vietnam also lags behind China in terms of property rights, the efficient regulation of markets, and labor and financial market reforms. State-owned banks that are poorly managed and suffer from non-performing loans still dominate the financial sector. [3] Vietnam had an average growth in GDP of 7.1% per year from 2000 to 2004.
Anhao Paper Factory, 1961. South Vietnam had a small industrial sector and fell far behind other countries in the region in this respect. [1] Output increased 2.5 to 3 times over the 20 years of the country's existence, but the share in total GDP remained at only around 10%, even dropping to 6% in some years, while the economy was dominated by strong agricultural and service sectors. [1]
Until the French colonization in the mid-19th century, Vietnam's economy had been mostly agrarian, subsistence-based and village-oriented. French colonizers, however, deliberately developed the regions differently as the French needed raw materials and a market for French manufactured goods, designating the South for agricultural production as it was better suited for agriculture, and the ...
The Ministry of Agriculture and Rural Development has been developed since 1987 by the combination of different government ministries: Ministry of Agriculture, Ministry of Food, combined to the Ministry of Agriculture and Food Industry in 1987; the subsequent addition of the Ministry of Forestry and the Ministry of Irrigation to form today's Ministry; as well as the addition of the Ministry of ...
The economy of the nineteenth-century period of the Nguyễn dynasty was primarily agricultural. Ninety-five percent of the national economy depended on agriculture. [1] Fragile Mining and handicraft were the only industry sectors in the country before the 1870s. International trade and business were heavily restricted by the Confucian-minded ...
Limiting state investment in agriculture, however, did not appear to affect total food production, which increased 19.5 percent from 1980 to 1984. [1] The plan also stressed the development of small-scale industry to meet Vietnam's material needs, create goods for export, and lay the foundation for the development of heavy industry. [1]
Vietnam's ethnic mosaic results from the peopling process in which various peoples came and settled the territory, leading to the modern state of Vietnam by many stages, often separated by thousands of years over a duration of tens of thousands of years. Vietnam's entire history, thus, is an embroidery of polyethnicity. [11]