Search results
Results from the WOW.Com Content Network
GDP per capita development in Vietnam. The economy of Vietnam is a developing mixed socialist-oriented market economy. [3] It is the 33rd-largest economy in the world by nominal gross domestic product (GDP) and the 26th-largest economy in the world by purchasing power parity (PPP). It is a lower-middle income country with a low cost of living.
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]
This page was last edited on 16 September 2018, at 11:28 (UTC).; Text is available under the Creative Commons Attribution-ShareAlike 4.0 License; additional terms may apply.
Vietnam's access to WTO should provide an important boost to Vietnam's economy and should help to ensure the continuation of liberalizing reforms and create options for trade expansion. However, WTO accession also brings serious challenges, requiring Vietnam's economic sectors to open the door to increased foreign competition. [18]
According to Vietnamese economist Vo Nhan Tri, Vietnam's post-reunification economy was in a "period of transition to socialism". [1] The process was described as consisting of three phases. [ 1 ] The first phase, from 1976 through 1980, incorporated the Second Five-Year Plan (1976–80)--the First Five-Year Plan (1960–65) applied to North ...
In 1986, the CPV initiated economic and political reforms similar to the Chinese economic reform, transforming the country to a socialist-oriented market economy. The reforms facilitated Vietnamese reintegration into the global economy and politics. Vietnam is a developing country with a lower-middle-income economy.
As of 2023, Vietnam has not needed to borrow from the International Monetary Fund since 1995. It had borrowed in 1993 and additional loans in 1994 before Vietnam started to pay some back every year until they paid it all back in 2012. [14] They had borrowed money from the IMF to alleviate poverty and its economy after being affected by war. [15]
Main page; Contents; Current events; Random article; About Wikipedia; Contact us; Pages for logged out editors learn more