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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]
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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 ...
Vietnam had an average growth in GDP of 7.1% per year from 2000 to 2004. The GDP growth was 8.4% in 2005, the second largest growth in Asia, trailing only China's. Government figures of GDP growth in 2006, was 8.17%. According to Vietnam's Minister of Planning and Investment, the government targets a GDP growth of around 8.5% for 2007.
The optimism and impatience of Vietnam's leaders were evident in the Second Five-Year Plan. [1] The plan set extraordinarily high goals for the average annual growth rates for industry (16 to 18 percent), agriculture (8 to 10 percent), and national income (13 to 14 percent). [1]
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]
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.
Rice is called ‘white gold’ in Vietnam and has a link to the Sanskrit name ‘Dhanya’ (meaning: "the sustainer of the human race"), the name given to Rice in India. In Vietnam, there is a folklore that is narrated on rice. According to the folk legend, in ancient times, rice was not produced but was summoned by fervent prayers by people.