Vietnam’s GDP per capita tops $2,200
Vietnam’s per capita GDP reached an estimated VND48.6 million (USD2,215), up USD106 compared with 2015, according to the General Statistics Office (GSO).
Vietnam’s per capita GDP reached an estimated VND48.6 million (US$2,215), up US$106 compared with 2015.
Nguyen Bich Lam, Head of GSO, said that Vietnam’s GDP growth reached 6.21% in 2016, lower than the country’s year target of 6.7%. However, the rate was still considered a success for Vietnam given unfavourable global economic conditions, and natural and environmental disasters.
The main drag on Vietnam's GDP growth was the country’s agricultural sector. The country’s worst drought in three decades has crippled agriculture. As the world’s largest producer of robusta coffee and a major exporter of rice, the impact on agriculture has greatly affected overall GDP.
The central region faced mass fish deaths caused by the Formosa pollution disaster, which caused big losses for local fish farmers. Meanwhile, mining continued its losing stretch due to low global commodity prices.
The agriculture sector saw a growth rate of just 1.36%, the lowest since 2011. In contrast, services posted the highest growth with 8.28%.
As a result, in the country’s economic structure, the agro-forestry-fisheries sector accounted for just 16.32%, followed by industrial and construction with 32.72% and services with 40.92%.
The GSO reported that Vietnam’s GDP per capita in 2016 stood at USD2,215, up USD106 against last year.
Meanwhile, Vietnam’s CPI was estimated at 4.7%, lower than the target of 5% previously set by the National Assembly.