Vietnam’s per capital GDP ranks 7th in ASEAN region

Vietnam’s per capital GDP ranks 7th in ASEAN region

Vietnam’s per capital GDP reached USD1,908 a year in 2013, ranking it seventh in the 10-member ASEAN region, according to the General Statistics Office (GSO).

Gap in per capital GDP between Vietnam and regional countries narrrows

The GSO said the report by the ASEAN Statistics agency (ASEAN Stats) about Vietnam’s economic growth in 2013 showed that by 2013, Vietnam’s per capital GDP was higher than Cambodia, Laos and Myanmar and the gap with regional countries has been considerably narrowed.

Vietnam’s GDP reached USD171bn in 2013, up 5.4 percent from a year earlier and was higher than the ASEAN’s average GDP growth rate of 5.2 percent in the same year, on the back of economic development and despite difficulties in the industrial sector.

Vietnam also ranked the sixth in terms of GDP growth rate in 2013 after Laos, Myanmar, the Philippines, Cambodia and Indonesia.

The service sector contributed most to Vietnam’s economic growth in 2013, accounting for up to 43.3 percent of its GDP. However, the rate is still 7.4 percent lower than the average rate in the 2005-2012 period.

The construction and industrial sectors continued to see a fall since 2010, contributing 38.3 percent to GDP in 2013, compared with 38.6 percent in 2012.

Even though the agro-forestry-fisheries sector was considered a “buffer” of the national economy in economic downturns in the past, the sector also reported a fall in recent years, contributing only 18.4 percent to GDP, the lowest rate so far.

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