Vietnam among countries with high economic growth in 10 years

Vietnam, together with China and some other Asian countries, is among the 20 countries with the fastest economic growth over the last 10 years, according to Yahoo Finance.

A factory in the Du Long Industrial Park in Thuan Bac district, Ninh Thuan province (Photo: VNA)

In its recent article, the market news website sourced data from the International Monetary Fund (IMF), considering the growth in real GDP for all countries over the last 10 years to average the real GDP growth rates.

It said that with an average real GDP growth rate of 6.1% during 2012 - 2022, Vietnam ranks among those with high economic growth. The agricultural sector highly supports the economy by contributing to the GDP as well as employment.

Vietnam’s agro-forestry-fishery exports reached US$53.22 billion for the first time in 2022, up 9.3% from the previous year. As a result, its agricultural sector posted a trade surplus of US$8.5 billion, accounting for over 75% of the economy’s total trade surplus.

The rice warehouse of the Duong Vu Co. Ltd in Binh Thanh commune of Thu Thua district, Long An province (Photo: VNA)

The article also cited Vietnam’s statistics as showing that the US remains the biggest market of Vietnamese agro-forestry-fishery products, with an import turnover of US$13.3 billion, equivalent to 25% of the total exports of those products. It is followed by China with more than US$10 billion (18.9%), Japan US$4.2 billion (7.9%), and the Republic of Korea US$2.5 billion (4.7%).

In terms of continents, Asia made up 44.7% of the exports, the Americas 27.4%, Europe 11.3%, Oceania 1.7%, and Africa 1.7%.

The five countries with the highest economic growth rates in 10 years is Guyana (South America) nearly 15%, Ireland (Europe) over 9%, Ethiopia (Africa) 8.43%, Tajikistan (Central Asia) over 7%, and Côte d’Ivoire (West Africa) over 6.8%, according to the writing.

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