Global GDP Growth: Overview
Real GDP is computed using prices from the base year adjusted for inflation. A measure of economic growth, real GDP changes demonstrate whether the economic activity has increased or decreased. The US, China, Japan, Germany, and India are the top five economies in the world in terms of real GDP. With a value of USD12.7 trillion, China had the second-largest real GDP behind the US in 2021. Japan ranked third globally with a USD6 trillion real GDP during the same period. The next two largest economies are Germany and India, with real GDPs of USD3.8 trillion and USD2.9 trillion, respectively.
Vietnam Exports: Overview
Vietnam has been one of the world's fastest-growing emerging markets in the past decade, supported by strong FDI inflow into its manufacturing sector. According to the World Bank, Exports as a % of the GDP in Vietnam were recorded at 93.3% in 2021.
Electrical machinery and related equipment constitute the largest portion of Vietnam’s export basket, with its share of total exports increasing to 42.3% in 2021 from 39.5% in 2020, according to the UN- Comtrade database. This was followed by exports of footwear, gaiters, and related items, with a share of 6.2% in 2021. In 2020, Vietnam accounted for 4.0% of the total world export of electrical machinery and related equipment.
The US, China, and Japan were the top three trading partners of Vietnam. They accounted for 48.5% of total trade (exports and imports) in 2020.
Vietnam Exports as a % of GDP
In 2021, Vietnam's Exports as a % of GDP reached 92.7%, making an 11.2% increase from 2020 and a substantial 71.4% rise from 2010. FY2021 witnessed the highest ratio of exports to GDP in Vietnam, and FY2010 was the lowest in this period, which stood at a mere 54.1%.
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