Vietnam PESTLE Insights – A Macroeconomic Outlook Report

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Mining, manufacturing, and utilities contributed 35.0% to Vietnam’s gross value added (GVA) in 2022, followed by wholesale, retail, and hotels (13%), and financial intermediation, real estate, and business activities (12.6%). In nominal terms, the three sectors are forecasted to grow by 12.8%, 12.8%, and 12.4%, respectively, in 2023.

Hanoi and Ho Chi Minh are major metropolitan regions in Vietnam and about 17.8% of Vietnamese population lives. These regions generated 28.3% of the country’s GDP in 2022, according to the GlobalData cities database.

Scope

Vietnam approved a $43-65 billion infrastructure development plan (2021–30) encompassing road, rail, water, and air transport, with enactment of a new public-private partnership law to promote private investment in transportation and power sectors.

Key Highlights

The Ho Chi Minh index has been on a decreasing trend. As of May 23, 2023, the index stood at 1068.2, compared to 1,218.8 on May 23, 2022.

Reasons to Buy

Macroeconomic Outlook Report identifies the potentials of the country as an investment destination by analyzing the political, economic, social, technological, legal and environmental (PESTLE) structure.

PESTLE Insights provides 360 degree view of the economy which can be used as a strategic tool to understand the market dynamics, business potentials and direction of operations

Along with providing the country’s snapshot, the report captures the risk factors pertaining to the macroeconomic risks, political environment, legal environment, demographic and social structure effectiveness, technology & infrastructure and natural and geographic aspects that might impact business.

This report also highlights key clusters/cities which contribute significantly to the country GDP and population along with major companies’ presence in these areas.

BIM Group
SRC
Vietnam Airlines

Table of Contents

List of Exhibits

Did You Know?

Country Highlights

Key Economic Updates

Country Snapshot

Political Landscape

Economic Landscape

Social Landscape

Technological Landscape

Legal Landscape

Environmental Landscape

Outlook

Table

Exhibit 1: Vietnam’s performance in country risk analysis in comparison to Asia Pacific and the world average

Exhibit 2: Performance overview (Score: 1-100)

Exhibit 3: Broad categories and weights behind the index

Exhibit 4: Vietnam Ho Chi Minh stock index

Exhibit 5: Key sectors contribution to the economy (2017–24f)

Exhibit 6: FDI inflows, FDI outflows, FDI inward stock and FDI outward stock (2017–21)

Exhibit 7: Greenfield FDI projects and net cross border M&A deals in Vietnam (2017–21)

Exhibit 8: Key infrastructure indicators (2020)

Exhibit 9: Real GDP and household consumption growth rate (2018–25f)

Exhibit 10: Real GDP growth rate comparison (2022)

Exhibit 11: Volume of exports and imports growth (2018–25f)

Exhibit 12: Current account balance (2018–25f)

Exhibit 13: Top three commodity exports, % of total exports (2018–22)

Exhibit 14: Electrical machinery and equipment and parts thereof, % share of world’s total (2022)

Exhibit 15: Interest rates (June 2018 – June 2023)

Exhibit 16: Exchange rate and inflation (2018–25f)

Exhibit 17: General government deficit (2018–25f)

Exhibit 18: General government debt (2018–25f)

Exhibit 19: Unemployment rate (2018–25f)

Exhibit 20: Average annual wages (2018–25f)

Exhibit 21: Labor cost index (2018–25f)

Exhibit 22: Rural/urban share of total population (1995, 2005, 2015, 2025f)

Exhibit 23: Age-group share of total population (2005, 2015, 2025f)

Exhibit 24: Gender split (1995, 2005, 2015, 2025f)

Exhibit 25: Internet users as a percentage of total population, mobile penetration rate and broadband penetration rate (2022)

Exhibit 26: Number of patents granted per million population (2021)

Exhibit 27: High-technology exports, % of manufactured exports (2021 or latest)

Exhibit 28: Rule of law (rankings), 2022

Exhibit 29: Corruption perceptions index (rankings) (2022)

Exhibit 30: Renewable energy capacity (2017–21)

Exhibit 31: CO2 emissions (2017–21)

Figures

List of Figures

Exhibit 1: Vietnam’s performance in country risk analysis in comparison to Asia Pacific and the world average

Exhibit 2: Performance overview (Score: 1-100)

Exhibit 3: Broad categories and weights behind the index

Exhibit 4: Vietnam Ho Chi Minh stock index

Exhibit 5: Key sectors contribution to the economy

Exhibit 6: FDI licensed registered capital (2016-21) and FDI by industry (2020)

Exhibit 7: Inward FDI stock by country of origin and recipient region (2020)

Exhibit 8: Key infrastructure indicators

Exhibit 9: Real GDP and household consumption growth rate, 2017-24f

Exhibit 10: Real GDP growth rate comparison (2021)

Exhibit 11: Exports and imports, percentage change (2017-24f)

Exhibit 12: Current account balance, 2017-24f

Exhibit 13: Top three commodity exports, % of total exports, 2017-20

Exhibit 14: Electrical machinery and equipment and parts thereof, % share in world’s total (2019)

Exhibit 15: Interest rates (July 2017-April 2022)

Exhibit 16: Exchange rate and inflation, 2017-24f

Exhibit 17: Public finance, 2017-24f

Exhibit 18: General government debt, 2017-24f

Exhibit 19: Unemployment rate, 2017-24f

Exhibit 20: Average annual wages, 2017-24f

Exhibit 21: Labour cost index, 2017-24f

Exhibit 22: Rural/urban share in total population – 1995, 2005, 2015, 2025

Exhibit 23: Age-group share of total population – 1995, 2005,2015, 2025

Exhibit 24: Gender split – 1995, 2005, 2015, 2025

Exhibit 25: Internet users % of total population, mobile penetration rate and broadband penetration rate, 2021

Exhibit 26: Number of patents granted per million population, 2020

Exhibit 27: High-technology exports (% of manufactured exports), 2020

Exhibit 28: Doing business in Vietnam 2020

Exhibit 29: Corruption perception index (Rankings) 2021

Exhibit 30: CO2 emissions, 2016-20

Frequently asked questions

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