Professional Documents
Culture Documents
December 2007
IMF Country Report No. 07/386
Page
2
26.
27.
28.
29.
30.
31.
3
Vietnam: Basic Data
Nominal GDP (2006): US$60.9 billion
Population (2006): 84.15 million
2002
2003
2004
2005
2006
7.1
7.3
7.8
8.4
8.2
-1.9
31.3
23.9
7.4
33.2
21.5
11.7
-4.9
30.6
23.3
7.3
35.4
20.8
14.7
-3.4
32.0
23.6
8.4
35.5
22.9
12.6
-0.9
34.6
28.0
6.7
35.6
22.3
13.3
-0.3
35.0
27.3
7.7
35.3
23.0
12.3
4.0
4.0
3.2
2.9
7.7
9.7
8.3
8.8
7.5
6.6
GDP deflator
4.0
6.7
8.2
8.2
7.3
-1.4
22.7
6.8
24.2
-1.2
24.9
7.0
26.1
0.9
26.7
7.9
25.8
-1.2
25.9
8.7
27.0
-0.3
27.1
9.7
27.5
3.3
2.4
0.9
1.5
0.0
0.9
5.2
3.2
1.5
1.7
0.0
2.0
3.7
2.4
1.4
1.0
0.0
1.3
4.7
2.7
0.8
0.5
1.4
2.0
3.5
2.1
1.4
0.7
0.0
1.3
-4.7
-11.5
-6.4
-13.5
-2.8
-10.7
-5.9
-14.6
-3.8
-13.5
17.6
22.2
12.4
24.9
28.4
27.4
29.5
41.6
16.1
29.7
31.7
23.7
33.6
25.4
32.2
7.0
9.9
2.4
5.2
6.3
10.0
3.6
7.3
6.7
10.7
-3.0
0.6
7.8
12.0
-0.6
3.2
7.9
11.8
1.1
4.7
-676
-1.9
11.2
22.1
-1,935
-4.9
20.6
28.0
-1,565
-3.4
31.4
26.6
-497
-0.9
22.5
21.2
-164
-0.3
22.7
22.1
3,692
7.2
5,619
8.7
6,314
8.4
8,557
9.4
11,483
10.4
35.0
8.6
38.2
33.7
7.8
41.0
33.5
6.0
42.4
32.2
5.6
43.8
30.2
5.3
43.3
-1.8
-5.6
-7.8
-9.0
-1.3
1.1
4.3
13.0
3.8
-2.8
535.8
440
613.4
492
715.3
553
839.2
636
973.8
723
General government
Official budget balance
Revenue and grants
of which: oil revenue
Expenditure
Off-budget expenditure and net lending
Net lending
ODA
VDB
Sovereign bond-financed lending to SOEs
Off-budget investment expenditure
Overall fiscal balance including off-budget expenditure
Non-oil overall fiscal deficit
Money and credit (annual percentage change, end of period)
Broad money
Credit to the economy
Reserve money
Interest rates (in percent, end of period)
Nominal three-month deposit rate (households)
Nominal short-term lending rate (less than one year)
Real three-month deposits rate (households)
Real short-term lending rate (less than one year)
Current account balance (including official transfers)
(in millions of U.S. dollars)
(in percent of GDP)
Exports f.o.b (annual percentage change, U.S. dollar terms)
Imports f.o.b. (annual percentage change, U.S. dollar terms)
Foreign exchange reserves (in millions of U.S. dollars, end of period)
Gross official reserves, including gold
(in weeks of next year's imports of GNFS)
Memorandum items:
GDP (in trillions of dong at current market prices)
Per capita GDP (in U.S. dollars)
Sources: Data provided by the authorities; and Fund staff estimates.
1/ It includes private debt.
2/ A positive number indicates an appreciation.
Table 1. Vietnam: Gross Domestic Product by Expenditure Categories at Current Prices, 200206
2002
2003
2004
2005
2006
Est.
382,137
348,747
33,390
445,221
406,451
38,770
511,221
465,506
45,715
584,793
533,141
51,652
668,540
611,206
57,334
Investment
Gross capital formation
Change in stocks
177,983
166,828
11,155
217,434
204,608
12,826
253,686
237,868
15,818
298,543
275,841
22,702
347,900
319,020
28,880
Domestic demand
560,120
662,655
764,907
883,336
1,016,440
Net exports
Exports
Imports
-27,684
304,262
331,946
-51,288
363,735
415,023
-54,000
470,216
524,216
-35,088
582,069
617,157
-32,471
715,369
747,840
3,326
2,076
4,400
-9,037
-10,179
535,762
613,443
715,307
839,211
973,790
Statistical discrepancy 1/
GDP
71.3
65.1
6.2
72.6
66.3
6.3
71.5
65.1
6.4
69.7
63.5
6.2
68.7
62.8
5.9
Investment
Gross capital formation
Change in stocks
33.2
31.1
2.1
35.4
33.4
2.1
35.5
33.3
2.2
35.6
32.9
2.7
35.7
32.8
3.0
104.5
108.0
106.9
105.3
104.4
-5.2
56.8
62.0
-8.4
59.3
67.7
-7.5
65.7
73.3
-4.2
69.4
73.5
-3.3
73.5
76.8
0.6
0.3
0.6
-1.1
-1.0
Domestic demand
Net exports
Exports
Imports
Statistical discrepancy 1/
11.5
11.7
9.6
16.5
16.5
16.1
14.8
14.5
17.9
14.4
14.5
13.0
14.3
14.6
11.0
Investment
Gross capital formation
18.6
18.9
22.2
22.6
16.7
16.3
17.7
16.0
16.5
15.7
Domestic demand
13.7
18.3
15.4
15.5
15.1
15.8
21.2
19.5
25.0
29.3
26.3
23.8
17.7
22.9
21.2
11.3
14.5
16.6
17.3
16.0
Exports
Imports
GDP
123.9
67.2
48.7
2.6
-30.7
6.8
100.0
132.0
74.3
48.6
2.2
-30.4
-1.6
100.0
100.4
58.0
32.7
2.9
-2.7
2.3
100.0
95.6
54.6
30.6
5.6
15.3
-10.8
100.0
98.9
58.0
32.1
4.6
1.9
-0.8
100.0
5
Table 2. Vietnam: Gross Domestic Product by Sector and Ownership at Current Prices, 200206 1/
2002
2003
2004
2005
2006
Est.
535,762
205,652
191,836
330,110
613,443
239,736
223,060
373,707
715,307
279,704
260,643
435,603
839,211
322,241
299,203
516,970
973,790
363,449
336,712
610,341
Agriculture
State
Nonstate
123,383
4,770
118,613
138,285
5,040
127,153
155,993
...
...
175,984
...
...
198,226
...
...
206,197
92,149
114,048
242,126
108,043
133,890
287,616
...
...
344,224
...
...
404,753
...
...
Services
State
(excluding state management) 2/
Nonstate
206,182
108,732
94,916
97,450
233,032
123,582
106,907
107,878
271,698
...
...
...
319,003
...
...
...
370,771
...
...
...
75,617
17,154
21,095
9,763
3,009
24,452
13,816
18,071
7,057
16,148
83,297
18,472
24,725
10,858
3,694
27,287
16,676
21,403
8,865
17,755
96,995
22,529
30,402
12,737
4,315
31,304
19,061
23,335
10,851
20,169
113,768
29,329
36,629
15,072
5,247
33,635
23,038
26,948
12,412
22,925
132,794
35,861
43,825
17,607
6,059
36,814
26,737
30,718
14,093
26,263
38.4
35.8
61.6
39.1
36.4
60.9
39.1
36.4
60.9
38.4
35.7
61.6
37.3
34.6
62.7
Agriculture
State
Nonstate
23.0
0.9
22.1
22.5
0.8
20.7
21.8
...
...
21.0
...
...
20.4
...
...
38.5
17.2
21.3
39.5
17.6
21.8
40.2
...
...
41.0
...
...
41.6
...
...
Services
State
(excluding state management) 2/
Nonstate
Wholesale and retail trade
Hotels and restaurants
Transport, storage and communication
Financial intermediation
Scientific activities and technology
Real estate services
Public administration., defense, and compulsory social security
Education and training
Health and social work
Other services
38.5
20.3
17.7
18.2
14.1
3.2
3.9
1.8
0.6
4.6
2.6
3.4
1.3
3.0
38.0
20.1
17.4
17.6
13.6
3.0
4.0
1.8
0.6
4.4
2.7
3.5
1.4
2.9
38.0
...
...
...
13.6
3.1
4.3
1.8
0.6
4.4
2.7
3.3
1.5
2.8
38.0
...
...
...
13.6
3.5
4.4
1.8
0.6
4.0
2.7
3.2
1.5
2.7
38.1
...
...
...
13.6
3.7
4.5
1.8
0.6
3.8
2.7
3.2
1.4
2.7
6
Table 3. Vietnam: Gross Domestic Product by Sector at Constant Prices, 200206
2002
2003
2004
2005
2006
Est.
70,827
59,761
2,589
8,477
73,917
62,107
2,610
9,200
76887
64,072
2,635
10,181
79505
65892
2,665
10948
Industry
Mining and quarrying
Manufacturing
Electricity, gas, and water supply
Construction
117,125
19,396
63,983
7,992
25,755
129,399
20,611
71,363
8,944
28,481
142,621
22,437
79,116
10,015
31,053
157,867
22,854
89,338
11,247
34,428
174239
23037
100396
12574
38232
Services
Wholesale and retail trade
Hotels and restaurants
Transport, storage, and communications
Financial intermediation
Science and technology
Real estate services
State management 1/
Education and training
Health and social work
Other services
127,770
51,245
10,125
12,252
6,424
1,909
13,106
8,768
10,475
4,464
9,002
136,016
54,747
10,646
12,925
6,935
2,044
13,796
9,228
11,260
4,853
9,582
145,897
59,027
11,511
13,975
7,495
2,196
14,396
9,773
12,125
5,234
10,165
158,276
63,950
13,472
15,318
8,197
2,368
14,816
10,477
13,127
5,640
10,911
171391
69418
15145
16870
8867
2543
15252
11270
14231
6082
11713
313,247
336,242
362,435
393,031
425,135
3.6
3.2
0.8
7.7
4.4
3.9
0.8
8.5
4.0
3.2
0.9
10.7
3.4
2.8
1.1
7.5
9.5
1.1
11.6
11.4
10.6
10.5
6.3
11.5
11.9
10.6
10.2
8.9
10.9
12.0
9.0
10.7
1.9
12.9
12.3
10.9
10.4
0.8
12.4
11.8
11.0
Services
Wholesale and retail trade
Hotels and restaurants
Transport, storage, and communications
Financial intermediation
Real estate services
State management 1/
Education and training
Health and social work
Other services
6.5
7.3
7.1
7.1
7.0
3.8
3.9
8.1
7.5
4.8
6.5
6.8
5.1
5.5
8.0
5.3
5.2
7.5
8.7
6.4
7.3
7.8
8.1
8.1
8.1
4.4
5.9
7.7
7.9
6.1
8.5
8.3
17.0
9.6
9.4
2.9
7.2
8.3
7.8
7.3
8.3
8.6
12.4
10.1
8.2
2.9
7.6
8.4
7.8
7.4
7.1
7.3
7.8
8.4
8.2
5.9
5.5
6.2
7.5
8.2
6.8
18.6
10.1
8.1
7.7
20.1
4.9
8.5
8.2
5.8
8.4
8.9
9.1
6.0
8.0
Industry
Mining and quarrying
Manufacturing
Electricity, gas, and water supply
Construction
2.6
2.9
3.8
1.9
2.2
6.3
16.9
2.0
9.1
6.3
7.8
16.2
4.6
0.8
10.2
8.1
20.4
5.4
2.7
7.8
6.5
11.5
6.4
3.2
9.0
Services
Wholesale and retail trade
Hotels and restaurants
Transport, storage, and communications
Financial intermediation
Real estate services
State management 1/
Education and training
Health and social work
Other services
4.1
4.0
4.0
1.4
4.2
9.2
4.0
2.9
2.3
3.8
6.2
3.1
2.4
11.1
3.0
6.0
14.7
10.2
15.6
3.3
8.7
8.0
12.8
13.7
8.5
9.9
7.9
1.2
13.5
7.1
8.2
8.3
11.2
9.9
8.2
4.4
12.7
6.7
6.2
5.9
7.3
7.5
8.8
8.6
8.0
6.3
7.9
5.1
5.3
6.7
4.0
6.7
8.2
8.2
7.3
7
Table 4. Vietnam: Consumer Price Inflation, 200207 1/
(Index, 2001=100, unless otherwise indicated)
Overall index
Food
Inflation 2/
Weight (in percent)
Nonfood
Drinks &
Tobacco
Clothes,
Footwear
Household
Goods
Housing,
Construction
Transport,
Post,
Telecom.
100.0
13.1
29.6
4.5
7.6
9.2
8.2
10.1
2002 January
February
March
April
May
June
July
August
September
October
November
December
Average
1.6
3.4
3.3
3.9
4.4
4.5
4.5
4.6
4.3
4.7
4.8
4.0
4.0
102.1
104.4
103.6
103.6
103.9
104.0
103.9
104.0
104.2
104.5
104.8
105.1
104.0
112.8
115.9
114.6
112.5
112.0
109.2
107.6
107.5
108.2
108.4
109.6
111.3
110.8
101.3
106.0
105.2
106.1
107.5
109.0
109.1
109.1
109.2
108.8
108.2
108.0
107.3
100.1
101.5
100.7
100.5
100.9
101.0
101.2
101.4
101.7
102.3
102.6
103.3
101.4
100.8
101.3
101.0
100.9
100.7
100.7
100.6
100.7
101.1
101.1
101.2
101.3
101.0
100.6
100.9
100.6
100.7
100.7
100.7
100.7
100.8
100.9
100.8
100.8
101.0
100.8
100.4
100.6
100.4
100.3
100.6
101.1
101.3
101.5
101.9
105.1
107.1
107.6
102.3
96.8
97.8
96.9
96.8
96.7
96.7
96.7
96.8
96.8
97.8
98.4
98.4
97.2
2003 January
February
March
April
May
June
July
August
September
October
November
December
Average
3.8
3.8
3.9
3.8
3.6
3.2
3.0
2.8
2.7
2.1
2.4
2.9
3.2
106.1
108.4
107.7
107.7
107.6
107.3
107.0
106.9
107.0
106.7
107.3
108.2
107.3
113.1
114.5
113.4
112.8
111.8
110.0
108.6
108.8
108.8
109.3
112.4
114.6
111.5
109.4
114.2
111.5
111.2
111.1
111.0
110.7
110.3
110.0
109.7
110.0
111.0
110.9
104.3
106.6
105.9
105.7
105.5
105.5
105.5
105.6
105.7
106.0
106.3
107.0
105.8
102.2
102.8
102.6
103.0
103.5
103.5
103.5
103.5
103.7
103.7
104.2
104.7
103.4
101.3
101.5
101.7
101.8
102.0
102.1
102.1
101.8
101.8
102.2
102.7
103.1
102.0
108.3
108.8
110.9
111.3
110.8
110.3
110.5
110.8
110.9
111.1
111.7
112.3
110.6
98.7
100.0
100.7
100.5
100.3
100.2
100.1
100.0
100.0
95.0
94.6
94.7
98.8
2004 January
February
March
April
May
June
July
August
September
October
November
December
Average
3.1
3.9
5.4
5.9
7.0
8.1
9.1
9.9
10.1
10.4
10.0
9.7
7.7
109.4
112.6
113.5
114.1
115.1
116.1
116.8
117.5
117.8
117.8
118.0
118.6
115.6
117.0
118.8
122.1
124.3
127.1
127.8
126.9
127.9
128.3
128.0
128.9
130.2
125.6
112.8
120.5
122.0
122.8
125.0
127.2
128.5
129.5
130.2
129.9
129.5
130.2
125.7
110.1
110.7
108.9
109.2
109.6
109.6
109.7
110.2
110.2
110.4
110.4
110.7
110.0
106.0
106.3
106.8
107.6
107.5
107.6
107.8
108.2
108.7
108.9
109.1
109.8
107.9
103.7
104.4
104.1
104.6
104.7
104.8
105.1
105.5
105.9
106.2
106.3
106.8
105.2
113.2
114.7
117.1
117.6
117.8
117.6
118.3
119.0
119.5
119.8
120.4
120.9
118.0
94.7
95.3
95.2
95.3
95.5
95.5
98.3
98.3
98.5
98.5
99.6
100.0
97.1
2005 January
February
March
April
May
June
July
August
September
October
November
December 3/
Average
9.7
9.1
8.3
8.4
8.0
7.6
7.4
7.2
7.7
8.2
8.5
8.8
8.3
119.9
122.9
123.0
123.7
124.4
124.8
125.4
125.9
126.9
127.5
128.0
129.1
125.1
132.0
135.3
136.7
137.4
137.7
136.9
136.1
136.1
136.5
137.3
138.8
140.5
136.8
132.7
138.4
138.4
139.2
140.3
141.5
141.8
142.3
142.9
143.4
143.5
145.9
140.9
111.6
113.4
113.2
113.4
114.4
114.2
114.4
114.8
114.8
115.3
115.6
116.1
114.3
110.6
111.1
110.8
111.1
111.5
111.8
112.1
112.8
113.5
114.0
114.5
115.2
112.4
107.7
108.1
108.3
108.7
109.0
109.4
109.7
110.3
110.6
111.1
111.4
112.0
109.7
121.3
121.8
122.2
123.6
124.6
124.6
126.7
127.4
129.6
131.0
131.9
132.7
126.5
100.3
101.1
100.9
102.4
102.8
102.9
105.0
106.0
110.1
110.4
110.6
109.4
105.2
2006 January
February
March
April
May
June
July
August
September
October
November
December
Average
8.9
8.5
7.9
7.4
7.5
7.6
7.5
7.5
6.9
6.7
6.9
6.6
7.5
130.6
133.4
132.7
132.9
133.8
134.3
134.8
135.3
135.7
136.0
136.9
137.6
143.3
143.5
146.0
146.2
146.6
147.1
147.4
148.0
148.4
149.0
151.0
156.6
160.4
168.3
148.0
153.6
151.8
152.1
152.2
152.8
153.6
153.7
152.7
153.0
153.7
153.9
163.2
117.5
119.2
118.7
118.7
119.2
119.5
120.3
120.5
120.9
121.3
122.3
122.2
126.5
116.3
117.3
117.6
117.8
118.3
118.8
119.1
119.7
120.5
121.0
121.0
121.9
125.4
112.6
113.3
113.7
114.2
114.8
115.6
116.0
116.3
116.8
117.4
118.2
119.0
121.9
133.8
134.8
135.0
134.6
135.8
137.2
138.2
139.7
140.9
140.1
139.9
140.6
149.8
109.5
110.4
109.7
109.8
113.0
113.1
113.3
114.4
116.2
114.2
113.6
113.7
115.9
2007 January
February
March
April
May
June
July
August
Average
6.5
6.5
6.8
7.2
7.3
7.8
8.4
8.6
7.4
139.0
142.0
141.7
142.4
143.5
144.7
146.1
146.9
143.3
163.3
167.8
167.7
167.6
168.6
169.3
170.2
171.7
168.3
155.3
161.2
160.2
161.3
162.9
165.2
169.0
170.6
163.2
124.2
127.3
126.4
126.2
126.4
126.6
127.0
127.6
126.5
123.1
124.7
124.4
125.0
125.6
126.2
126.8
127.3
125.4
119.6
120.9
121.0
121.6
122.3
122.8
123.4
123.7
121.9
144.9
147.6
147.5
148.9
150.2
152.2
153.3
153.5
149.8
113.8
113.9
114.5
115.7
116.4
117.4
117.6
117.8
115.9
8
Table 5. Vietnam: Gross Value of Agricultural Production at Constant Prices, 200206
2002
2003
2004
2005
2006
Est.
119,260
124,693
129,861
134,007
138,824
75,814
59,619
7,771
6,895
1,529
22,247
21,200
77,611
61,029
8,030
7,017
1,535
24,175
22,907
80,810
63,621
8,284
7,355
1,551
25,612
23,439
82,313
63,853
8,928
7,943
1,589
25,586
26,108
83,244
64,193
9,401
8,037
1,613
27,578
28,002
63.6
50.0
6.5
5.8
1.3
18.7
17.8
62.2
48.9
6.4
5.6
1.2
19.4
18.4
62.2
49.0
6.4
5.7
1.2
19.7
18.0
61.4
47.6
6.7
5.9
1.2
19.1
19.5
60.0
46.2
6.8
5.8
1.2
19.9
20.2
3.2
1.9
0.4
7.8
8.0
2.5
-0.1
11.4
3.6
1.1
0.5
5.3
1.2
1.5
7.8
7.3
6.3
8.6
8.3
13.5
7.7
2.9
-3.7
9.9
4.6
2.4
2.4
3.3
1.8
0.4
8.7
8.1
4.1
4.1
4.2
3.2
4.8
1.0
5.9
2.3
9
Table 6. Vietnam: Production of Food Staples, 200206
2002
2003
36,961
37,707
34,447
16,720
9,189
8,539
8,653
2,511
1,704
4,438
14,082
22,879
2004
2005
2006
Est.
39,581
39,622
39,648
34,569
16,823
9,401
8,345
10,022
3,136
1,577
5,309
36,149
17,078
10,431
8,640
10,764
3,431
1,512
5,821
35,833
17,332
10,436
8,065
11,946
3,787
1,443
6,716
35,827
17,531
9,715
8,582
12,988
3,819
1,455
7,714
14,234
23,473
15,000
24,581
14,355
25,267
15,024
24,624
0.1
-0.9
1.5
0.0
-6.7
11.0
10.4
-4.6
15.4
0.1
0.0
1.1
-6.9
6.4
8.7
0.8
0.8
14.9
7.8
7.3
8.0
10.3
2.8
18.1
16.2
3.0
26.5
2.0
0.4
0.6
2.3
-2.3
15.8
24.9
-7.4
19.6
5.0
4.6
1.5
11.0
3.5
7.4
9.4
-4.1
9.6
8,323
8,367
8,438
8,383
8,358
7,504
3,033
2,294
2,178
1,391
816
238
337
7,452
3,023
2,320
2,109
1,505
913
220
372
7,445
2,979
2,366
2,101
1,582
991
202
389
7,329
2,942
2,349
2,038
1,664
1,053
185
426
7,324
2,989
2,323
2,013
1,689
1,032
182
475
3,077
5,245
3,110
5,256
3,136
5,302
3,132
5,251
3,120
5,238
4.6
5.6
4.1
4.0
6.7
3.4
7.2
14.3
4.9
5.7
4.4
4.1
6.8
3.5
7.5
15.0
4.9
5.9
4.4
4.0
7.2
3.6
7.8
15.8
4.9
5.9
4.2
4.3
7.7
3.7
8.0
16.2
4.6
4.4
4.6
4.5
4.8
4.6
4.6
4.8
4.8
4.7
0.5
0.4
0.0
6.8
149.8
146.4
219.5
7.8
7.3
16.2
0.5
0.4
0.0
8.3
152.8
146.9
274.2
2.0
0.4
24.9
0.5
0.4
0.0
8.7
160.4
153.6
299.9
5.0
4.6
9.4
0.5
0.4
0.0
9.6
160.6
152.3
331.1
0.1
-0.9
10.4
0.5
0.4
0.0
9.6
160.7
152.3
333.9
0.1
0.0
0.8
Sources: Ministry of Agriculture; General Statistics Office; and Fund staff estimates.
10
Table 7. Vietnam: Industrial Crop Production and Livestock, 200206
2002
2003
2004
2005
2006
Est.
40
20
88
17,120
400
206
33
35
12
96
16,855
406
220
32
28
13
90
15,649
469
246
23
34
13
81
14,949
489
293
26
26
11
93
15,679
465
258
43
424
700
298
915
47
449
794
364
893
69
514
836
419
960
73
570
752
482
977
80
612
854
546
982
83
21.4
0.0
-10.0
-4.5
4.3
19.1
13.0
10.9
-10.0
15.0
-23.5
-15.4
14.8
4.9
-4.9
-11.9
65.4
7.4
13.6
13.3
18.8
39.7
36.6
16.8
10.3
18.4
3.8
24.7
-16.8
-4.6
-11.8
-41.2
9.0
-1.5
1.4
7.0
-3.6
5.9
13.5
22.1
-20.5
8.3
-6.3
-7.2
15.5
11.8
-28.1
14.5
5.3
15.1
846
835
857
862
843
34
10
12
28
5
14
28
5
13
26
6
13
21
6
13
320
247
159
27
1,492
313
244
166
23
1,511
286
264
184
16
1,554
266
270
204
17
1,634
285
250
186
27
1,658
109
522
429
140
48
116
510
441
134
51
121
497
454
133
51.0
123
497
483
132
49
123
489
512
133
49
1.2
2.1
7.2
53.5
1.6
1.3
1.2
3.9
1.3
0.7
1.3
2.5
6.9
53.8
1.7
1.3
1.4
3.9
1.6
0.8
1.0
2.8
7.1
54.7
1.8
1.3
1.4
4.2
1.7
0.9
1.3
2.2
6.2
56.2
1.8
1.4
1.5
4.6
1.5
1.0
1.2
1.8
7.2
55.0
1.9
1.4
1.6
5.0
1.7
1.1
2.9
5.5
27.4
219.9
2.9
6.5
26.9
214.6
2.8
4.1
23.2
233.3
2.8
4.4
24.9
254.6
2.9
4.9
26.1
218.2
11
Table 8. Vietnam: Gross Value of Industrial Production at Constant Prices, 200206 1/
2002
2003
2004
2005
2006
Est.
30.3
3.2
23.8
0.3
3.0
213.6
56.1
7.7
20.5
12.3
8.2
11.1
9.4
4.5
4.9
2.9
15.0
0.3
14.7
9.7
25.9
17.0
8.5
8.5
4.7
1.0
3.7
13.2
6.2
0.5
6.5
14.3
5.8
8.5
6.1
6.1
0.2
17.0
15.7
1.3
261.1
32.8
3.7
25.1
0.3
3.6
252.9
64.6
9.2
24.7
14.2
10.5
13.5
11.1
5.5
5.7
3.5
16.6
0.3
16.3
11.3
29.9
21.1
10.4
10.6
6.2
1.5
4.6
15.2
7.2
0.6
7.5
18.0
8.3
9.7
8.0
7.8
0.2
19.4
18.1
1.4
305.1
37.5
4.8
28.4
0.5
3.8
296.3
74.7
10.2
29.4
16.6
12.8
16.0
13.7
6.6
7.1
3.8
19.5
0.4
19.0
15.2
33.5
24.2
11.2
13.0
7.2
1.8
5.4
17.7
8.0
0.7
9.1
20.9
8.7
12.2
10.4
10.2
0.3
21.9
20.4
1.5
355.6
38.4
6.1
27.4
0.5
4.4
353.2
86.5
11.2
34.4
19.1
15.3
18.9
16.4
8.1
8.3
4.6
24.4
0.6
23.8
18.2
37.1
31.5
13.9
17.6
8.7
3.2
5.5
21.9
9.1
0.8
12.0
25.6
9.8
15.8
13.7
13.4
0.3
25.0
23.4
1.6
416.6
38.8
7.8
25.8
0.4
4.9
420.1
99.5
12.3
40.7
22.2
18.5
22.2
19.7
10.3
9.4
5.9
29.2
0.8
28.4
21.9
41.7
39.1
16.9
22.2
10.3
4.6
5.7
27.0
10.6
0.8
15.6
32.1
12.0
20.1
18.5
18.2
0.3
28.5
26.8
1.7
487.5
2.5
-3.5
19.2
15.8
16.9
30.2
24.1
22.7
14.4
17.2
1.0
-5.8
18.9
15.0
18.3
24.1
23.1
25.4
13.9
17.0
4.2
0.1
16.4
11.3
17.0
22.5
19.6
26.3
15.4
14.7
8.1
5.6
18.4
15.2
20.5
23.8
15.2
25.4
14.1
16.9
14.4
13.0
17.2
15.7
19.2
14.8
16.3
16.0
12.5
16.6
12
Table 9. Vietnam: Industrial Production by Sector of Ownership at Constant Prices, 200206 1/
2002
2003
2004
2005
2006
Est.
261,092
305,080
355,624
State sector
105,119
117,637
131,655
141,125
154,230
69,640
35,479
63,474
1,668
34,173
27,633
92,499
23,817
68,682
80,917
36,720
78,292
1,770
46,422
30,101
109,152
25,132
84,020
92,896
38,759
95,785
1,893
60,811
33,081
128,184
28,403
99,781
104,371
36,754
120,127
1,969
79,901
38,257
155,319
27,400
127,919
116,750
37,480
148,783
2,032
103,017
43,734
184,479
25,800
158,679
Central
Local
Nonstate sector
Cooperatives
Private and mixed
Household
Foreign invested sector
Of which: oil and gas
(excluding oil and gas)
416,571
487,492
40.3
26.7
13.6
24.3
0.6
13.1
10.6
38.6
26.5
12.0
25.7
0.6
15.2
9.9
37.0
26.1
10.9
26.9
0.5
17.1
9.3
33.9
25.1
8.8
28.8
0.5
19.2
9.2
31.6
23.9
7.7
30.5
0.4
21.1
9.0
35.4
26.3
35.8
27.5
36.0
28.1
37.3
30.7
37.8
32.6
14.8
12.5
12.1
13.3
18.3
16.8
11.9
16.2
3.5
23.3
16.6
11.9
14.8
5.6
22.3
17.1
7.2
12.4
-5.2
25.4
17.0
9.3
11.9
2.0
23.9
Cooperatives
Private and mixed
Household
Foreign invested sector
(excluding oil and gas)
5.9
26.0
10.7
15.2
21.6
6.1
35.8
8.9
18.0
22.3
7.0
31.0
9.9
17.4
18.8
4.0
31.4
15.6
21.2
28.2
3.2
28.9
14.3
18.8
24.0
13
Table 10. Vietnam: Population and Employment, 200206
2002
2003
2004
2005
2006
Est.
79,727
1.3
20,022
2.8
59,705
0.8
80,902
82,032
1.5
20,869
4.2
60,033
0.5
1.4
21,737
4.2
60,295
0.4
Total employment
Unemployment rate 1/
39,508
6.0
40,574
5.8
41,586
5.6
83,106
1.3
22,337
2.8
60,770
0.8
84,156
1.3
22,824
2.2
61,332
0.9
42,527
5.3
43,347
4.5
26.9
73.1
49.1
50.9
27.1
63.9
9.0
51.2
27.1
72.9
49.1
50.9
26.3
64.5
9.2
51.5
42,527
38,488
4,039
1,613
2,426
43,347
39,339
4,008
1,572
2,436
90.5
9.5
3.8
5.7
90.8
9.2
3.6
5.6
2.3
2.7
-1.7
-3.9
-0.2
1.9
2.2
-0.8
-2.5
0.4
25.1
74.9
49.2
50.8
30.3
61.1
8.7
49.6
25.8
74.2
49.1
50.9
29.3
61.9
8.8
50.2
26.5
73.5
49.1
50.9
28.0
63.0
9.0
50.7
39,508
35,757
3,751
1,569
2,181
40,574
36,538
4,035
1,628
2,407
41,586
37,478
4,108
1,678
2,430
90.5
9.5
4.0
5.5
90.1
9.9
4.0
5.9
90.1
9.9
4.0
5.8
2.5
2.3
4.1
4.7
3.6
2.7
2.2
7.6
3.8
10.3
2.5
2.6
1.8
3.0
1.0
Sources: General Statistics Office; Ministry of Labour, Invalids, and Social Affairs (MOLISA); and Fund staff estimates.
1/ For labor force in urban area comprising males 15 to 59 years old and females 15 to 54 years old.
2/ Armed forces and some other special groups are excluded from urban/rural categories.
3/ As reported by GSO.
14
Table 11. Vietnam: Total and Nonstate Employment by Sector, 200206
2002
2003
39,508
40,574
24,456
6,085
4,558
1,526
5,464
4,281
1,183
1,497
2,006
24,443
6,671
4,982
1,688
5,726
4,532
1,194
1,584
2,149
Total employment
Agriculture, fisheries, and forestry
Industry and construction
Trade, transport, and communications
Education, culture, health
Other 2/
2.5
-0.1
9.6
4.2
5.7
6.5
2004
2005
2006
Est.
41,586
42,527
43,347
24,431
7,217
5,294
1,923
5,969
4,767
1,202
1,657
2,313
24,342
7,782
5,601
2,181
6,196
4,992
1,204
1,726
2,480
24,123
8,280
5,841
2,439
6,463
5,251
1,212
1,806
2,675
2.3
-0.4
7.8
3.8
4.1
7.2
1.9
-0.9
6.4
4.3
4.6
7.9
57.2
18.3
14.6
4.1
5.8
55.7
19.1
14.9
4.2
6.2
2.5
-0.1
8.2
4.2
4.6
7.6
61.9
15.4
13.8
3.8
5.1
60.2
16.4
14.1
3.9
5.3
58.7
17.4
14.4
4.0
5.6
7,929
2,913
19,249
11,621
18,347
8,287
3,013
19,399
11,818
18,306
4.5
12.3
-0.1
2.9
4.5
3.4
0.8
1.7
35,757
24,233
4,698
3,651
1,047
5,070
4,087
983
258
1,498
36,538
24,216
5,198
4,050
1,148
5,374
4,372
1,002
292
1,459
2.3
0.0
10.5
4.5
1.6
10.3
67.8
13.1
14.2
0.7
4.2
8,707
3,001
19,760
12,282
18,355
9,242
3,159
20,285
12,793
24,293
9,808
3,296
21,043
13,350
24,221
6.1
5.3
2.7
4.2
6.1
4.3
3.7
4.4
38,488
24,131
6,438
4,755
1,683
5,874
4,869
1,005
336
1,709
39,339
23,915
6,976
4,979
1,997
6,153
5,143
1,010
392
1,903
2.7
-0.3
11.9
4.5
5.1
8.8
2.2
-0.9
8.4
4.7
16.5
11.3
2. Nonstate employment 3/
5.1
-0.4
1.9
3.9
2.6
0.0
10.7
4.6
9.6
7.7
64.6
15.4
15.0
0.9
4.2
62.7
16.7
15.3
0.9
4.4
Sources: General Statistics Office; and Ministry of Labor, Invalids and Social Affairs (MOLISA); and Fund staff estimates.
1/ Includes mining and quarrying and electricity, gas, and water supply.
2/ Includes unclassified workers.
3/ Employment outside central and local government and state-owned enterprises.
60.8
17.7
15.6
1.0
4.8
15
Table 12. Vietnam: Employment in the State Sector, 200206
2002
2003
2004
2005
2006
Est.
3,751
223
1,387
908
479
394
194
200
1,239
971
34
37
197
508
4,035
227
1,473
933
540
353
161
192
1,292
1,018
29
39
206
691
4,108
221
1,461
930
532
348
151
197
1,338
1,050
29
40
218
741
4,039
212
1,345
846
498
322
123
199
1,390
1,090
36
40
224
771
4,008
207
1,304
862
442
311
109
202
1,414
1,115
26
44
229
772
5.9
37.0
10.5
33.0
13.5
Total employment
Agriculture and forestry
Industry and construction
Industry
Construction
Trade, transport, and communications
Trade
Transport
Education, health, science, and arts
Science
Education
Culture, arts, and sport
Public health
Other
4.1
-0.8
6.6
4.2
11.6
0.7
2.1
-0.5
3.7
1.5
3.7
3.9
3.8
3.1
5.6
36.5
8.7
32.0
17.1
5.4
35.6
8.5
32.6
18.0
5.2
33.3
8.0
34.4
19.1
5.2
32.5
7.8
35.3
19.3
1.8
-2.8
-0.8
-0.4
-1.6
-1.4
-5.9
2.4
3.5
1.0
3.2
2.3
5.9
7.3
-1.7
-4.1
-8.0
-9.0
-6.2
-7.3
-18.5
1.3
3.9
22.9
3.8
0.8
2.7
4.0
-0.8
-2.0
-3.0
1.8
-11.4
-3.6
-11.7
1.4
1.8
-28.9
2.3
11.0
2.2
0.2
1,069
1703
1,104
740
1,910
1,127
783
895
815
797
691
1,935
1,247
1925
1,261
988
2,278
1,323
1,016
1,051
994
950
797
2,321
1,421
1,867
1,361
1,250
2,433
1,468
1,115
1,165
1,082
1,024
898
2,791
1,651
2,198
1,960
1,031
2,345
1,653
1,293
1,597
1,321
1,228
1,093
2,746
12.0
10.0
14.9
25.5
14.6
17.2
15.1
8.0
13.4
9.8
5.0
7.2
7.7
5.8
10.4
20.7
10.2
12.7
3.9
10.6
9.1
5.6
0.9
3.1
13.1
9.6
10.7
29.3
15.6
13.7
25.6
13.7
18.3
15.6
11.8
16.3
5.8
-10.0
0.2
17.5
-0.8
3.0
1.9
2.9
1.1
0.1
4.6
11.6
7.3
8.7
33.0
-23.8
-11.0
4.0
7.1
26.6
12.7
10.8
12.4
-9.2
4.0
3.2
7.7
8.3
7.5
1/ Cash income, including payments in kind, bonus payments, and social security contributions.
2/ Nominal wage growth deflated by consumer price inflation.
16
Table 13. Vietnam: Summary of General Government Budgetary Operations, 2004-07
2004
2005
2006
2007
Est
Budget 1/
191.3
56.9
131.6
97.6
34.0
2.9
217.1
73.4
141.4
113.4
28.0
2.3
264.3
94.5
166.1
134.6
31.5
3.6
281.9
88.7
190.2
161.0
29.2
3.0
Total expenditure
Current Expenditure 3/
Wages and salaries 4/
Interest payments
Other current expenditure
Capital Expenditure
184.8
121.2
34.5
7.2
79.5
63.6
226.9
155.0
65.0
7.0
83.0
72.0
267.6
181.5
76.1
8.9
96.5
86.1
320.7
221.3
87.1
11.7
122.4
99.5
6.5
-9.9
-3.3
-38.8
26.6
39.4
33.7
50.5
-20.0
-49.3
-37.0
-89.3
20.0
6.7
13.3
49.3
27.4
21.8
37.0
17.5
19.5
89.3
62.4
26.9
26.7
7.9
18.4
13.6
4.8
0.4
25.9
8.7
16.8
13.5
3.3
0.3
27.1
9.7
17.1
13.8
3.2
0.4
24.9
7.8
16.8
14.3
2.6
0.3
Total expenditure
Current Expenditure 3/
Wages and salaries 4/
Interest payments
Other current expenditure
Capital Expenditure
25.8
16.9
4.8
1.0
11.1
8.9
27.0
18.5
7.7
0.8
9.9
8.6
27.5
18.6
7.8
0.9
9.9
8.8
28.4
19.6
7.7
1.0
10.8
8.8
0.9
-1.2
-0.3
-3.4
3.7
4.7
3.5
4.5
-2.8
-5.9
-3.8
-7.9
2.8
0.9
1.9
5.9
3.3
2.6
3.8
1.8
2.0
7.9
5.5
2.4
1/ Budget refers to the 2007 budget approved by the National Assembly, with projected oil revenues based on an oil price of US$62 and
the contigency included in expenditure.
2/ Staff estimates. Includes revenue from crude oil as well as import and domestic taxes related to petroleum products.
3/ Current expenditure includes subsidies to oil traders to cover less-than-complete pass-through of international prices to domestic prices.
4/ Staff estimates, as no official data are available.
5/ Includes investment financed through the issuance of infrastructure and education bonds; SOCB recapitalization bonds issued in 2004;
domestic and ODA-financed on-lending; and sovereign issuance for on-lending purposes.
17
Table 14. Vietnam: Government Revenues, 200407
2004
2005
2006
2007
Budget
191.3
217.1
264.2
281.9
138.2
57.0
3.5
0.0
0.4
0.7
2.6
0.6
38.8
12.8
0.0
0.1
21.6
0.0
0.0
166.2
71.7
4.2
0.0
0.5
0.7
2.8
1.0
45.7
15.7
0.0
0.1
23.6
0.0
0.0
210.3
100.8
5.2
0.0
0.6
0.8
3.4
1.3
54.8
17.1
0.0
0.1
26.3
0.0
0.0
231.4
99.0
6.1
0.0
0.6
0.8
3.8
1.2
78.9
17.1
0.0
0.1
23.8
0.0
0.0
50.2
22.0
1.0
17.4
1.3
8.5
48.5
21.0
1.0
21.9
0.9
3.8
50.3
23.1
1.6
20.2
1.5
3.9
47.5
23.1
1.1
19.9
0.8
2.6
2.9
2.3
3.6
3.0
26.7
25.9
27.1
24.9
19.3
8.0
0.5
0.0
0.1
0.1
0.4
0.1
5.4
1.8
0.0
0.0
3.0
0.0
0.0
19.8
8.5
0.5
0.0
0.1
0.1
0.3
0.1
5.4
1.9
0.0
0.0
2.8
0.0
0.0
21.6
10.4
0.5
0.0
0.1
0.1
0.3
0.1
5.6
1.8
0.0
0.0
2.7
0.0
0.0
20.5
8.8
0.5
0.0
0.1
0.1
0.3
0.1
7.0
1.5
0.0
0.0
2.1
0.0
0.0
Nontax revenue
Fees and charges
Rental of land
Income from natural resources
Capital revenues
Other
7.0
3.1
0.1
2.4
0.2
1.2
5.8
2.5
0.1
2.6
0.1
0.4
5.2
2.4
0.2
2.1
0.2
0.4
4.2
2.0
0.1
1.8
0.1
0.2
Grants
0.4
0.3
0.4
0.3
Tax revenue
Corporate income tax
Individual income tax
Capital user charge
Land and housing tax
License tax
Tax on the transfer of properties
Tax on land use right
VAT
Excises
Slaughter tax
Agricultural tax
Import and export taxes
Othe taxes on trade
Other taxes
18
Table 15. Vietnam: Government Expenditures, 200407 1/
2004
2005
2006
2007
Budget
184.8
226.9
267.6
320.7
121.2
155.0
181.5
221.3
15.9
10.3
55.2
20.4
6.0
17.3
11.5
32.7
7.2
16.8
12.8
77.3
29.1
10.7
23.6
13.8
41.1
7.0
19.0
15.0
91.4
33.8
12.7
28.7
16.3
47.2
8.9
24.8
16.3
97.3
38.1
14.7
26.8
17.8
71.1
11.7
63.6
72.0
86.1
99.5
26.4
0.0
5.0
1.5
2.6
17.3
39.4
2.8
10.6
0.0
3.5
22.5
33.7
0.0
10.3
0.0
2.5
20.9
39.4
0.0
12.5
0.0
3.0
23.9
25.8
27.1
27.5
28.4
16.9
18.5
18.6
19.6
2.2
1.4
7.7
2.9
0.8
2.4
1.6
4.6
1.0
2.0
1.5
9.2
3.5
1.3
2.8
1.7
4.9
0.8
2.0
1.5
9.4
3.5
1.3
2.9
1.7
4.8
0.9
2.2
1.4
8.6
3.4
1.3
2.4
1.6
6.3
1.0
8.9
8.6
8.8
8.8
3.7
0.0
0.7
0.2
0.4
2.4
4.7
0.3
1.3
0.0
0.4
2.7
3.5
0.0
1.1
0.0
0.3
2.1
3.5
0.0
1.1
0.0
0.3
2.1
19
Table 16. Vietnam: Treasury Bill and Bond Issues, 200506
(In billions of dong, unless otherwise indicated)
Auction date
2005 January
February
March
April
May
June
July
August
September
October
November
December
600
1,000
870
350
1,230
1,521
1,800
1,600
4,250
6,300
1,900
700
6.0
6.0
6.0
6.1
6.1
6.2
6.2
6.3
6.3
6.3
6.3
6.3
19,765
19,025
17,295
15,545
15,075
14,396
14,724
13,922
16,272
21,172
21,822
22,121
2006 January
February
March
April
May
June
July
August
September
October
November
December
500.0
2,900.0
2,800.0
2,000.0
2,000.0
3,000.0
3,345.0
2,850.1
680.0
1,300.0
100.0
600.0
6.3
6.3
6.3
5.9
5.7
5.2
4.0
3.7
3.4
3.4
3.4
3.3
22,021
23,921
25,851
27,501
28,271
29,750
31,295
32,545
28,975
23,975
22,175
22,075
Sources: State Bank of Vietnam and Ministry of Finance; and Fund staff estimates.
163
401
409
760
148
298
248
211
251
339
560
277
652
393
453
343
309
200
127
352
-
8.4
8.4
8.4
8.4
8.4
8.4
8.4
8.4
8.4
8.4
8.4
8.4
8.6
8.6
8.6
8.6
8.6
8.6
8.6
8.6
8.6
8.6
-
5,633
5,736
5,806
5,695
5,705
5,668
5,677
5,665
5,578
5,453
5,710
5,696
5,571
5,271
5,152
4,977
4,764
4,563
4,460
4,304
4,216
3,979
3,844
3,335
15,797
16,132
17,472
18,412
20,193
21,557
21,855
23,491
25,120
26,010
27,388
28,763
29,514
30,664
35,087
37,792
40,342
42,631
43,046
44,081
44,681
44,392
44,847
44,831
20
Table 17. Vietnam: Monetary Survey, 2003-07 1/
2003
2004
2005
2006
131.4
150.5
-19.1
145.9
172.5
-26.6
191.1
220.5
-29.4
287.9
327.0
-39.1
341.4
387.0
-45.6
381.3
430.8
-49.5
Mar
2007
June
279.8
316.9
20.1
296.7
65.2
105.4
191.3
-37.0
386.4
434.6
14.5
420.0
104.5
142.9
277.1
-48.1
499.7
585.6
32.5
553.1
134.3
181.3
371.8
-86.0
634.7
730.3
36.5
693.8
146.4
218.5
475.3
-95.6
689.4
764.7
26.3
738.3
162.7
231.8
506.5
-75.2
735.9
833.5
15.8
817.7
181.9
...
...
-97.6
411.2
320.6
314.1
90.6
223.6
97.1
6,220
23.6
532.3
423.2
402.7
109.1
293.6
129.6
8,215
24.3
690.7
559.5
531.5
131.2
400.3
159.2
10,027
23.0
922.7
763.9
723.2
158.8
564.4
199.5
12,396
21.6
1,030.8
856.9
828.6
173.9
654.7
202.2
12,560
19.6
1,117.2
947.0
891.5
170.3
721.3
225.7
13,992
20.2
28.4
41.0
17.8
35.1
24.9
25.8
33.4
22.0
38.6
3.7
41.6
60.3
35.6
44.8
29.5
32.0
28.2
20.4
31.3
33.5
Velocity of M2 2/
Money multiplier 3/
Currency/total deposits (in percent)
Foreign currency deposits/total deposits
Foreign currency loans/total loans
1.4
3.4
28.2
30.3
22.0
Memorandum items:
Gross official international reserves 4/
(in weeks of next year's imports of GNFS)
(change during year, in millions of U.S. dollars)
Net foreign assets of the banking system
(change during year, in millions of U.S. dollars)
31.7
28.5
26.9
34.2
29.7
32.2
32.0
20.2
36.3
22.8
25.4
9.0
20.5
27.8
33.6
36.5
36.1
21.1
41.0
25.3
31.6
21.3
26.9
33.8
39.4
42.2
45.0
26.8
50.8
20.2
36.8
28.3
...
...
42.7
45.8
48.3
27.6
54.2
24.1
1.0
4.2
18.0
23.8
22.2
6,314
8.4
694
9,248
829
9,597
9.4
3,283
12,036
2,788
11,483
10.4
1,886
17,894
5,857
17,244
...
5,761
21,204
3,310
20,026
...
8,543
23,638
5,744
21
Table 18. Vietnam: Balance Sheet of State Bank of Vietnam, 2003-07
(In trillions of dong, unless otherwise indicated)
2003
2004
2005
2006
2007
Mar
Jun
91.0
99.5
-8.4
105.7
113.4
-7.7
140.4
146.7
-6.2
211.9
218.2
-6.3
290.7
297.0
-6.3
332.7
338.6
-6.0
30.6
24.2
10.7
13.6
6.4
35.5
25.7
11.3
14.4
9.8
34.1
18.9
7.9
11.0
15.2
18.8
1.1
-6.9
8.0
17.8
-48.3
-19.2
-27.3
8.1
-29.1
-64.3
-14.6
-25.0
10.4
-49.7
121.6
94.9
26.8
141.2
114.1
27.0
174.6
137.4
37.1
230.8
167.4
63.4
242.4
185.3
57.1
268.4
182.4
86.0
27.4
16.1
23.7
32.2
32.1
50.1
Reserve money
Currency in circulation
Bankers' deposits
Memorandum items:
Reserve money growth (annual percentage change)
Sources: State Bank of Vietnam; and staff estimates.
22
Table 19 Vietnam: Consolidated Balance Sheet of Deposit Money Banks (DMBs), 2003-07 1/
(In trillions of dong, unless otherwise indicated)
2003
2004
2005
2007
2006
Mar
Jun
40.4
51.1
-10.7
40.2
59.1
-18.9
50.6
73.8
-23.2
76.0
108.8
-32.8
50.7
90.0
-39.3
48.6
92.2
-43.6
280.3
306.2
9.5
296.7
105.4
191.3
0.0
-25.9
30.8
-14.5
-41.7
-0.5
383.0
423.3
3.2
420.0
142.9
277.1
0.0
-40.3
31.6
-16.7
-57.6
2.4
508.9
577.7
24.6
553.1
181.3
371.8
687.8
737.2
43.4
693.8
218.5
475.3
806.2
792.0
53.6
738.3
231.8
506.5
898.3
858.5
40.8
817.7
...
...
-68.8
43.0
-20.9
-65.0
-25.9
-49.4
71.3
-25.4
-87.9
-7.4
14.2
66.6
-10.0
-102.8
60.5
39.8
95.5
-11.3
-120.4
76.1
Total deposits
Dong deposits
Demand deposits
Time deposits
Foreign currency deposits
Demand deposits
Import/restricted deposits
320.6
223.6
69.8
153.8
97.1
92.5
4.6
423.2
293.6
92.8
200.8
129.6
123.2
6.4
559.5
400.3
114.9
285.4
159.2
152.6
6.6
763.9
564.4
138.5
425.9
199.5
191.2
8.2
856.9
654.7
149.6
505.1
202.2
194.2
8.0
947.0
721.3
170.7
550.6
225.7
214.4
11.3
-33.7
44.4
33.8
28.4
17.8
35.1
52.6
-24.7
34.9
25.8
38.6
3.7
-0.4
36.7
38.2
41.6
35.6
44.8
2.8
15.1
38.0
32.0
31.3
33.5
25.9
32.8
36.5
31.7
26.9
34.2
35.9
25.6
12.9
32.2
36.3
22.8
50.1
35.2
27.6
25.4
...
...
65.8
21.5
35.2
36.5
41.0
25.3
-0.2
46.2
32.8
31.6
...
...
45.6
-4.7
43.6
42.2
50.8
20.2
-3.6
50.0
35.1
36.8
...
...
120.7
6.8
60.4
45.8
54.2
24.1
23
Table 20. Vietnam: Distribution of Credit, 200207 1/ 2/
2002
2003
2004
2005
2006
2007
Mar.
231,078
89,500
141,578
296,737
105,400
191,337
693,800
218,547
475,253
738,300
231,826
506,474
175,489
81,600
93,889
55,589
7,900
47,689
214,800
95,700
119,100
81,937
9,700
72,237
315,335
145,800
169,535
105,000
16,300
88,700
381,406
158,006
223,400
171,700
23,300
148,400
440,500
175,700
264,800
253,300
42,800
210,500
456,800
182,400
274,400
281,500
49,400
232,100
184,829
66,500
118,329
231,700
74,900
156,800
317,400
96,700
220,700
418,700
124,800
293,900
547,500
154,700
392,800
575,500
162,300
413,200
177,700
68,700
109,000
54,000
6,200
47,800
234,400
87,100
147,300
83,000
9,600
73,400
302,800
109,900
192,900
115,900
14,900
101,000
362,800
125,500
237,300
184,700
29,200
155,500
370,800
128,800
242,000
204,700
33,500
171,200
46,249
23,000
23,249
65,037
30,500
34,537
102,935
46,200
56,735
134,406
56,506
77,900
146,300
63,847
82,453
162,800
69,526
93,274
25,612
20,100
5,512
20,637
2,900
17,737
37,137
27,000
10,137
27,900
3,500
24,400
61,735
39,500
22,235
41,200
6,700
34,500
78,606
48,106
30,500
55,800
8,400
47,400
77,700
50,200
27,500
68,600
13,600
55,000
86,000
53,600
32,400
76,800
15,900
60,900
100.0
38.7
61.3
100.0
35.5
64.5
100.0
34.0
66.0
100.0
32.8
67.2
100.0
31.5
68.5
100.0
31.4
68.6
75.9
35.3
40.6
24.1
3.4
20.6
72.4
32.3
40.1
27.6
3.3
24.3
75.0
34.7
40.3
25.0
3.9
21.1
69.0
28.6
40.4
31.0
4.2
26.8
63.5
25.3
38.2
36.5
6.2
30.3
61.9
24.7
37.2
38.1
6.7
31.4
80.0
64.9
15.1
20.0
11.1
8.9
78.1
59.9
18.2
21.9
12.5
9.4
75.5
55.8
19.7
24.5
14.7
9.8
75.7
54.7
21.0
24.3
14.2
10.1
78.9
52.3
26.6
21.1
11.2
9.9
77.9
50.2
27.7
22.1
11.6
10.4
65,860
92,854
58,694
34,160
51,762
39,745
12,017
20,602
87,200
115,700
74,500
41,200
68,000
51,000
17,000
25,837
124,800
165,200
104500
60700
97,500
74400
23100
32800
163,717
219,027
139,934
79,093
129,425
97,345
32,080
40,929
202,557
277,339
177,056
100,283
161,099
122,865
38,234
52,839
214,797
296,591
189,992
106,599
171,282
130,499
40,783
55,654
28.5
40.2
22.4
8.9
29.4
39.0
22.9
8.7
29.7
39.3
23.2
7.8
29.6
39.6
23.4
7.4
29.2
40.0
23.2
7.6
29.1
40.2
23.2
7.5
2005
2006
10.0
10.7
3.1
2.4
6.1
1.2
1.5
10.7
11.7
3.6
2.4
6.7
1.2
1.6
12.0
13.6
5.5
2.9
7.8
1.3
4.0
11.8
13.7
5.5
2.9
7.9
1.3
4.4
1/ Annual interest rates computed by compounding applicable monthly interest rates over relevant twelve
month period.
Lending rates
Working capital (short term)
Fixed capital (medium term)
Foreign currency loans (short term)
Deposit rates
Demand deposits, enterprises
Savings deposits (three-month), households
Foreign currency demand deposits
Foreign currency deposits (six-month)
2004
2003
11.8
13.7
5.7
2.9
7.9
1.5
4.6
2007
May
24
25
Table 22. Vietnam: Exchange Rate Developments, 200207
2002
2003
2004
2005
2006
2007
Jan-June
79.7
96.7
77.4
97.6
97.7
98.3
88.5
90.6
82.6
89.3
81.1
93.2
-4.4
-1.8
-9.4
-7.9
-6.7
-1.3
-1.8
4.3
-1.7
3.8
-4.1 1/
1.0 1/
15,368
15,244
20,941
19,785
15,608
15,479
23,249
21,695
15,739
15,705
24,502
23,281
15,875
15,819
22,748
23,429
16,091
15,965
24,152
23,604
16,131
16,106
24,448
24,259
-2.0
-3.1
-10.5
-5.5
-1.6
-1.5
-11.0
-9.7
-0.8
-1.5
-5.4
-7.3
-0.9
-0.7
7.2
-0.6
-1.4
-0.9
-6.2
-0.7
-0.2
-1.2
-1.2
-4.7
3/
1/
3/
1/
26
Table 23. Vietnam: Balance of Payments, 2002-06
2002
2003
2004
2005
2006
-676
-830
-1,935
-2,074
-1,565
-1,740
-497
-727
-164
-413
-1,054
16,706
3,270
17,760
2,017
-2,582
20,149
3,821
22,730
2,433
-2,287
26,485
5,676
28,772
3,574
-2,439
32,447
7,389
34,886
4,968
-2,776
39,826
8,265
42,602
5,970
-749
2,948
3,697
-778
3,272
4,050
-871
3,867
4,739
-219
4,176
4,395
-8
5,100
5,108
-794
167
961
-814
125
939
-891
188
1,079
-1,219
364
1,583
-1,429
668
2,098
1,921
1,767
154
2,239
2,100
139
2,485
2,310
175
3,380
3,150
230
4,049
3,800
249
1,071
4,086
2,447
2,628
4,486
2,023
1,882
141
414
1,894
1,294
600
590
1,878
1,283
595
536
1,954
1,204
750
524
2,400
1,605
795
643
458
1,102
1,073
644
974
1,540
1,258
566
1,396
1,920
1,394
523
1,360
1,914
1,432
555
1,139
1,687
1,380
548
--
--
865
1,313
-996
1,808
-291
-1,027
277
395
2,151
883
2,131
4,322
-464
-464
-2151
-2,151
-883
-883
-2,131
-2,131
-4,322
-4,322
3,692
7.2
-1.9
-5.5
11.2
22.1
12.9
23.8
35.0
8.6
5,619
8.7
-4.9
-8.4
20.6
28.0
21.5
28.9
33.7
7.8
6,314
8.4
-3.4
-8.0
31.4
26.6
27.4
24.1
33.5
6.0
8,557
9.4
-0.9
-5.5
22.5
21.2
20.4
18.7
32.2
5.6
11,483
10.4
-0.3
-4.0
22.7
22.1
26.0
22.4
30.2
5.3
Trade balance
Exports, f.o.b.
of which: oil
Imports, f.o.b.
of which: oil
Transfers (net)
Private
Official
Capital account balance
Portfolio Investment 2/
Short-term capital (net) 3/
Overall balance
Financing
Change in SBV's NFA (-, increase)
Memorandum items:
Gross official reserves
In weeks of next year's imports
Current account deficit (in percent of GDP)
Non-oil current account deficit (in percent of GDP)
Export value (ann. perc. change)
Import value (ann. perc. change)
Non-oil export value (ann. perc. change)
Non-oil import value (ann. perc. change)
External debt (in percent of GDP)
Debt service (in percent of exports of GNFS)
27
Table 24. Vietnam: Merchandise Exports by Commodity, 200206
2002
2003
2004
2005
2006
Est.
16,706
11.2
13,436
12.9
20,149
20.6
16,328
21.5
26,485
31.4
20,814
27.5
32,447
22.5
25,074
20.5
39,826
22.7
31,561
25.9
Crude oil
Volume ('000 tons)
Unit value (US$/ton)
3,270
16,876
194
3,821
17,143
223
5,671
19,501
291
7373
17967
410
8265
16419
503
Coal
Volume ('000 tons)
Unit value (US$/ton)
154
6,047
26
188
7,262
26
354
11,636
30
670
17,988
37
914.634
29307
31
Rubber
Volume ('000 tons)
Unit value (US$/ton)
271
455
595
378
432
874
596
513
1,162
804
554
1,451
1,286
708
1,817
Rice
Volume ('000 tons)
Unit value (US$/ton)
726
3,236
224
720
3,810
189
950
4,063
234
1,408
5,255
268
1,276
4,643
275
Coffee
Volume ('000 tons)
Unit value (US$/ton)
322
722
445
505
749
674
642
976
658
740
913
811
1,217
981
1,241
2,022
2,200
2,408
2,733
3,358
Garments
2,732
3,609
4,430
4,772
5,834
Footwear
1,875
2,261
2,691
3,039
3,592
Handicrafts
340
397
508
593
630
605
855
1,062
1,427
1,708
4,389
5,216
7,172
8,887
11,745
Other
19.6
0.9
1.6
4.3
1.9
12.1
16.4
11.2
2.0
3.6
26.3
19.0
0.9
1.9
3.6
2.5
10.9
17.9
11.2
2.0
4.2
25.9
21.4
1.3
2.3
3.6
2.4
9.1
16.7
10.2
1.9
4.0
27.1
22.7
2.1
2.5
4.3
2.3
8.4
14.7
9.4
1.8
4.4
27.4
20.8
2.3
3.2
3.2
3.1
8.4
14.6
9.0
1.6
4.3
29.5
28
Table 25. Vietnam: Merchandise Imports by Commodity, 200206
2002
2003
2004
2005
2006
Est.
19,746
21.8
25,256
27.9
31,969
26.6
36,761
15.0
44,891
22.1
2,023
9,970
203
2,441
9,936
246
3,572
11,048
323
5,024
11,478
438
5,970
11,212
532
Fertilizer
Volume ('000 tons)
Unit value (US$/ton)
478
3,820
125
631
4,135
153
759
4,065
187
651
2915
223
687
3,119
220
Insecticide
Volume ('000 tons)
Unit value (US$/ton)
116
...
...
116.1
...
...
143
...
...
168
305
1,334
4,946
270
1,695
4,623
367
2,553
5,152
496
2978
5495
542
2,936
5,707
514
Motorcycles
Volume ('000 unit)
Unit value (US$/unit)
423
1,480
286
329
...
...
452
...
...
541
...
...
557
262
29.4
8,911
275
21.4
12,863
360
25.0
14,420
335
21.3
15,735
213
12
17,045
Wheat flour
Volume ('000 tons)
Unit value (US$/ton)
11
62
184
10
52
187
10
48
209
9
39
221
9
38
228
273
...
...
317
...
...
384
...
...
400
...
...
544
339
Cotton
112
105
192
170
219
1,711
2,034
1,350
2282
1,951
...
...
...
3,793
5,359
5,249
5281
6,628
Other
9,210
11,944
16,945
18,922
25,415
10.2
2.4
0.6
6.8
2.1
1.3
...
1.4
0.6
8.7
...
19.2
46.6
9.7
2.5
0.5
6.7
1.3
1.1
...
1.3
0.4
8.1
...
21.2
47.3
11.2
2.4
0.4
8.0
1.4
1.1
...
1.2
0.6
4.2
...
16.4
53.0
13.7
1.8
0.5
8.1
1.5
0.9
...
1.1
0.5
6.2
...
14.4
51.5
13.3
1.5
0.7
6.5
1.2
0.5
...
1.2
0.5
4.3
...
14.8
56.6
29
Table 26. Vietnam: Direction of Trade, 200206
(In percent of total exports or imports)
2002
2003
2004
2005
2006
Prel.
Exports
Industrial countries or regions
Japan
Hong Kong SAR
Korea
Singapore
France
Germany
Italy
Netherlands
Switzerland
United Kingdom
Other Europe (industrialized) 1/
United States
Canada
Australia
New Zealand
68.2
14.6
2.0
2.8
5.8
2.6
4.4
1.6
2.4
0.4
3.4
4.6
14.7
0.8
8.0
0.1
71.0
14.4
1.8
2.4
5.1
2.5
4.2
1.6
2.4
0.4
3.7
4.7
19.5
0.9
7.1
0.1
68.6
13.4
1.4
2.3
5.6
2.1
4.0
1.4
2.2
0.5
3.8
4.7
19.0
1.0
7.1
0.2
66.4
13.4
1.1
2.0
5.9
2.0
3.3
1.4
2.0
0.3
2.4
4.5
18.3
1.1
8.4
0.1
67.9
13.1
1.1
2.1
4.1
2.0
3.6
1.6
2.2
0.4
3.0
4.6
19.7
1.1
9.2
0.1
Developing countries
China (mainland)
Indonesia
Malaysia
Philippines
Russia
Taiwan POC
Thailand
Other
31.8
9.1
2.0
2.1
1.9
1.1
4.9
1.4
9.4
29.0
9.3
2.3
2.3
1.7
0.8
3.7
1.7
7.3
31.4
10.9
1.7
2.4
1.9
0.8
3.4
2.0
8.3
23.5
10.0
1.4
3.2
2.6
0.8
2.9
2.7
10.1
32.1
7.6
2.4
3.0
2.0
1.0
2.4
2.3
11.3
Imports
Industrial countries or regions
Japan
Hong Kong SAR
Korea
Singapore
France
Germany
Italy
Netherlands
Switzerland
United Kingdom
Other Europe (industrialized) 1/
United States
Canada
Australia
New Zealand
55.6
12.7
4.1
11.5
12.8
1.5
2.8
1.4
0.6
0.7
0.8
2.2
2.3
0.3
1.4
0.3
54.8
11.8
3.9
10.4
11.4
1.6
2.4
1.5
1.3
1.2
0.9
2.2
4.5
0.3
1.1
0.4
52.3
11.1
3.4
10.5
11.3
1.9
2.2
1.0
0.6
2.1
0.7
1.8
3.5
0.3
1.4
0.3
50.2
11.1
3.4
9.8
12.2
1.2
1.8
0.8
0.8
2.4
0.5
1.7
2.3
0.5
1.4
0.3
51.4
10.5
3.2
8.6
14.0
0.9
2.0
0.7
0.8
3.0
0.4
1.7
2.2
0.4
2.4
0.4
44.4
10.9
1.8
3.5
0.5
2.5
12.8
4.8
7.5
45.2
12.4
2.2
3.7
0.6
1.9
11.5
5.1
7.8
47.7
14.4
2.1
3.8
0.6
2.1
11.6
5.8
7.4
49.8
16.0
1.9
3.4
0.6
2.1
11.7
6.5
7.6
48.6
16.5
2.3
3.3
0.8
1.0
10.7
6.8
7.3
19.8
9.5
19.9
10.2
18.8
8.4
15.0
7.0
17.8
7.0
14.6
24.2
14.7
23.6
15.3
24.3
15.6
25.4
16.0
27.9
Developing countries
China (mainland)
Indonesia
Malaysia
Philippines
Russia
Taiwan POC
Thailand
Other
Memorandum items:
European Union
Exports
Imports
ASEAN
Exports
Imports
30
Table 27. Vietnam: Commitments of Foreign Direct Investment, 2002-06 1/
2002
2003
2004
2005
2006
4,510
2,895
40
1,285
290
20
174
709
601
124
477
393
427
6,835
7,842
6,034
56
1,562
190
107
327
615
526
865
600
408
715
12,004
66.0
42.4
0.6
18.8
4.2
0.3
2.5
10.4
8.8
1.8
7.0
5.8
6.2
100.0
65.3
50.3
0.5
13.0
1.6
0.9
2.7
5.1
4.4
7.2
5.0
3.4
6.0
100.0
2,043
868
71
774
330
45
192
78
236
218
19
264
134
2,993
2,235
854
18
1,190
173
16
101
19
315
185
130
298
189
3,172
2,741
1,584
41
943
173
12
481
78
467
257
210
537
219
4,534
(In percent of total)
Industry
Heavy industries
Export processing zones
Light industries
Food
Oil and gas
Construction
Transportation and communications
Real estate
Hotels and tourism
Office property and apartments
Agriculture, forestry, and fisheries
Services
Total
68.3
29.0
2.4
25.9
11.0
1.5
6.4
2.6
7.9
7.3
0.6
8.8
4.5
100.0
70.5
26.9
0.6
37.5
5.4
0.5
3.2
0.6
9.9
5.8
4.1
9.4
6.0
100.0
60.5
34.9
0.9
20.8
3.8
0.3
10.6
1.7
10.3
5.7
4.6
11.8
4.8
100.0
31
Table 28. Vietnam: Public Sector Debt, 200306 1/
2003
2004
2005
Prel.
2006
Prel.
251,727
305,383
368,027
421,763
84,134
110,152
145,424
180,227
42,795
12,118
30,677
50,649
14,220
36,429
63,019
17,886
45,133
74,762
...
...
Disbursements
maturity less than 1 year
maturity greater than 1 year
22,895
12,118
10,777
27,452
14,222
13,230
33,250
17,886
15,364
36,000
17,514
18,486
Amortization
maturity less than 1 year
maturity greater than 1 year
14,828
6,089
8,739
19,596
12,118
7,478
20,050
14,220
5,830
26,910
17,886
9,024
Interest
maturity less than 1 year
maturity greater than 1 year
2,189
475
1,714
4,056
957
3,099
5,440
1,150
4,290
6,050
1,034
5,016
23,890
2,579
8,050
5,020
1,800
...
...
...
...
32,800
2,579
9,540
10,220
4,364
...
...
...
...
38,801
5,395
9,540
20,805
7,864
600
200
200
200
49,013
5,395
9,540
31,153
10,364
600
200
200
200
167,593
156,202
9,644
9,514
130
1,747
195,232
175,421
17,475
17,345
130
2,336
222,604
203,854
15,941
15,811
130
2,808
241,536
220,511
17,154
17,024
130
3,871
Domestic debt
T-bills and bonds
maturity less than 1 year
maturity greater than 1 year
32
Table 29. Vietnam: External Debt and Debt Service, 200306 1/
(In million o f U.S. dollars)
2003
2004
2005
2006
Prel.
A. External Debt
Total External Debt
Public and publicly guaranteed 2/
Private
13,535
11,001
2,534
15,266
12,273
2,993
16,833
13,719
3,114
18,330
14,831
3,499
13,346
10,888
10,091
4,151
5,459
509
797
2,458
15,018
12,124
11,159
4,618
6,044
498
965
2,894
16,537
13,541
12,632
5,204
6,210
1,218
909
2,996
18,150
14,831
13,803
5,843
6,771
1,189
1,028
3,319
188
113
...
113
75
248
149
...
149
99
296
178
...
178
118
180
180
1,764
1,477
287
1,858
1,441
417
1,952
1,513
439
1,814
1,270
544
699
489
210
771
447
324
722
431
291
824
466
358
629
435
194
522
227
295
555
310
245
654
360
294
Amortization
1,477
1,441
1,513
1,270
1,115
518
435
83
597
899
353
227
126
546
1,027
477
310
167
550
1,297
493
330
163
804
287
417
439
543
Short-term
Public and publicly guaranteed
Public
Publicly guaranteed
Private
B. External Debt Service
Total External Debt Service
Amortization 4/
Interest
Interest
6,519
Total
100.0
31.8
0.0
2.4
5.5
10.8
0.1
8.8
0.0
1.2
0.0
7.9
0.0
10.4
0.0
10.5
0.0
9.2
0.1
0.0
0.0
1.0
0.1
0.0
Total
0
0.5
1
3
5
7
10
12
15
18
20
25
30
35
40
45
50
60
70
80
100
120
150
10,689
3,087
0
196
614
1,110
1
1,047
0
177
0
855
121
1,164
0
985
0
1,001
25
0
3
291
0
12
100.0
28.9
0.0
1.8
5.7
10.4
0.0
9.8
0.0
1.7
0.0
8.0
1.1
10.9
0.0
9.2
0.0
9.4
0.2
0.0
0.0
2.7
0.0
0.1
Rates in 2003
Bands Number of lines:
number percent
Total
0
0.5
1
3
5
7
10
12
15
18
20
25
30
35
40
45
50
60
70
80
100
120
150
10,689
3,087
0
196
614
1,110
1
1,047
0
177
0
855
121
1,164
0
985
0
1,001
25
0
3
291
0
12
100.0
28.9
0.0
1.8
5.7
10.4
0.0
9.8
0.0
1.7
0.0
8.0
1.1
10.9
0.0
9.2
0.0
9.4
0.2
0.0
0.0
2.7
0.0
0.1
Rates in 2004
Bands Number of lines:
number percent
Total
0
0.5
1
3
5
7
10
12
15
18
20
25
30
35
40
45
50
60
70
80
100
120
150
10,689
3,087
0
196
614
1,110
1
1,047
0
177
0
855
121
1,164
0
985
0
1,001
25
0
3
291
0
12
100.0
28.9
0.0
1.8
5.7
10.4
0.0
9.8
0.0
1.7
0.0
8.0
1.1
10.9
0.0
9.2
0.0
9.4
0.2
0.0
0.0
2.7
0.0
0.1
Rates in 2005
Bands Number of lines:
number percent
Total
0
0.5
1
3
5
7
10
12
15
18
20
25
30
35
40
45
50
60
70
80
90
100
150
11,029
3,268
6
177
676
1,215
23
1,164
10
280
0
859
136
1,053
7
1,039
7
771
26
0
16
240
6
50
100.0
29.6
0.1
1.6
6.1
11.0
0.2
10.6
0.1
2.5
0.0
7.8
1.2
9.5
0.1
9.4
0.1
7.0
0.2
0.0
0.1
2.2
0.1
0.5
0
0.5
1
3
5
7
10
12
15
18
20
25
30
35
40
45
50
60
70
80
90
100
120
150
Total
3,270
6
177
688
1,336
23
1,187
531
329
8
1,115
219
1,062
180
466
38
92
22
165
15
173
62
6
55
11,225
29.1
0.1
1.6
6.1
11.9
0.2
10.6
4.7
2.9
0.1
9.9
2.0
9.5
1.6
4.2
0.3
0.8
0.2
1.5
0.1
1.5
0.6
0.1
0.5
100
Rates in 2006 3/
Rates in 2007
Bands Number of lines: Bands Numbers of lines
number percent
number
percent
1/ The normal tariff rates are termed preferential in the official schedule. There are also nonpreferential tariff rates about 50 percent higher than these rates, which are applied to imports
from countries without a trade agreement (or not in the process of negotiating one).
2/ Effective September 1, 2003.
3/ Effective September 15, 2006.
4/ Effective as of August 2007.
2,076
0
159
360
701
4
576
3
79
2
512
3
679
1
683
2
602
5
0
2
62
8
0
0
0.5
1
3
5
7
10
12
15
18
20
25
30
35
40
45
50
60
70
80
100
120
150
Rates in 2002
Bands Number of lines:
number percent
33
36.0
3.2
6.4
19.6
0.1
11.0
3.1
20.8
100.0
2,002
177
355
1,092
3
610
171
1,158
5,568
10,143
3,257
239
607
3,372
89
125
2,454
100.0
32.1
2.4
6.0
33.2
0.9
1.2
24.2
0
1
3
5
10
15
20
10,162
3,258
241
603
3,396
130
2,131
403
0
1
3
5
10
15
20
100.2
32.1
2.4
5.9
33.4
1.3
21.0
4.0
Rates in 2003
Rates in 2004
Bands Number of lines: Bands Number of lines:
number percent
number percent
0
1
3
5
7
10
15
20
Rates in 2002
Bands Number of lines:
number percent
0
1
3
5
10
15
20
50
Bands
10,277
3277
241
603
4375
1352
32
378
19
100
31.9
2.3
5.9
42.6
13.2
0.3
3.7
0.2
Rates in 2005
Number of lines:
number percent
0
1
3
5
10
15
20
30
40
50
5,478
4
150
4,651
2
24
1
13
19
10,342
53.0
0.0
1.5
45.0
0.0
0.0
0.2
0.0
0.1
0.2
100
0
1
3
5
10
15
20
30
40
50
5472
4
90
4474
11
0
13
5
28
0
10,097
54.19
0.04
0.89
44.31
0.11
0.13
0.05
0.28
100
Rates in 2007
Rates in 2006
Bands Number of lines: Bands Number of lines
number percent
number
percent
Table 31. Vietnam: Common Effective Preferential Tariff (CEPT) Rates, 200207 1/
34
Regular income
Salaries, wages and remuneration, including
overtime income, nightshift, and thirteenth
month salary (if any); allowances; subsidies
received from social insurance funds in
substitution of salaries; and allowances for
lunch and mid-shift meals (if received in
cash).
1.
a)
Exempt income
Interest from bank deposits, bank savings and
loans; interest from bonds, dividend income from
shares; and income from investment in securities,
and gains on the purchases and sales of
securities.
Toxic and dangerous allowances for type of work
under toxic or dangerous labor conditions; regional
allowances, incentive allowances and special
allowances for work in remote or unfrequented
areas, areas with harsh climate, new economic
zones, offshore islands and border areas with
difficult conditions (excluding expatriate
allowances for foreigners); seniority allowance for
armed forces, customs and important forces;
mobile allowance for types of work which require a
regular change of working place and residence;
responsibility and position allowances for civil
servants and officials.
Per diem for business trips (capped by different
rates of cash income for domestic trips and
overseas trips).
Fixed cost of meals for specific types of work;
subsidies and compensation for sick and wounded
soldiers, and victims of labor accidents; insurance
compensation payments for personal and property
insurance policies.
Termination and severance allowances in
accordance with labor regulations.
Relocation costs (one-off) of workers.
Prizes for technical innovations and inventions,
international awards, and national awards
organized or recognized by the State of Vietnam.
Income of family businesses and individuals who
are subject to Corporate Income Tax.
a)
Marginal rate
0%
10%
20%
30%
40%
Marginal rate
0%
10%
20%
30%
40%
For non-resident foreigners who stay in
Vietnam less than 183 days in the tax year,
a flat rate of 25% is applied on the Vietnamsourced income.
Rates
35
Irregular Income
Income from technology transfer (except gifts
or donation); and
Residency rules
Non-tax resident: A foreigner is considered
non-tax resident in Vietnam if he/or she stays
in Vietnam for less than 183 days during a tax
year. In this circumstance, a foreigner is only
taxed at 25% on his/or her Vietnamesesourced income. The Vietnamese-sourced
income means all income related to his/or her
service in Vietnam, irrespective of the location
b)
c)
Allowable deductions:
b)
Rates
36
a)
Rates
Royalties/Technology transfer/Interest/fees
for lease of machinery and equipment: 10%
(VAT exempt and 10% CIT)
Other business or production activities
(where contract value is not separated by
the activities): 4.5% (2.5% VAT and 2%
CIT)
37
b)
a)
1
2
3
4
5
Grade
0%
10%
15%
20%
25%
Rate
Rates
38
c)
b)
subsequent years.
Rates
b)
c)
d)
a)
b)
a)
39
Export:
Compliance:
Rates
certain pharmaceutical chemical products,
medicines, materials used to produce
preventive and curative medicines; certain
printing products except printing of money;
books of all types except VAT exempt
books ; magnetic tapes, disks; not-yet
processed agricultural products; sugar and
by-products of sugar production including
sugar sediment and residue; products
made from jute, sedge, bamboo and thatch;
semi-processed cotton; feed for cattle,
poultry and other domesticated animals;
technological and scientific services;
services directly serving agricultural
production; coal of all types, stone, sand,
gravel.
Certain basic chemicals; mechanical
products (except for consumption
mechanical products); moulds of all types;
explosive materials; grindstones; newsprint;
pressurized spray canisters; rubber latex in
semi-processed form; colophony in semiprocessed form; artificial hard board;
industrial concrete products as bridge beam
and house frames, concrete pillars,
concrete high- tension poles, concrete
culvert pipeline, concrete boxes of all types,
panel and non- standardized prefabricated
building components, concrete products;
tire and sets of tires and tubes of size 90020 or more; neutral glass tubes; net, rope
and fiber for weaving fishing net.
Products from metallurgy, rolling and
drawing of ferrous, non- ferrous and
precious metals, except for imported gold.
Automatic data processing machines and
their parts and components.
Maintenance, repair and restoration of
historical or cultural relics, museums; repair
of machines, equipment and means of
transportation; transportation, loading and
40
c)
Rates
41
5.
Rates
Cigarettes
Spirits from 40% and above
Spirits from 20% to below 40%
Spirits below 20%
Canned and bottled beer
Draught beer
Automobiles of 5 seats or less
Automobiles of 6 seats to 15
seats
Rates of SCT
Goods and Services
Cigars
55%
65%
30%
20%
75%
30%
50%
30%
SCT rates
65%
42
a)
Import Duty
Import taxable price is the actual price
payable at the first import border gate and
determined by one of 6 methods pursuant to
the contract, consistent with international
undertakings.
Rates
15%
25%
25%
10%
30%
40%
70%
10%
15%
15%
Automobiles of 16 seats to
under 24 seats
Air conditioner from 90,000
BTU or less
Assorted types of petrol,
naphtha, reformat components
and other used to mix in petrol
Playing card
Votive paper
Services
Dancing halls, massage
lounges , karaoke
Casino, jackpot
Operating betting entertainment
Golf course membership and
tickets
Lotteries
43
Rates
44
employees;
Components, details, separate sections,
spare parts, fittings, moulds and accessories
accompanying the equipment, machinery and
specialized means of transportation,
d) Raw materials and materials used to
implement projects and their operations.
First time import of certain equipment and goods
stipulated by Decree 149/2005/ND-CP to form
fixed assets of encouraged investment or ODAfunded investment in hotels, offices, apartments
for lease, residential housing, commercial centers,
technical services, supermarkets, golf courses,
tourist resorts, sporting resorts, entertainment
areas, medical diagnosis and treatment
establishments, and entities providing training,
cultural, financial, banking, insurance, auditing,
and consultancy services.
Goods imported in order to support petroleum
operations, comprising:
a) Equipment, machinery, replacement
accessories and specialized means of
transportation which are essential for
petroleum operations;
b) Materials which are essential for petroleum
operations and which cannot yet be produced
domestically.
Shipbuilding enterprises are exempted from export
duty for ship products and import duty for imported
machines, equipment to form fixed assets as
defined Ministry of Science and Technology;
materials, semi-products that cannot produced
domestically.
Imported materials for software development.
Goods which are imported for direct use in
scientific research and development of technology,
including machinery, equipment, accessories,
c)
45
Export duty
Crude oil
Wood and wood products
Cashew nuts
Ores
Coal, lignite, peat, coke
b)
Rates
46
quality
location
weather
9.
Slaughter Tax
Based on market value of slaughtered buffaloes,
cows and pigs
10.
Tax for Use of Agricultural Land
Based on area and category of agricultural land,
the tax rate is calculated in paddy.
8. License Tax
Annual license tax for all enterprises (the Decree
75/2002/ND-CP dated 30 August 2002 and
various Circulars of the MOF)
7.
a)
b)
Rates
1
2
3
4
5
Category of land
Annual crops
Tax (kg paddy/
hectare)
550
460
370
280
180
47
11.
Land and housing tax
Ordinance on Residential HousingLand Tax
d)
Exemptions are:
10.2. Exemptions according to Decree 129/2003/NDCP dated 3 November 2003 (effective during 2003-10)
on the exemption from agricultural tax
c)
Rates
Tax ( kg
paddy/hectare)
650
550
400
200
80
50
1
2
3
4
5
Category of land
48
12.
Land Use Charge
Decree 198/2004/ND-CP dated December 3, 2004
and Circular 117/2004/TT-BTC dated December 7,
2004.
Exemptions :
Rates
and towns: tax rate is between 3 times and
32 times of the highest level of agricultural
tax recorded in the same region.
Land used for buildings/housing in the
suburb of cities and towns and beside
highways or main roads: tax rate is
between 1.5 times and 2.5 times of the
highest level of agricultural tax recorded in
the same region.
Land used for buildings/ housing in the rural
and mountain areas: tax rate is 1 equal to
the highest level of agricultural tax recorded
in the same region.
49
13.
Land Use Right Transfer Tax
Based on the transfer of land use right.
Reduction:
Rates
Up to 15%
More than 15% to 30%
More than 30% to 45%
More than 45% to 60%
More than 60%
0%
10%
15%
20%
25%
Tax
Rate
Households/ individuals:
50
15.
Fess and Tolls
Ordinance on Fees and Tolls No 38/2001/PLUBTVQH10 dated 28 August 2001, Decree
57/2002/ND-CP dated June 3, 2002 and Decree
24/2006/ND-CP of March 6, 2006 amending
Decree 57.
14,
Registration Fees
Assets of organizations and individuals in the
groups that have to register the ownership and
user-rights are subject to registration fees (Decree
47/2003/ND-CP dated 12 May 2003).
Rates
Industry, construction
Trade, investment
Transportation
Etc.
Tolls are levied in the following fields, inter alia:
Immigration
Asset registration
Business registration
Etc.
- 51 -