What are some natural resources found in Vietnam?
Vietnam is well endowed with a wide variety of mineral resources. Among the most important mineral resources are phosphates, bauxites, oil, coal, gold, copper, zinc, tin, chromite, manganese, and titanium. Some metallic minerals, such as copper, zinc, tin, and gold, have been mined since the Bronze age.
What resources does Vietnam import?
Machinery, petroleum products, iron, steel, garments, and leather account for the bulk of Vietnam’s imports. Most of these products fuel the country’s expanding industrial sector.
What is the main source of income in Vietnam?
Vietnam’s economy is based on large state-owned industries such as textiles, food, furniture, plastics and paper as well as tourism and telecommunications. Agriculture represented 14% of GDP and employs 36% of the total workforce in 2020 (World Bank).
How does Vietnam make money?
Vietnam has emerged as an important electronics exporter, with electrical and electronic products overtaking coffee, textiles, and rice to become the country’s top export item. Samsung is Vietnam’s largest exporter and has helped the country achieve a trade surplus for the first time in many years.
What is Vietnam’s largest export?
Exports The top exports of Vietnam are Broadcasting Equipment ($42.3B), Telephones ($18.2B), Integrated Circuits ($15.5B), Textile Footwear ($10.6B), and Leather Footwear ($6.43B), exporting mostly to United States ($63.7B), China ($40.3B), Japan ($21.2B), South Korea ($20.3B), and Germany ($8.22B).
What are the major imports of Vietnam?
Vietnam main imports are computers, electrical products and parts (18 percent of total imports) and machine, instruments and accessories (16 percent). Others include: telephones, mobile phones and parts thereof (8 percent); textile fabrics (5 percent) and iron and steel (4 percent).
What are the main occupations in Vietnam?
Economy of Vietnam
|Unemployment||3.3% (2020 est.) 6.9% youth unemployment (15 to 24 year-olds; 2019)|
|Main industries||Electronics, machinery, steel, food processing, wood industry, textile, footwear, vehicle, rice, coffee, cashews, seafood, vegetable and tourism|
|Ease-of-doing-business rank||70th (easy, 2017)|
Is Vietnam richer than Thailand?
Thailand with a GDP of $505B ranked the 26th largest economy in the world, while Vietnam ranked 47th with $245.2B. By GDP 5-years average growth and GDP per capita, Thailand and Vietnam ranked 86th vs 17th and 89th vs 138th, respectively.
Is Vietnam poorer than Philippines?
From being one of Asia’s poorest nations, the average Vietnamese is now wealthier than the average Filipino. … Vietnam adopted a policy of rapid industrialization while the Philippines relied on its population to drive growth.