In 2020, the industry sector contributed over 1,732 trillion Vietnamese dong to the gross domestic product (GDP) of Vietnam, the largest contribution among all sectors. The manufacturing sector had the second-largest GDP contribution, followed by wholesales and retail trade, vehicles and motorcycles repairs.
What is Vietnam’s main economic sector?
Main Sectors of Industry
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).
Which sector is the biggest contributor to country’s economic growth?
The services sector accounted for the highest share to GDP at 58.9 percent, followed by the industry sector (33.3 percent), and agriculture sector (7.5 percent). Manufacturing accounted for 69 percent of the total output of industry.
What is Vietnam’s biggest 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).
Is Vietnam still communist?
Government of Vietnam
The Socialist Republic of Vietnam is a one-party state. A new state constitution was approved in April 1992, replacing the 1975 version. The central role of the Communist Party was reasserted in all organs of government, politics and society.
Which companies contribute most to GDP?
Private companies contribute 87% of the annual GDP, and Government 13%. The most important industry groups are: Manufacturing, 12% Finance, insurance, real estate, rental, and leasing, 20%
Which industry has the highest growth rate?
The 10 Fastest Growing Industries in the US
- International Airlines in the US. 61.3%
- Hotels & Motels in the US. 57.8%
- Casino Hotels in the US. 57.8%
- Movie Theaters in the US. 56.3%
- Non-Hotel Casinos in the US. 53.3%
- Tour Operators in the US. 52.4%
- Domestic Airlines in the US. 50.0%
- Travel Agencies in the US. 48.3%
Which industry in the Philippines offers the most opportunities?
Top Industries in the Philippines to Invest in this 2021
- Real Estate Industry. Real Estate remains a flourishing industry. …
- Construction Industry. …
- E-Commerce Industry. …
- Tourism Industry. …
- Manufacturing Industry. …
- IT, BPO, and Business Services. …
- Retail Industry. …
- Energy Industry.