Distribution of gross domestic product (GDP) across economic sectors Vietnam 2022

In 2022, Vietnam’s service sector contributed the largest percentage to the country’s gross domestic product (GDP), at 41.34 percent. The service sector consists of the production of intangible goods to businesses and final consumers. Approximately 38.26 percent of the Vietnamese population works in the service sector.

A young, working population

About 69 percent of Vietnam’s 94 million inhabitants are part of the workforce, or between 15 to 64 years. The country’s workforce has a low unemployment rate of around 1.8 percent, and it is considered a strong regional economic leader, with a yearly economic growth rate of between 6 and 7 percent.

Changes in Vietnam’s economy

Vietnam’s economy has experienced several drastic shifts over the course of the country’s history, most recently during and following the events of the Indochina Wars: when the North and South were divided politically in the 1950’s, each adopted different economic ideologies, with a communist economy in the North and a capitalist economy in the South. After the country was reunified in 1975, the economy was joined into a socialist-oriented market economy, which has enacted several five-year plans and economic renewal campaigns in order to grow its national economy.