Vietnam Economy: Productivity 2018

1 April 2019 | General Statistics Office, in January 2019, reveals that productivity of Vietnam economy is VND102 million/labor (current price) or US$4,512/labor, representing an increase of VND8.8 million/labor (or US$346/labor). (Bao Moi, 12 January 2019)

The pace of productivity growth of Vietnam’s economy is the highest in ASEAN. In the ten years of 2008-2018, productivity (PPP2011) of Vietnam increases 4% per annum, higher than that of Singapore (0.9% per annum), Malaysia (1.1% per annum), Thailand (2.6% per annum), the Philippines (3.3% per annum), and Indonesia (3.4% per annum). However, GSO notices that PPP2011 productivity of Vietnam’s economy is just US$10,232 which is equal to 7.2% of Singapore, 18.4% of Malaysia, 36.2% of Thailand, 55% of the Philippines, and 43% of Indonesia. In other words, productivity of Vietnam is way below those of ASEAN neighbors.

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