“Growth” of Vietnam’s economic scale approaching that of Japan

15 Apr

By: B&Company Vietnam

Industry Reviews / News, Press Release

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In 2010, Vietnam’s GDP was one-38th of Japan’s. By 2020, it was about 14 times higher, and by 2022, it will be closer to 12 times higher. This time, we decided to compare this in terms of “growth”. This is because “how new demand will be created” is often more important when companies consider their future activities.

Looking at real GDP, Vietnam has shown steady growth between 2010 and 2022, with annual fluctuations, while Japan’s growth has been more uneven. In addition to Corona, Japan was negative in U.S. dollar terms three times, including in 2020 when the yen weakened. As a result, over the 12-year period, Japan’s growth was about 499 billion USD while Vietnam’s was about 296 billion USD, about 60% of Japan’s, or the same order of magnitude in terms of “growth”. About 23% of this GDP “growth” came from FDI firms. Although foreign investment by enterprises is not aimed at adding value, it does represent a certain level of results in terms of the transfer of business activities.

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