Vietnam is reasonably endowed with mineral resources including many that not been developed. Vietnam's main natural resources consist of coal, phosphates, rare earth elements, bauxite, chromate, copper, gold, iron, manganese, silver, zinc, offshore oil and gas deposits, timber, hydropower .
Rice is the most important crop. It is grown principally in the Red and Mekong river deltas. Other major food crops are sugarcane, cassava (manioc), corn (maize), sweet potatoes, and nuts. Agriculture is highly labour-intensive in Vietnam, and much plowing is still done by water buffalo.
Vietnam's key mineral endowment includes: coal, bauxite, rare earth, tungsten, titanium, phosphate rocks and iron ore. Coal remains one of the primary energy sources for the domestic market.
Vietnam's main industries are: textiles, food, furniture, plastics and paper as well as tourism and telecommunications. Agriculture represented 14.8 percent of GDP and employed 38 percent of the total workforce in 2021, according to the World Bank. What are the major imports of Vietnam?
Rubber trees in Vietnam. Located in Southeast Asia, the Socialist Republic of Vietnam has an abundant wealth of natural resources including coal, bauxite, oil and gas deposits, copper, hydropower, and timber.
Water, air, and soil are three natural resources that we cannot live without. The Forest Service strives to protect, maintain, and restore these valuable assets now and into the future. Water is one of the most important natural resources flowing from forests.
Being one of the most prized export commodities, coal is among Vietnam's most essential natural resources.
Vietnam is famous for several things, from ancient towns, UNESCO heritage sites, and serene beaches to scrumptious Pho and a different kinds of coffee. Choose which places you want to explore and start planning for your getaway.
Vietnam's shift from a centrally planned to a market economy has transformed the country from one of the poorest in the world into a lower middle-income country. Vietnam now is one of the most dynamic emerging countries in East Asia region.
Industry and Trade
The agriculture, industry, and services sectors are the pillars of Vietnam's economy. It is dominated by large state-owned companies, including textiles, plastics, food, furniture, paper, tourism, and telecommunications.
Vietnam is ranked 25th of the countries that have proven oil and gas reserves (Source: BP Statistical Review of World Energy, 2017). At the end of 2016: The total proven oil reserve of Vietnam was 4,400 million barrels, amongst the highest in Southeast Asia.
One of the main mining areas of Vietnam is the Bong Mieu gold mine.
Exports The top exports of Vietnam are Broadcasting Equipment ($51.1B), Telephones ($25.3B), Integrated Circuits ($18.2B), Office Machine Parts ($11.7B), and Textile Footwear ($9.79B), exporting mostly to United States ($99.3B), China ($57.8B), South Korea ($22.6B), Japan ($21.3B), and Hong Kong ($12.5B).
What is minimum wage in Vietnam? Minimum Wages in Vietnam remained unchanged at 4680 VND Thou/Month (197.513 USD/Month) in 2023. The maximum rate of minimum wage for employees was 4420 VND Thou/Month and minimum was 1000 VND Thou/Month.
Vietnam's trade with largest partners in 2022
Data from the General Department of Customs shows in 2022, China is Vietnam's largest trading partner with a total two-way trade turnover of 175.57 billion USD, followed by the US (123.86 billion USD), the Republic of Korea (86.38 billion USD) and Japan (47.61 billion USD).
Australia has plentiful supplies of natural resources, including the second largest accessible reserves of iron ore in the world, the fifth largest reserves of coal and significant gas resources. For a long time, commodities have made up a sizeable share of our exports.
Australia is considered a wealthy nation with a market-based economy that has a comparatively high gross domestic product and per capita income. Its economy is driven by the service sector and the export of commodities. [Explore the top universities in Australia.]
Sectors such as manufacturing and financial services are making many people incredibly wealthy, and even global luxury brands have noticed. A familiar story in Vietnam is the person who leaves their small town to find work in one of the urban areas, hoping to join the upwardly mobile middle class.
Vietnam is a multiethnic country with 54 ethnic groups recognized by the government. Each ethnic group has its own language and culture. The Vietnamese (Kinh) people account for roughly 86% of the country's population and mainly reside in deltas and coastal provinces.
There Are 8 UNESCO Sites In The Country
There are 8 UNESCO sites in Vietnam, which makes it one of the most popular and interesting facts about Vietnam. These sites include Thang Long Imperial Citadel, Halong Bay, The Ho Dynasty Citadel, Hoi An Ancient Town, and many others.
In 2022, phones and the related components exports had the largest value amongst Vietnam's major commodities exports, at approximately 59.3 billion U.S. dollars. Meanwhile, electronics, computers and components contributed over 55 billion U.S. dollars to total export earnings that year.
Vietnam exports electrical machinery and equipment, under HS Code 85, the most to the world. Vietnam is also the biggest supplier of footwear, gaiters, machinery, nuclear reactors and boilers. The country's top 10 exports accounted for 73.4% of the overall value of its global shipments.