VIETNAM’S

ECONOMY IN
2020-2021
INTRODUCTION
• 2020 - 2021: full of difficulties and
challenges for economy.

• By the end of 2020: Vietnam has

accomplished the "dual goal" in the
prevention of Covid-19 and
maintaining economic growth.
 FOUR INDICATORS

UNEMPLOYMENT BALANCE OF
RATE TRADE

GDP CPI

02 04

01 03
01.
Gross Domestic
Product (GPD)
There is an decreasing in GDP growth rate
in 2021 comparing to the year of 2020.
 1.1. GDP of Vietnam
in 2020

• The agriculture, forestry and fishery

sector increased by 2.68%,
contributing 13.5% to the growth
rate.
• The industry, construction sector
increased by 3.98%, contributing
53%; service sector increased by
2.34%, contributing 33.5%. in
general

Chart 1 1. GDP growth rate in the quarters of 2020 and in

2020
1.1. GDP of Vietnam
in 2020

• Was worth 271.16 billion US dollars

in 2020.
• The GDP value of Vietnam
represents 0.24 percent of the world
economy
• Effectively implement the goal of
"both disease prevention and socio-
economic development"

Chart 1 1. GDP growth rate in the quarters of 2020 and in

2020
 • In the 4th quarter, the economy grew by
1.2. GDP of Vietnam in 5.22%, higher than the growth rate of the
2021 same period last year.

• Vietnam's GDP
increased by
2.58%, lower than
the rate of 2.91%
in 2020 and also
the lowest increase
in the recent
decade.
 • The agriculture, forestry and fishery
1.2. GDP of Vietnam in sector increased by 2.9%, contributing
2021 13.97% to the growth rate

• The industry and

construction sector
increased by 4.05%,
contributing 63.80%;
the service sector
increased by 1.22%,
contributing 22.23%.
02.
Unemployment Rate

Reflects the inability of the economy to generate jobs for people who want to
work but do not, despite being available for employment and actively seeking
work
 2.1. Unemployment Rate
in 2020
More than 1.2 million unemployed workers
aged 15 and over
• 2.9% of unemployed workers are in urban
areas (equivalent to 652.8 thousand
people)
• Unemployed youth (15-24 years old) still
accounts for more than a part of the
unemployed population (35.4%).
(General Statistics Office , 2020)

Table 1. Unemployment Rate by ages, urban/rural location and

gender in 2020
 2.1. Unemployment Rate in 2020

Table 2. Urban Unemployment Rate by ages and gender in 2020

Pulled many into unemployment and Number of workers affected
become the main cause of the increase in Services: more than 70%
Unemployment Rate Industry, construction: 2/3 of workers

4th quarter of 2020: working people

In the countryside: decrease by 854.3 thousand
amounted to nearly 54 million, decreased by 945
In cities : decrease by 90.2 thousand
thousand compared to the same period of 2019
 2.1. Unemployment Rate
in 2020

Chart 2 1. Unemployment Rate in each quarter in the period of 2019-2021 in urban areas
and countryside
2.2. Unemployment
Rate in 2021

• The number of unemployed people of

working age: more than 1.4 million, an
increase of 203.7 thousand people compared
to the previous year.
• The Unemployment Rate in working age
was 3.22%, up 0.54 percentage points over
the previous year.
2.2. Unemployment Rate in
2021

Chart 2 2. Unemployment Rate and number of unemployed people in

working age period 2020 – 2021
2.2. Unemployment
Rate in 2021

FIRST QUARTER SECOND QUARTER

• 971.4 thousand people • Nearly 1.2 million people

underemployed
• An increase of 143.2 thousand people
compared to the previous quarter and an
increase of 78.7 thousand people over the
same period last year
underemployed
• An increase of 87.1 thousand people
compared to the previous quarter and a
decrease of 82.1 thousand people
compared to the same period last year.
2.2. Unemployment
Rate in 2021
THIRD QUARTER
• More than 1.7 million people
underemployed
• An increase of 532.2 thousand people
compared to the previous quarter and an
increase of 449.6 thousand people
compared to the same period last year.
FOURTH QUARTER
• More than 1.6 million people
underemployed
• A decrease of 113.1 thousand people
compared to the previous quarter and an
increase of 369.2 thousand people
compared to the same period last year.
 03.
Consumer Price Index
(CPI)
The Consumer Price Index (CPI) is a
measure that examines the weighted average
of prices of a basket of consumer goods and
services
3.1. CPI of Vietnam in 2020

Chart 3 1. CPI through each month of 2020

3.1.
CPI of Vietnam in
2020

• CPI rose 3.23% against the previous year,

which is below the target of 4% set by the
National Assembly
• The upward trend of prices was restrained
by a steep 23.03% decline in fuel prices and
the demand for travel and tourism also fell
by 6.24%.
• The cost of medicine and medical equipment
climbed by 1.35%
• Core inflation in December 2020 increased by
0.07% over the previous month and by 0.99%
over the same period last year.
3.2. CPI of Vietnam in 2021

Chart 3 2. CPI through each month of 2021

3.2.
CPI of Vietnam in
2021

• Edged up 1.84% year-on-year, the lowest

ever recorded since 2016, according to the
General Statistics Office (GSO). • “This is an achievement in controlling
inflation. Stabilizing prices means supporting
• CPI had also a great impact on the core
businesses and people to have better conditions
inflation, it grew by 0.81 percent in 2021,
to maintain their lives and businesses,” said Dr.
the lowest since 2011, the GSO director
Tran Thi Hong Minh affirmed.
said.
3.2.
CPI of Vietnam in 2021

Chart 3 3. The change of CPI in the period 2021-2022

04.
BALANCE OF
TRADE
 4.1.
Vietnam's trade
balance in 2020
• Total import and export turnover of
goods in 2020 was estimated at 543.9
billion USD, increased by 5.1% over the
previous year.
• Export turnover reached 281.5 billion
USD, increased by 6.5%;
• Goods import turnover reached 262.4
billion USD, increased by 3.6%

Chart 4‑2. Value of exports, imports and trade balance in 2020

 4.1. Vietnam's trade balance in 2020

a. Export turnover

Chart 4 3. Total export value through each month in 2020

 4.1. Vietnam's trade balance in 2020

b. Import turnover

Chart 4‑4. Total import value through each month in 2020

 4.2.
Vietnam's trade
balance in 2021
• Total export and import turnover of
goods reached a record number of USD
668.54 billion, increased by 22.6%
compared to 2020
• Exports increased by 19%;
Imports increased by 26.5%.
• 2021 is the first year of implementing
the 5-year socio-economic development
plan 2021-2025.
Chart 4‑5. Value of exports, imports and trade balance in 2021
 4.2. Vietnam's trade balance in 2021

a. Export turnover

Chart 4‑6.Total export value through each month in 2021

 4.2. Vietnam's trade balance in 2021

b. Import turnover

Chart 4‑7. Total import value through each month in 2021

 CONCLUSION

In the period 2020 – 2021 full of changes with difficulties

piling up difficulties, Vietnam has made lots of efforts to
maintain, recover and promote economic development with
many positive highlights

We believe that Vietnam definitely accomplish the set goals and

tasks for 2022, creating a premise for the successful realization
of the aspiration to develop a prosperous, prosperous and
powerful Vietnam.
THANK YOU FOR YOUR
ATTENTION
 • Nguyễn Thị Ly Na
• Nguyễn Khánh Quyên
GROUP 1 • Nguyễn Hồng Ngọc
• Phan Nguyễn Khôi Nguyên
• Trương Thị Khánh Hòa