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Vietnam belongs to the group of countries with high economic growth rates


Market news site Yahoo!finance has just published an article stating that Vietnam, China and some Asian countries are among the 20 countries with the fastest economic growth in the world in the past 10 years.

 Illustration photo: TTXVN

The data in the above article is based on data from the International Monetary Fund (IMF). Specifically, analysts looked at real Gross Domestic Product growth (Real GDP is a measure of inflation-adjusted gross domestic product that reflects the value of all goods and services produced by a country). economy generated in a given year) based on data for the period 2012-2022 to calculate average growth over the past 10 years.

Accordingly, with an average real GDP growth rate of 6.1% over the past decade, Vietnam belongs to the group of countries with high economic growth rates. Vietnam's agricultural sector is an important pillar of the economy, both contributing to GDP and creating jobs.

Vietnam's agricultural, forestry and fishery export turnover reached 53.22 billion USD for the first time in 2022, an increase of 9.3% compared to 2021. Thanks to that, the trade surplus of Vietnam's entire agricultural sector reached 8.5 billion USD, accounting for more than 75% of the total trade surplus value of the economy. In the group of exported agricultural, forestry, and aquatic products, 7 items reached a turnover of more than 3 billion USD; 8 products or product groups achieved export turnover of more than 2 billion USD including coffee, rubber, rice, vegetables, cashew nuts, shrimp, pangasius, and wood products. Regarding rice alone, Vietnam has exported nearly 7.3 million tons with a total value of 3.54 billion USD in 2022, an increase of nearly 7% compared to 2021. This is the highest rice export turnover ever. due to rising prices. Vietnam's average export rice price is 485 USD/ton, the highest in the world.

The article cites Vietnamese data showing that the US is still the largest market importing agricultural, forestry and fishery products from Vietnam with a turnover of 13.3 billion USD, equivalent to 25% of the market share, followed by China. Vietnam with more than 10 billion USD (18.9% market share); Japan with 4.2 billion USD (7.9% market share); Korea with 2.5 billion USD (4.7% market share).


At the continental level, Asia accounts for 44.7% of the market share, the Americas 27.4%, Europe 11.3%, Oceania 1.7% and Africa 1.7%.

Also according to the article, the top 5 countries in the list of 20 economies with the fastest growth rates in 10 years are Guyana (South America) at No. 1 with an average GDP increase of nearly 15%. Ranked 2nd is Ireland (Europe) with more than 9%, followed by Ethiopia (Africa) with 8.43%, Tajikistan (Central Asia) with more than 7% and Côte d'Ivoire (West Africa) with more than 6. 8%.

According to