Vietnam agriculture in 2022: Switching to an agricultural economy

Vietnam Economic Pulse (VEP) has sustained the recovery from Covid-19 to create the prospects for growth in 2023. Finally, the real GDP growth in 2022 reached 8.02% (General Statistics Office of Vietnam). It is the highest among major countries in the Asia Pacific region. Vietnam economic conditions have improved dramatically. The GDP per capita obtained $US 4,110.  Thanks are due to an effective and universal Covid-19 vaccination program, and a flexible policy response, the domestic economy has rebounded strongly from the last quarter of 2021.

Vietnam is anticipated to be placed among the top 15 with the largest GDP based on purchasing power parity (PPP) in Asia this year, according to the latest projections made by the International Monetary Fund (IMF).

The Vietnam agriculture sector has increased by 3.36 percent as compared to 2021; including crop products and husbandry of 2.88% [1.51% and 5.93%, respectively], forestry of 6.13% and fishery of 4.43%.

The export turnover of agriculture obtained $US 53,22 billion (9.3% increased) with its trade surplus of 9.3%. It included agro-products ($ 22.59 billion), husbandry products ($0.400 billion), aqua-products ($10.92 billion) and processed wood & furniture products ($16.92 billion).

The communes reached their standard promotion of new rural offered 73.06%, with 255 districts got this standard.

The crop product value obtained VND 104.2 million per ha (0.6% increased), it means $US 4,400 per ha roughly.