VIETNAM AGRICULTURE IN 2023 SHIFTING TO INTELLIGENT PRODUCTION

Vietnam is striving to take stronger measures to achieve “net-zero emissions” by 2050. Agriculture has been recognized as a bright spot in the economic development of 2023. Economic and market intelligence played an important part in the sector's growth last year. Traditionally, farmers focused on how to improve production, but higher yields did not always translate to increased income. As prices fluctuate, they may produce more but gain less.

Although Vietnam's GDP 2023 grows by 5.05% in 2023, not reaching the official growth target of 6.5%; Vietnam is one of the fastest growing economies in the region, remaining a positive level. The trade surplus offered USD 28 billion in 2023. The Consumer Price Index (PCI) rose 3.25%, well below the National Assembly target of keeping it under 4%.

The agriculture sector increased by 3.83%, while industry and construction increased by 3.74%, and services increased by 6.82%.

In 2023, the GPD is estimated as USD 431 billion with the GDP per capita of USD 4,316.

The Vietnam agriculture sector has increased by 3.83 percent as compared to 2022; including crop products and husbandry of 3.88%, forestry of 3.74% and fishery of 3.71%. The forest coverage rate obtained 42.02%. The rate of communes meeting new rural standards offered about 78%. Especially, total export turnover of the entire industry is USD 53.01 billion. The communes reached their standard promotion of new rural offered 78%

Labor force (57 million people) shared in agriculture, industry and services of 27%, 33% and 39%, respectively. Labour productivity for the entire economy at current prices is estimated at VND 199.3 million (USD 8,380) per worker, showing an increase of USD 274 as compared to 2022. Labour productivity based on comparative prices has risen by 3.65 per cent due to improved worker qualifications. It is estimated that 27 per cent of the workforce will have degrees or certificates, which is 0.6 percentage points higher than in 2022.