A country of 95.5 million people, surrounded by thick forest, beautiful beaches, green rivers, is an increasingly attractive location for manufacturers.
The declining unemployment rate, 2.17% in March 2019, compared to 2.2% last year. With a supply of trained and low-cost labor creating an excellent condition for production.
The global shipments figures reveal the exponential growth of the top 10 export products in Vietnam. Electrical machinery and equipment top the export product list accounting for 39% of total exports. Footwear comes second at 7.9%, while clothing & accessories represent 5.7%.
Machinery, computers valued USD$15.1 billion, at 5.5%, ranked fourth, while knit or crochet clothing, accessories took up 5.3% at USD$14.6 billion.
Further down the list come optical, technical, medical apparatus at 2.2%, fish 2%, plastics, plastics articles and leather/animal gut articles, both at 1.5%, still achieve a value of USD$4.1 billion.