Names: conventional long form: Socialist Republic of Vietnam conventional short form: Vietnam local long form: Cong Hoa Xa Hoi Chu Nghia Viet Nam local short form: Viet Nam abbreviation: SRV

Capital City: Hanoi

Population: 84,402,966 (July 2006 est.)

GDP Per Capita: $3,100 (2006 est.)

Currency: dong (VND)

Languages: Vietnamese (official), English (increasingly favored as a second language), some French, Chinese, and Khmer; mountain area languages (Mon-Khmer and Malayo-Polynesian)

Total Area: total: 329,560 sq km land: 325,360 sq km water: 4,200 sq km slightly larger than New Mexico

Region: Asia

Industries: food processing, garments, shoes, machine-building; mining, coal, steel; cement, chemical fertilizer, glass, tires, oil, paper

Agriculture: paddy rice, coffee, rubber, cotton, tea, pepper, soybeans, cashews, sugar cane, peanuts, bananas; poultry; fish, seafood

Resources: phosphates, coal, manganese, bauxite, chromate, offshore oil and gas deposits, forests, hydropower

Labor Force: 44.58 million (2006 est.)
agriculture: 56.8% industry: 37% services: 6.2% (July 2005)

Exports: $39.92 billion f.o.b. (2006 est.)
crude oil, marine products, rice, coffee, rubber, tea, garments, shoes

Imports: $39.16 billion f.o.b. (2006 est.)
machinery and equipment, petroleum products, fertilizer, steel products, raw cotton, grain, cement, motorcycles

Overview: Vietnam is a densely-populated, developing country that in the last 30 years has had to recover from the ravages of war, the loss of financial support from the old Soviet Bloc, and the rigidities of a centrally-planned economy. Substantial progress was achieved from 1986 to 1997 in moving forward from an extremely low level of development and significantly reducing poverty. Growth averaged around 9% per year from 1993 to 1997. The 1997 Asian financial crisis highlighted the problems in the Vietnamese economy and temporarily allowed opponents of reform to slow progress toward a market-oriented economy. GDP growth averaged 6.8% per year from 1997 to 2004 even against the background of the Asian financial crisis and a global recession, and growth hit 8% in 2005 and 7.8% in 2006. Since 2001, however, Vietnamese authorities have reaffirmed their commitment to economic liberalization and international integration. They have moved to implement the structural reforms needed to modernize the economy and to produce more competitive, export-driven industries. Vietnam's membership in the ASEAN Free Trade Area (AFTA) and entry into force of the US-Vietnam Bilateral Trade Agreement in December 2001 have led to even more rapid changes in Vietnam's trade and economic regime. Vietnam's exports to the US doubled in 2002 and again in 2003. Vietnam joined the World Trade Organization in January 2007. This should provide an important boost to the economy and should help to ensure the continuation of liberalizing reforms. Among other benefits, accession will allow Vietnam to take advantage of the phase out of the Agreement on Textiles and Clothing, which eliminated quotas on textiles and clothing for WTO partners on 1 January 2005. Agriculture's share of economic output has continued to shrink, from about 25% in 2000 to 20% in 2006. Deep poverty, defined as a percent of the population living under $1 per day, has declined significantly and is now smaller than that of China, India, and the Philippines. Vietnam is working to promote job creation to keep up with the country's high population growth rate. However, high levels of inflation have prompted Vietnamese authorities to tighten monetary and fiscal policies. Hanoi is targeting an economic growth rate between 7.5 and 8% over the next five years.

_{CIA World Book}

In 2007 Missouri exported $17,194,676 in goods to Vietnam. This ranks Vietnam 37^th among the 223 international buyers of Missouri goods. Missouri exports to Vietnam increased from the previous year by $7,410,038 a change of 75.73%. State exports to Vietnam have increased over the last 5 years by $12,734,314 a change of 285.49%. Missouri exports account for .13%. of all 2007 US exports to Vietnam.