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ToggleVietnam’s economy has experienced rapid growth over recent decades, driven by a diverse range of key industries that contribute significantly to the nation’s GDP. These industries have been pivotal in transforming Vietnam from a primarily agrarian society into one of the fastest-growing economies in Southeast Asia. With a strong focus on exports, manufacturing, and emerging technology sectors, the country is well-positioned to continue its trajectory of economic expansion.
At the heart of Vietnam’s economy is the manufacturing sector, particularly in textiles, electronics, and machinery. This sector benefits from Vietnam’s integration into global supply chains, making it a leading destination for foreign direct investment. Major multinational corporations have established manufacturing hubs across the country, taking advantage of its skilled labour force and competitive production costs.
In addition to manufacturing, the agriculture sector remains vital, providing employment and export revenue. Vietnam is one of the world’s largest exporters of commodities such as rice, coffee, and seafood. Furthermore, industries like tourism and information technology are gaining momentum, positioning Vietnam as a regional leader in both sustainable tourism and the digital economy. These sectors together form the backbone of Vietnam’s dynamic and diverse economic landscape.
Manufacturing industry in Vietnam
Vietnam’s manufacturing sector is experiencing a significant boom, transforming the country from a relatively underdeveloped market into a global manufacturing hub within just two decades. This rapid growth has created millions of jobs and positioned Vietnam as a key player in global supply chains. By 2022, 86 percent of the country’s export merchandise came from manufacturing, a substantial leap from 49 percent in 2002. This growth has also been reflected in export values, rising from US$19.19 billion in 2002 to an impressive US$384.22 billion by the end of 2022.
See also: Manufacturing in Vietnam
Garments and Textiles
Vietnam garment manufacturing has come a long way in not so many years. In 2023, Vietnam took third place in terms of world market share of garment exports, sending nearly US$33 billion worth of garments and textiles all over the world. This rapid ascent up the garment manufacturing leaderboard has in large part been due to Vietnam’s low wages, which are about a third of what they are in the traditional garment and manufacturing hub that is China.
Read more: Vietnam Garment Manufacturing
Footwear
Vietnam footwear manufacturers count themselves as part of one of the biggest footwear manufacturing industries in the world. From sandals to running shoes and everything in between, Vietnam exports footwear to just about every corner of the planet. This has made the country somewhat expert in this field with a sizable workforce with experience in the sector. This, in turn, is seeing more firms drawn to making shoes in the country.
Read more: Vietnam Footwear Manufacturing
Furniture
Vietnam’s furniture industry has evolved from primarily producing wooden outdoor furniture to a diversified sector encompassing a wide range of products, including upholstered furniture, office furniture, and home décor. The country’s manufacturers have demonstrated a strong ability to adapt to changing consumer preferences and market trends, resulting in innovative designs and high-quality products.
Read more: Vietnam Furniture Manufacturing
Electronics
The electronics manufacturing industry in Vietnam has grown rapidly, becoming a key player in the global supply chain. With its strategic location in Southeast Asia, Vietnam offers competitive labour costs, a young and skilled workforce, and increasingly sophisticated infrastructure. The country has attracted significant investments from global electronics giants such as Samsung, LG, and Intel, which have established large production facilities here. As a result, electronics have become one of Vietnam’s top export sectors.
Read more: Vietnam Electronics Manufacturing
Ceramics
Characterised by its diversity and ingenuity, Vietnamese ceramics encompass a wide range of techniques, styles, and functions. From the early utilitarian earthenware vessels of Neolithic times to the refined porcelain of subsequent dynasties, this artistic tradition has flourished due to abundant clay resources and a deeply ingrained aesthetic sensibility. Most recently, ceramic tile manufacturing has become a key industry in Vietnam and ceramic tiles have become a key export. With this in mind, this article looks at Vietnam’s ceramics market, ceramics exports, and ceramics manufacturers.
Read more: Vietnam Ceramics Manufacturing: Industry Overview
Food and beverage industry in Vietnam
Vietnam’s food and beverage–or F&B–industry has experienced remarkable growth in recent years, driven by a combination of factors including rapid urbanisation, rising disposable incomes, and a burgeoning middle class. The country’s rich culinary heritage, coupled with increasing consumer demand for diverse and convenient food options, has created a dynamic and promising market.
Read more: Vietnam’s Food and Beverage Industry
Beer
Vietnamese are among the biggest beer drinkers in Southeast Asia with beer a key component of Vietnam’s food and beverage industry. This preference for beer, coupled with Vietnam’s rapid economic development, has led to a thriving beer industry. Not only are big international brands setting up shop in this very-thirsty Southeast Asian nation but craft brewing is also beginning to carve out a piece of the beer consumption market and a place on the taste buds of Vietnamese consumers.
Read more: Vietnam’s Beer Industry
Coffee
In 2024, Vietnam continues to be a formidable force in the global coffee industry, maintaining its status as the second-largest coffee exporter in the world, just behind Brazil. Vietnam is particularly renowned for its robusta coffee, which plays a pivotal role in the global market. The country’s robusta production, primarily centred in the Central Highlands, accounts for a significant portion of the global supply, making Vietnam an essential contributor to the international coffee trade.
Read more: Vietnam’s Coffee Industry
Dairy
Vietnam’s dairy market is one of the biggest segments of Vietnam’s food and beverage industry and has been experiencing robust growth, driven by increasing consumer incomes, a burgeoning population, and a growing preference for dairy products including milk, cheese, and yogurt.
Read more: Vietnam’s Dairy Market: Overview
Seafood
Vietnam’s seafood industry is a global powerhouse, significantly contributing to the nation’s economy. With a long coastline and rich aquatic resources, Vietnam has cultivated a thriving seafood sector encompassing both capture fisheries and aquaculture.
Read more: Vietnam Seafood Processing: Industry Overview
Wine
Free trade agreements with countries such as the European Union and Chile have contributed to the growing availability of imported wines, making them more affordable. However, the industry faces challenges such as competition from other alcoholic beverages and a lack of wine education among the broader population. Despite these obstacles, the wine market in Vietnam is expected to expand as consumer preferences continue to shift towards a more diversified range of alcoholic beverages.
Read more: Vietnam Wine Industry: Overview
Primary Industries in Vietnam
Aquaculture
Vietnam’s aquaculture industry has experienced significant growth in recent years, becoming a major contributor to the country’s economy and food security. With its extensive coastline, abundant freshwater resources, and favourable climate, Vietnam possesses ideal conditions for aquaculture development. The industry plays a crucial role in providing a sustainable source of protein, supporting rural livelihoods, and generating foreign exchange.
Read more: Vietnam’s Aquaculture Industry: Overview
Agriculture
Vietnam’s agriculture sector plays a crucial role in the country’s economy, contributing significantly to GDP and employing a large portion of the workforce. It is a diverse sector, encompassing crops, livestock, forestry, and fisheries. The country is a leading global exporter of products such as rice, coffee, and seafood. In recent years, the sector has seen a shift towards higher-value crops and more sustainable farming practices, as the government aims to enhance both productivity and environmental sustainability.
Read more: Vietnam’s Agriculture Industry: Overview
Consumer goods
Vietnam’s consumer goods Industry has experienced rapid growth in recent years, driven by a burgeoning middle class, increasing disposable income, and shifting consumer preferences. The country’s young and dynamic population, with a significant portion aged between 25 and 54, presents a lucrative market for a wide range of products.
Read more: Consumer Goods in Vietnam: Industry Overview
Retail
As of 2024, Vietnam’s retail industry continues to show promise, driven by a rising middle class, increased consumer spending, and a young population. The sector has increasingly embraced digital transformation, with e-commerce rapidly expanding alongside traditional retail channels. Online shopping is gaining popularity, particularly among younger consumers, spurred by mobile technology and changing shopping behaviours.
Read more: Vietnam’s Retail Industry: Overview
Cars
Vietnam’s automotive industry has come a long way as middle-class incomes have grown facilitating a shift from motorcycles to cars. However, the automotive industry in Vietnam can be complex, governed by a patchwork of local regulations and free trade agreements.
Read more: Vietnam’s Automotive Industry: Foreign Investor’s Guide
Pharmaceuticals
Vietnam’s pharmaceuticals industry is poised for significant growth, driven by rising healthcare demands, increasing government support, and a growing middle class with heightened health awareness. The country has made substantial investments in its healthcare infrastructure, including the establishment of modern hospitals and clinics, which, in turn, boosts the demand for pharmaceutical products. As the population ages and chronic diseases become more prevalent, the need for effective medications and healthcare solutions is more critical than ever.
Read more: Vietnam’s Pharmaceuticals Industry: Overview
Cosmetics
Vietnam’s cosmetics industry has witnessed remarkable growth in recent years, driven by a burgeoning middle class, increasing disposable incomes, and a growing awareness of personal care. The country’s young and fashion-conscious population has fueled demand for a wide range of beauty products, from skincare and makeup to haircare and fragrances.
Read more: Vietnam’s Cosmetics Industry for Foreign Firms 2024
Online shopping
Vietnam’s online shopping market has seen remarkable growth in recent years, driven by the increasing accessibility of the internet and the widespread use of smartphones. The nation’s young and tech-savvy population, combined with a burgeoning middle class, has created an ideal environment for e-commerce to flourish. Platforms like Shopee, Lazada, and Tiki dominate the market, offering a wide range of products from electronics to fashion and daily necessities.
Read more: Vietnam Online Shopping: Industry Overview
Real Estate
Vietnam’s real estate industry has evolved rapidly over the past decade, reflecting Vietnam’s broader economic transformation and urbanisation. Foreign direct investment (FDI), infrastructure development, and a burgeoning middle class are propelling demand across residential, commercial, industrial, and hospitality sectors. Despite challenges such as regulatory complexities and market fluctuations, the outlook for real estate in Vietnam over the long term is promising.
Read more: Real Estate in Vietnam: Industry Overview
Education
Vietnam’s education industry has experienced significant transformation and growth over the past few decades, positioning the country as a rising star in Southeast Asia. In 2024, the education sector continues to be a critical area of focus for the government as it seeks to support rapid economic growth, modernise its workforce, and integrate into the global economy.
Read more: Education in Vietnam: Industry Overview
Resources
Vietnam’s mining industry is a vital sector of the country’s economy, contributing significantly to its GDP and export revenues. As of 2024, the industry is characterised by a diverse range of mineral resources, including coal, iron ore, bauxite, and various precious and industrial minerals.
Read more: Vietnam’s Mining Industry: Overview
Aviation
Vietnam’s aviation industry is poised for significant growth, reflecting the country’s ongoing economic development and increasing demand for air travel. As a rapidly emerging market in Southeast Asia, Vietnam has been enhancing its aviation infrastructure, with major investments in airport expansions and upgrades to accommodate the rising number of domestic and international travellers.
Read more: Vietnam’s Aviation Industry: Overview
Tourism
The Vietnam tourism industry plays a vital role in Vietnam’s economy, contributing significantly to GDP, job creation, and foreign exchange earnings. It includes a wide range of services such as hotels, restaurants, travel agencies, tour operators, transportation, and attractions, catering to both international and domestic tourists.
Read more: Vietnam’s Tourism Industry: Overview
Golf
Vietnam’s golf industry has experienced impressive growth, positioning the country as one of Asia’s emerging golfing destinations. With its diverse landscapes, from coastal areas to mountainous regions, Vietnam offers a variety of world-class golf courses designed by renowned architects, attracting both domestic players and international tourists.
Read more: Vietnam Golf Industry: Overview
Fitness
Vietnam’s health and fitness industry in 2024 is growing rapidly, driven by rising income levels, increasing health awareness, and urbanisation. Gyms and fitness centres, both large international chains and local establishments, are expanding to meet this demand.
Read more: Vietnam’s Fitness Industry: Overview
Technology
Vietnam is experiencing a technological revolution. Once primarily known for its manufacturing sector, the country is rapidly transforming into a tech hub. A young, digitally savvy population, combined with supportive government policies, has created a fertile ground for innovation.
Read more: Technology in Vietnam: Sector Overview
Media
The Vietnamese news media industry in 2024 continues to evolve rapidly, influenced by technological advancements, economic growth, and changing consumer preferences. While state-owned media still dominate the landscape, independent outlets and digital platforms have gained significant traction, offering a more diverse range of perspectives and news coverage.
Read more: Vietnam News Media Industry Overview
Creative industries
Vietnam’s creative industries are not particularly well developed. Whereas creative industries make up about 5 to 10 percent of global GDP, in Vietnam that figure is only estimated to be about 3 percent. This is for a number of reasons, many of which foreign creatives and investors in creative industries should be aware of when doing business in Vietnam.
Read more: Vietnam’s Creative Industries: Cheat Sheet
Film
Vietnam’s film industry is still in a developing phase, characterised by a mix of challenges and opportunities. Historically, the industry has been dominated by government-produced films with limited private investment. While there has been a slow but steady increase in the number of commercially-oriented films, the market remains relatively small compared to other Southeast Asian countries.
Read more: Vietnam’s Film Industry: Overview
Advertising
Vietnam’s advertising industry is experiencing dynamic growth, driven by rapid digitalisation and increasing consumer engagement on various platforms. The market is projected to expand significantly, with TV and video advertising leading the sector. Despite the digital shift, traditional advertising mediums like out-of-home (OOH) and print have retained some relevance, particularly in reaching specific demographics. However, the dominance of digital platforms is evident, with social media and influencer marketing playing a crucial role in shaping consumer preferences and brand visibility.
Read more: Vietnam’s Advertising industry: Overview
Publishing
Vietnam’s publishing industry is evolving, driven by a combination of traditional and digital platforms. The market encompasses a range of products including books, educational materials, newspapers, and magazines. State-owned and private publishers both play significant roles in the industry, focusing on diverse genres such as fiction, non-fiction, and educational books. These companies contribute to fostering a culture of reading and knowledge dissemination throughout the country.
Read more: Vietnam’s Publishing Industry: Overview
Music
The music industry in Vietnam has undergone significant changes over the past few decades, evolving from traditional genres to a dynamic blend of contemporary sounds. Historically rooted in folk music and revolutionary songs, the industry now embraces a diverse range of styles, including pop, hip-hop, and electronic music. This transformation has been driven by the rise of a young, tech-savvy audience and the growing influence of global music trends. The local scene is flourishing, with Vietnamese artists gaining prominence both domestically and on international platforms.
Read more: Vietnam’s Music Industry: Overview