The trend of economic structural transformation in Vietnam during the 2010 - 2022 period

Abstract

This article is based on secondary data from the General Statistics Office and the World Bank. Using criteria to assess economic structural transformation, the article aims to evaluate the trend of economic structural transformation in Vietnam in recent years. The research results indicate that since 2010, the economic sector has shifted from a significant reliance on agriculture, forestry, and fisheries to an increasing share of industry, construction, and service sectors in the country's GDP structure. Labor in various economic sectors has shown a shift with a decreasing proportion in the agricultural, forestry, and fisheries sectors and an increasing proportion in the industry, construction, and service sectors. Vietnam's export product structure has also positively shifted, with a reduced proportion of agricultural and forestry products and an increased share of industrial processing, manufacturing, and services. The industrial and construction sectors have the highest labor productivity among the three economic regions, while the agricultural, forestry, and fisheries sectors have the lowest labor productivity. Alongside the achievements, the process of economic structural transformation in Vietnam still faces various difficulties and certain limitations. Based on these findings, the article proposes some recommendations for a more rational and sustainable transformation of the country’s economic sector.