Taking Stock, July 2015 : An Update on Vietnam's Recent Economic Developments
Economic activity continued to firm up in 2015, driven by domestic demand. After coming in at 6 percent in 2014, GDP growth accelerated to 6.28 percent during the first half of 2015, the fastest first-half-of-the-year growth rate in the past five y...
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Hanoi
2015
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| Online Access: | http://documents.worldbank.org/curated/en/2015/07/24790418/taking-stock-update-vietnams-recent-economic-developments http://hdl.handle.net/10986/22342 |
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okr-10986-223422021-04-23T14:04:08Z Taking Stock, July 2015 : An Update on Vietnam's Recent Economic Developments World Bank UNION MEMBERSHIP JOBS AVERAGE UNEMPLOYMENT EMPLOYMENT INDUSTRIAL RELATIONS LABOR POLICIES EXPORT MARKETS PASSIVE LABOR UNION MEMBERSHIP RATE INDUSTRIAL RELATIONS SYSTEMS AGGREGATE GROWTH INFORMAL SECTOR HIGH UNIONIZATION MINIMUM WAGE FOREIGN-OWNED FIRMS PROTECTING WORKERS FOREIGN OWNERSHIP LABOR FORCE HEALTH INSURANCE PUBLIC SERVICES PUBLIC EMPLOYMENT INDUSTRIAL RELATIONS SYSTEM JOB LABOR MARKET REGULATION PRIVATE SECTOR FIRMS HOUSEHOLD ENTERPRISES NATIONAL UNEMPLOYMENT PRIVATE EMPLOYMENT LABOUR DEMAND WAGE DETERMINATION WAGE LEVEL RETAIL TRADE REAL WAGES PUBLIC EMPLOYMENT SERVICES LABOR MARKET POLICIES RETAIL ACTIVITY WAGE GROWTH ACTIVE LABOR ACTIVE” LABOR MARKET PROGRAMS DRIVERS ACTIVE” LABOR FOREIGN- OWNED FIRMS UNION DENSITIES HUMAN RESOURCE EARNINGS INEQUALITY LABOR MARKET BARGAINING SYSTEM PRODUCTIVITY IMPROVEMENTS PRIVATE FIRM LABOR COSTS LABOUR COSTS FIRM LEVEL WORKER ACTIVE LABOR MARKET ACTIVE” LABOR MARKET LABOR PRODUCTIVITY JOB LOSS HOUSEHOLD INCOME WAGE POLICIES INDUSTRIAL RELATIONS PRACTICES DOWNWARD PRESSURE LABOR CONTRACTS UNEMPLOYMENT INSURANCE LABOR TOTAL EMPLOYMENT JOB SEARCH LABOR MOVEMENT LABOR REGULATION LABOR MARKET INTERVENTIONS EXPORT MARKET MINIMUM WAGES WAGE LEVELS PERMANENT WORKERS UNEMPLOYMENT AVERAGE WAGES PRODUCTIVITY GROWTH COLLECTIVE DISMISSAL HUMAN CAPITAL WORKERS UNION DENSITY LABOR MARKET PROGRAMS YOUNG WORKERS EMPLOYMENT SITUATION UNEMPLOYMENT RATE EMPLOYMENT PROTECTION LEGISLATION HOUSEHOLD ENTERPRISE PRIVATE SECTOR ACTIVITY ACTIVE LABOR MARKET PROGRAMS WAGE INEQUALITY AVERAGE WAGE STATE-OWNED ENTERPRISES CREATIVE DESTRUCTION LABOR MARKET EFFICIENCY SKILLED WORKFORCE LABOUR MARKET INCOME DISTRIBUTION EMPLOYMENT SERVICES PRIVATE FIRMS WAGE FLOOR STATE- OWNED ENTERPRISES LABOR MARKET OUTCOMES EMPLOYMENT GROWTH JOB CREATION LABOR RELATIONS PRIVATE SECTOR COLLECTIVE BARGAINING LABOR MARKET PERFORMANCE LABOUR PRODUCTIVITY MANPOWER MANAGEMENT LABOR STANDARDS JOB SEARCH ASSISTANCE DISMISSAL WORKING CONDITIONS UNION REPRESENTATIVES HUMAN RESOURCES LABOR MARKET REGULATIONS LABOUR MARKET CONDITIONS EMPLOYEE WAGE DIFFERENTIALS EMPLOYMENT OUTLOOK CONSUMER PRICE INDEX UNSKILLED WORKERS UNEMPLOYMENT BENEFITS JOB SECURITY PRODUCTIVITY GAINS FIRM GROWTH LABOUR LABOR MARKETS PRIVATE SECTORS WAGE EMPLOYMENT LABOR REGULATIONS PRIVATE SECTOR WAGE PRIVATE ENTERPRISE CORPORATE GOVERNANCE EMPLOYEES Economic activity continued to firm up in 2015, driven by domestic demand. After coming in at 6 percent in 2014, GDP growth accelerated to 6.28 percent during the first half of 2015, the fastest first-half-of-the-year growth rate in the past five years. The recovery was driven by strong activity in manufacturing and construction, which together contributed nearly half of overall GDP growth. Retail sales also performed strongly, posting 8.3 percent (in real terms) in the first six months of 2015, up from 6.3 percent in 2014. However, despite the pickup in retail activity, overall services (which account for nearly 40 percent of GDP) rose modestly at 5.9 percent in the first half of 2015. In part, this reflected a struggling tourism sector, with tourist visits in the first six months down by 11 percent year-on-year. On the demand side, stronger growth was driven by investment (spurred by strong FDI inflows) and stronger private consumption boosted by low inflation. The contribution of net exports turned negative as sluggish external demand weighed on export growth while strengthened domestic activity continued to fuel import growth. 2015-07-29T16:36:26Z 2015-07-29T16:36:26Z 2015-07 Report http://documents.worldbank.org/curated/en/2015/07/24790418/taking-stock-update-vietnams-recent-economic-developments http://hdl.handle.net/10986/22342 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Hanoi Economic & Sector Work Economic & Sector Work :: Economic Updates and Modeling East Asia and Pacific Vietnam |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
UNION MEMBERSHIP JOBS AVERAGE UNEMPLOYMENT EMPLOYMENT INDUSTRIAL RELATIONS LABOR POLICIES EXPORT MARKETS PASSIVE LABOR UNION MEMBERSHIP RATE INDUSTRIAL RELATIONS SYSTEMS AGGREGATE GROWTH INFORMAL SECTOR HIGH UNIONIZATION MINIMUM WAGE FOREIGN-OWNED FIRMS PROTECTING WORKERS FOREIGN OWNERSHIP LABOR FORCE HEALTH INSURANCE PUBLIC SERVICES PUBLIC EMPLOYMENT INDUSTRIAL RELATIONS SYSTEM JOB LABOR MARKET REGULATION PRIVATE SECTOR FIRMS HOUSEHOLD ENTERPRISES NATIONAL UNEMPLOYMENT PRIVATE EMPLOYMENT LABOUR DEMAND WAGE DETERMINATION WAGE LEVEL RETAIL TRADE REAL WAGES PUBLIC EMPLOYMENT SERVICES LABOR MARKET POLICIES RETAIL ACTIVITY WAGE GROWTH ACTIVE LABOR ACTIVE” LABOR MARKET PROGRAMS DRIVERS ACTIVE” LABOR FOREIGN- OWNED FIRMS UNION DENSITIES HUMAN RESOURCE EARNINGS INEQUALITY LABOR MARKET BARGAINING SYSTEM PRODUCTIVITY IMPROVEMENTS PRIVATE FIRM LABOR COSTS LABOUR COSTS FIRM LEVEL WORKER ACTIVE LABOR MARKET ACTIVE” LABOR MARKET LABOR PRODUCTIVITY JOB LOSS HOUSEHOLD INCOME WAGE POLICIES INDUSTRIAL RELATIONS PRACTICES DOWNWARD PRESSURE LABOR CONTRACTS UNEMPLOYMENT INSURANCE LABOR TOTAL EMPLOYMENT JOB SEARCH LABOR MOVEMENT LABOR REGULATION LABOR MARKET INTERVENTIONS EXPORT MARKET MINIMUM WAGES WAGE LEVELS PERMANENT WORKERS UNEMPLOYMENT AVERAGE WAGES PRODUCTIVITY GROWTH COLLECTIVE DISMISSAL HUMAN CAPITAL WORKERS UNION DENSITY LABOR MARKET PROGRAMS YOUNG WORKERS EMPLOYMENT SITUATION UNEMPLOYMENT RATE EMPLOYMENT PROTECTION LEGISLATION HOUSEHOLD ENTERPRISE PRIVATE SECTOR ACTIVITY ACTIVE LABOR MARKET PROGRAMS WAGE INEQUALITY AVERAGE WAGE STATE-OWNED ENTERPRISES CREATIVE DESTRUCTION LABOR MARKET EFFICIENCY SKILLED WORKFORCE LABOUR MARKET INCOME DISTRIBUTION EMPLOYMENT SERVICES PRIVATE FIRMS WAGE FLOOR STATE- OWNED ENTERPRISES LABOR MARKET OUTCOMES EMPLOYMENT GROWTH JOB CREATION LABOR RELATIONS PRIVATE SECTOR COLLECTIVE BARGAINING LABOR MARKET PERFORMANCE LABOUR PRODUCTIVITY MANPOWER MANAGEMENT LABOR STANDARDS JOB SEARCH ASSISTANCE DISMISSAL WORKING CONDITIONS UNION REPRESENTATIVES HUMAN RESOURCES LABOR MARKET REGULATIONS LABOUR MARKET CONDITIONS EMPLOYEE WAGE DIFFERENTIALS EMPLOYMENT OUTLOOK CONSUMER PRICE INDEX UNSKILLED WORKERS UNEMPLOYMENT BENEFITS JOB SECURITY PRODUCTIVITY GAINS FIRM GROWTH LABOUR LABOR MARKETS PRIVATE SECTORS WAGE EMPLOYMENT LABOR REGULATIONS PRIVATE SECTOR WAGE PRIVATE ENTERPRISE CORPORATE GOVERNANCE EMPLOYEES |
| spellingShingle |
UNION MEMBERSHIP JOBS AVERAGE UNEMPLOYMENT EMPLOYMENT INDUSTRIAL RELATIONS LABOR POLICIES EXPORT MARKETS PASSIVE LABOR UNION MEMBERSHIP RATE INDUSTRIAL RELATIONS SYSTEMS AGGREGATE GROWTH INFORMAL SECTOR HIGH UNIONIZATION MINIMUM WAGE FOREIGN-OWNED FIRMS PROTECTING WORKERS FOREIGN OWNERSHIP LABOR FORCE HEALTH INSURANCE PUBLIC SERVICES PUBLIC EMPLOYMENT INDUSTRIAL RELATIONS SYSTEM JOB LABOR MARKET REGULATION PRIVATE SECTOR FIRMS HOUSEHOLD ENTERPRISES NATIONAL UNEMPLOYMENT PRIVATE EMPLOYMENT LABOUR DEMAND WAGE DETERMINATION WAGE LEVEL RETAIL TRADE REAL WAGES PUBLIC EMPLOYMENT SERVICES LABOR MARKET POLICIES RETAIL ACTIVITY WAGE GROWTH ACTIVE LABOR ACTIVE” LABOR MARKET PROGRAMS DRIVERS ACTIVE” LABOR FOREIGN- OWNED FIRMS UNION DENSITIES HUMAN RESOURCE EARNINGS INEQUALITY LABOR MARKET BARGAINING SYSTEM PRODUCTIVITY IMPROVEMENTS PRIVATE FIRM LABOR COSTS LABOUR COSTS FIRM LEVEL WORKER ACTIVE LABOR MARKET ACTIVE” LABOR MARKET LABOR PRODUCTIVITY JOB LOSS HOUSEHOLD INCOME WAGE POLICIES INDUSTRIAL RELATIONS PRACTICES DOWNWARD PRESSURE LABOR CONTRACTS UNEMPLOYMENT INSURANCE LABOR TOTAL EMPLOYMENT JOB SEARCH LABOR MOVEMENT LABOR REGULATION LABOR MARKET INTERVENTIONS EXPORT MARKET MINIMUM WAGES WAGE LEVELS PERMANENT WORKERS UNEMPLOYMENT AVERAGE WAGES PRODUCTIVITY GROWTH COLLECTIVE DISMISSAL HUMAN CAPITAL WORKERS UNION DENSITY LABOR MARKET PROGRAMS YOUNG WORKERS EMPLOYMENT SITUATION UNEMPLOYMENT RATE EMPLOYMENT PROTECTION LEGISLATION HOUSEHOLD ENTERPRISE PRIVATE SECTOR ACTIVITY ACTIVE LABOR MARKET PROGRAMS WAGE INEQUALITY AVERAGE WAGE STATE-OWNED ENTERPRISES CREATIVE DESTRUCTION LABOR MARKET EFFICIENCY SKILLED WORKFORCE LABOUR MARKET INCOME DISTRIBUTION EMPLOYMENT SERVICES PRIVATE FIRMS WAGE FLOOR STATE- OWNED ENTERPRISES LABOR MARKET OUTCOMES EMPLOYMENT GROWTH JOB CREATION LABOR RELATIONS PRIVATE SECTOR COLLECTIVE BARGAINING LABOR MARKET PERFORMANCE LABOUR PRODUCTIVITY MANPOWER MANAGEMENT LABOR STANDARDS JOB SEARCH ASSISTANCE DISMISSAL WORKING CONDITIONS UNION REPRESENTATIVES HUMAN RESOURCES LABOR MARKET REGULATIONS LABOUR MARKET CONDITIONS EMPLOYEE WAGE DIFFERENTIALS EMPLOYMENT OUTLOOK CONSUMER PRICE INDEX UNSKILLED WORKERS UNEMPLOYMENT BENEFITS JOB SECURITY PRODUCTIVITY GAINS FIRM GROWTH LABOUR LABOR MARKETS PRIVATE SECTORS WAGE EMPLOYMENT LABOR REGULATIONS PRIVATE SECTOR WAGE PRIVATE ENTERPRISE CORPORATE GOVERNANCE EMPLOYEES World Bank Taking Stock, July 2015 : An Update on Vietnam's Recent Economic Developments |
| geographic_facet |
East Asia and Pacific Vietnam |
| description |
Economic activity continued to firm up
in 2015, driven by domestic demand. After coming in at 6
percent in 2014, GDP growth accelerated to 6.28 percent
during the first half of 2015, the fastest
first-half-of-the-year growth rate in the past five years.
The recovery was driven by strong activity in manufacturing
and construction, which together contributed nearly half of
overall GDP growth. Retail sales also performed strongly,
posting 8.3 percent (in real terms) in the first six months
of 2015, up from 6.3 percent in 2014. However, despite the
pickup in retail activity, overall services (which account
for nearly 40 percent of GDP) rose modestly at 5.9 percent
in the first half of 2015. In part, this reflected a
struggling tourism sector, with tourist visits in the first
six months down by 11 percent year-on-year. On the demand
side, stronger growth was driven by investment (spurred by
strong FDI inflows) and stronger private consumption boosted
by low inflation. The contribution of net exports turned
negative as sluggish external demand weighed on export
growth while strengthened domestic activity continued to
fuel import growth. |
| format |
Report |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Taking Stock, July 2015 : An Update on Vietnam's Recent Economic Developments |
| title_short |
Taking Stock, July 2015 : An Update on Vietnam's Recent Economic Developments |
| title_full |
Taking Stock, July 2015 : An Update on Vietnam's Recent Economic Developments |
| title_fullStr |
Taking Stock, July 2015 : An Update on Vietnam's Recent Economic Developments |
| title_full_unstemmed |
Taking Stock, July 2015 : An Update on Vietnam's Recent Economic Developments |
| title_sort |
taking stock, july 2015 : an update on vietnam's recent economic developments |
| publisher |
Hanoi |
| publishDate |
2015 |
| url |
http://documents.worldbank.org/curated/en/2015/07/24790418/taking-stock-update-vietnams-recent-economic-developments http://hdl.handle.net/10986/22342 |
| _version_ |
1764450943201443840 |