World Grain - April 2022 - 18

COUNTRY FOCUS
KEY FACTS
FOCUS ON
VIETNAM
Wheat flour becoming a bigger
part of the country's diet
by Chris Lyddon
Vietnam is a major producer, consumer and exporter of rice, but
wheat flour is playing a growing part in the diets of its citizens.
In its March 17 Grain Market Report, the International Grains
Council (IGC) put Vietnam's total corn production in 2021-22
at 4.4 million tonnes, unchanged from the forecast it produced
a month earlier and down on the previous year's output of
4.6 million.
The IGC forecasts Vietnam's total grains imports in 2021-22
at 16.4 million tonnes, unrevised from a month before, and down
from the 17.2 million imported in 2020-21. The import figure
includes 3.6 million tonnes of wheat, down from 3.9 million the
previous year. Corn imports are put at 12.2 million tonnes, down
from the prior year's 12.7 million.
The Council forecasts Vietnam's 2021-22 rice output at 28.9
million tonnes, an upward revision from its February forecast of
28.3 million and also up on the previous year's crop of 28.5 million.
Vietnam
also is slated to import 1.8 million tonnes of soybeans
in 2021-22, a figure unrevised from the previous forecast and unchanged
from 2020-21.
Vietnam is one of the world's leading exporters
of rice, behind only India (which
is well ahead of all others) and Thailand,
with forecast shipments
abroad of 6.5 million tonnes forecast
for 2022-23, a prediction
that was revised up from 6.4
million tonnes a month earlier.
Rice exports in 2021-22
are put at 6.5 million tonnes.
Rice shipments in 2022
started more quickly than
the previous year. Jan. 1 to
Feb. 28 shipments are put
at 975,000 tonnes, compared
with 656,000 in the same period
in 2021.
According to a Background on
Vietnam supplied to World Grain by
18
Capital: Hanoi (Ha Noi)
Population: 102,789,598 (July 2021 est.)
Religions: Catholic 6.1%, Buddhist 5.8%, Protestant
1%, other 0.8%, none 86.3% (2019 est.) note:
most Vietnamese are culturally Buddhist.
Location: Southeastern Asia, bordering the Gulf
of Thailand, Gulf of Tonkin, and South China Sea,
as well as China, Laos, and Cambodia.
Government: Communist state. Chief of state:
President Nguyen Xuan Phuc (since July 26,
2021); head of government: Prime Minister Pham
Minh Chinh (since July 26, 2021.
Economy: Vietnam is a densely populated developing
country that has been transitioning since
1986 from the rigidities of a centrally planned,
highly agrarian economy to a more industrial
and market-based economy, and it has raised incomes
substantially. Vietnam exceeded its 2017
GDP growth target of 6.7% with growth of 6.8%,
primarily due to unexpected increases in domestic
demand, and strong manufacturing exports.
Vietnam has a young population, stable political
system, commitment to sustainable growth, relatively
low inflation, stable currency, strong FDI
inflows, and strong manufacturing sector. In addition,
the country is committed to continuing its
global economic integration. Vietnam joined the
WTO in January 2007 and concluded several free
trade agreements in 2015-16. In 2017, Vietnam
successfully chaired the Asia-Pacific Economic
Cooperation (APEC) Conference with its key priorities,
including inclusive growth, innovation,
strengthening small and medium enterprises,
food security, and climate change. Seeking to
diversify its opportunities, Vietnam also signed
the Comprehensive and Progressive Agreement
for the Transpacific Partnership in 2018 and continued
to pursue the Regional Comprehensive
Economic Partnership. To continue its trajectory
of strong economic growth, the government acknowledges
the need to spark a " second wave "
of reforms, including reforming state-owned-enterprises,
reducing red tape, increasing business
sector transparency, reducing the level of nonperforming
loans in the banking sector, and increasing
financial sector transparency. Vietnam's
public debt to GDP ratio is nearing the government
mandated ceiling of 65%.
GDP per capita: $8,200 note: data are in 2017
dollars (2020 est.); Inflation: 2.7% (2019 est.); unemployment:
3.11% (2018 est.).
Currency: Dong (VND): 22,872 dongs equal 1 US
dollar (March 22, 2022).
Exports: $280.83 billion note: data are in current
year dollars (2019 est.): broadcasting equipment,
telephones, footwear, furniture (2019).
Imports: $261.68 billion note: data are in current
year dollars (2019 est.): integrated circuits, telephones,
refined petroleum, textiles, semiconductors
(2019).
Agriculture: 15.3% (2017 est.) of GDP and 40.3%
of the labor force.
Internet: Code: .vn; 68.72 million (2021 est.)
users.
Source: CIA World Factbook
April 2022 / World Grain / World-Grain.com
http://www.World-Grain.com
World Grain - April 2022

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