Vietnam’s per capita income forecast to reach USD1,300 this year

Vietnam is forecast to achieve a per capita income of VND27 million (USD1,300) this year, according to the Ministry of Industry and Trade.

The ministry said the country has seen improvements in a range of macro-economic indexes this year, with GDP expected to total USD119 billion.

Vietnam’s trade turnover this year is estimated to top over USD200 billion, ranking fifth in ASEAN region just behind Singapore, Thailand, Indonesia and Malaysia. Of the figure, export value would account or USD96 billion, up 32% compared to 2010.

Strong growth in export value has helped the nation sharply reduce the trade deficit to some USD10 billion in 2011. Vietnam incurred a trade deficit of USD18 billion in 2008, USD12.9 billion in 2009 and USD12.6 billion in 2010.