Vietnam’s Consumer Market Has Huge Growth Potential
Vietnam’s per capita GDP was only USD 2,540 in 2018, which was less than one third of China’s and lower than that of Singapore, Thailand, Malaysia and other ASEAN countries. However, Vietnamese people spend little on housing, education and medical services and have low savings rate, making consumption as the major driver of economic growth. According to CRI, consumption is a major contributor to Vietnam’s GDP. Household consumption is closely related to final consumption expenditure. Since 1995, final consumption expenditure has been accounting for more than 70% of Vietnam’s GDP,…
Read More