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Vietnam is still a developing country, but is Vietnam poor? Find your answer here in our guide to average Vietnamese salary and Vietnam Gross Domestic Product (GDP).
Related: Vietnamese Currency
Vietnam's economy has taken a major toll due to the surge of COVID cases in 2021. Fortunately, the situation has been put under control thanks to the mass vaccination scheme throughout the country, and Vietnam's GDP has shown signs of growth again.
Minimum Wage (by law): 3.98 million VND/month
The average Vietnamese income by areas (thousand VND/month):
|Areas||Minimum Income||Average Income||Maximum Income|
The average Vietnamese salary in some professions for people with 5-8 years of experience (US$/month):
|Accounting||~1,500 (can be up to 4,000)|
|Banking||~1,500 (can be up to 7,000)|
|Finance||~3,000 (can be up to 5,000)|
|Insurance||~1,500 (can be up to 5,000)|
|Consumer Goods||~1,500 (can be up to 5,000)|
|Construction||~1,500 (can be up to 4,000)|
|Medical care||~1,000 (can be up to 3,000)|
|Human Resources||~1,500 (can be up to 3,500)|
|Legal||~1,500 (can be up to 6,000)|
|Hospitality||~1,500 (can be up to 3,500)|
|Information Technology||~1,500 (can be up to 3,500)|
|Manufacturing||~1,500 (can be up to 3,500)|
|Trading||~2,000 (can be up to 5,000)|
|Supply Chain||~1,500 (can be up to 3,500)|
In general, employees in-state companies receive lower pay than the private sector (about one-third or one-fifth).
While some Vietnamese could be considered well-off, the gap between rich and poor is still quite large. In August 2018, the average of the group with the highest income is 9.8 times that of the average of the group with the lowest income (according to the General Statistics Office). And when comparing the Vietnam GDP, Vietnam GDP per capita, as well as Human Development Indicators, to those of many developed countries around the world like the US and China, there is a huge difference, which makes Vietnam still classified as a developing country.
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© Written by Nhi Nguyen for itourvn.com
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I don't think Vietnam is poor at all. The infrastructure is pretty modern, and the population is very young. So much potentials for economy development.