Vietnam Facts & Figures

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Vietnam Facts & Figures

Reviewed by Lief Simon

Lief Simon is the managing editor of Global Property Advisor, Simon Letter, and Offshore Living Letter. He has purchased more than 45 properties, investing in 23 different countries around the world.

Da Nang city skyline cityscape at Han river at twilight in Da Nang, central Vietnam facts and figures
Adobe Stock/Hanoi Photography
Information TypeVietnam Data
Population98,858,950 (June 2023 est.)
Gross Domestic Product (GDP)US$430 billion (2023 est.)
GDP Per CapitaUS$4,284 (2023 est.)
Inflation Rate3.35% (2023 est.)
CurrencyVietnamese dong (VND)
Exchange Rate Versus U.S. Dollar24,390 dongs per U.S. dollar (Feb. 2023)
LanguageVietnamese (official), English (increasingly favored as a second language), some French, Chinese, and Khmer, mountain area languages (Mon-Khmer and Malayo-Polynesian)
CapitalHanoi
Population of Capital City9.3 million (municipality area)
Time ZoneUTC/GMT +7 hours
SeasonsTropical in south. Monsoonal in north with hot, rainy season (May to September) and warm, dry season (October to March)
International Dialing Code84
Electricity120/220V- 50Hz
System of GovernmentSingle-party state
Current LeaderPresident Nguyễn Phú Trọng (since October 2018)
Income Tax Rate for Residents5% to 35%
Property TaxThe municipal authorities levy tax on real estate
Capital Gains Tax0.1% on the gross sale or 20% of net profit.
Inheritance TaxInheritances and gifts are subject to income tax at special rates.
Rental Income TaxNonresidents are liable to pay tax on their Vietnamese-sourced income at a flat rate of 20%
Transfer Tax0.1 to 10%. Apply on the transfer of properties
Sales TaxRates are 0%, 5%, and 10%
Restrictions on Foreign Ownership of PropertyForeigners are not allowed to own land
Local Chambers of CommerceN/A
American Chamber of Commerce
Primary ExportsClothes, shoes, electronics, seafood, crude oil, rice, coffee, wooden products, machinery
Residency and Visa RequirementsForeign nationals who wish to visit the country can apply directly at the Vietnam Embassy or Consulates located in their countries of residence. The entire application process will take about 4 to 10 days. Visitors may also obtain the visa upon arrival at the airport with certain special requirements.
Special Benefits for Foreign Residents or RetireesForeigners who are residents in Vietnam can own dwelling houses but cannot sub-lease these dwellings
National AirlineVietnam Airlines

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