Vietnamese People's Expenditure: High Level in ASEAN

4:07:53 PM | 3/2/2006

Vietnam is seen as one of the countries with the highest expenditure in the Southeast Asian region with per capita spending of VND438,000 (US$27.7) per month in 2005, according to the latest research by the Ministry of Trade.

Vietnamese spending makes up more than 70 per cent of the gross domestic product (GDP), while other big economies in the region such as Singapore expenditure accounts for 57 per cent, Malaysia 59 per cent and Thailand 68 per cent.

The Ministry of Trade’s research also shows that Vietnamese personal expenditure has been on the rise in the last five years.

Each Vietnamese spent VND438,000 (US$27.7) per month in 2005, much higher than VND387,000 (US$24.5) in 2003 and doubling the 2000 level.

The increasing in personal spending indicates a high income and payment capability of the Vietnamese.

The ministry forecasts that the personal spending in the country will continue to go up sharply in the coming years, helping speed up economic growth in the next five years.

Vietnam, with a population of 83 million people, spent VND90.125 trillion in the first two months of this year.

Each Vietnamese person had an average annual income of US$640 in 2005.
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