Vietnamese per capita income sees sharp increase over three decades

In 1995 Vietnamese per capita income was US$250, ranking ninth out of 10 countries in Southeast Asia, just above Myanmar with US$90. Meanwhile, Singapore was the country with the highest per capita income, reaching US$23,630.

However, 1997 saw Vietnamese per capita income surpass that of Cambodia to rank eighth in the region. At this time, the country’s per capita income was about US$330, higher than Myanmar’s US$130 and Cambodia’s US$320.

Throughout the 1997 to 2021 period, Vietnam surpassed Myanmar, Cambodia, and Laos, to rank in seventh position. Last year witnessed its average income per capita reach US$3,560 annually. However, the country remained behind the likes of Singapore, Brunei, Malaysia, Thailand, Indonesia, and the Philippines.

Most notably, between 1995 and 2021 the country’s average income increased more than 14 times, representing the highest rise in ASEAN. This figure shows Vietnam has actively developed its economy and improved the overall quality of life for local people.

In the 2021 - 2025 period, the country will seek to improve labour productivity, apply scientific and technological advances, and enhance the overall quality of human resources.