Vietnam has successfully advanced to the "Club of the World's Most Populous Countries" and has an abundant labor force

On December 29, the Statistics Office of Vietnam released its economic report card for 2023 - a real increase of 5.05% year-on-year, and the GDP expanded to 10,221.81 trillion VND, equivalent to about 430 billion US dollars. Although it is lower than the target set at the beginning of the year, it is still at a high level.

Some netizens may be surprised, 2023 is obviously not over yet, the tail is still there, where does the economic value of the whole year come from? The answer is: based on the statistical results as of December 20 this year, on this basis, superimposed big data calculation.

In other words, the current publication of the national economic report is a "preliminary statistical result" and is customary. Unlike other countries, Vietnam's Department of Statistics is always the first to publish its economic report card at the end of the quarter. Subsequently, after obtaining more complete data, we will announce the confirmation value.

There are other highlights in the report

That is: the average population of Vietnam will increase to 100.3 million (100.3 million) in 2023, a year-on-year increase of 834,800. Among them, the number of people aged 15 and above in the labor force was 52.4 million, an increase of 666,500 over the previous year.

By the end of the fourth quarter of this year, the total number of employed people in Vietnam was 51.5 million, an increase of 414,600 over the same period last year, and the unemployment rate of working age was 2.26%, down 0.06 percentage points from the same period last year.

In the fourth quarter of 2023, the average income of employed persons in Vietnam was VND 7.3 million/month, an increase of VND 444,000 year-on-year. At the current exchange rate, the average monthly income of employed people in Vietnam is 2,136 yuan.

Congratulations to Vietnam's population for successfully exceeding 100 million, which is a sign of a country with a large population! Especially in the context of the transfer of the global industrial chain to South Asia and Southeast Asia, sufficient and relatively low-cost labor force has become an important weapon for Vietnam to attract foreign investment and promote the development of its own manufacturing industry.

From the perspective of long-term development, the structure of China's manufacturing industry is bound to be adjusted - transformation and upgrading, low-tech, labor-intensive industries to the backward countries, and the export of capital and technology. The strong takeaways are India, Mexico and Vietnam.

It has been argued that Vietnam's relative underpopulation – an order of magnitude less than China's, is the biggest constraint on the scale of Vietnam's manufacturing development and the size of its economy. It is also an important obstacle for Vietnam to compete with India, Mexico and other countries for this round of industrial transfer.

In retrospect, this view is a bit biased. Vietnam's population is not stagnant, China's low-end manufacturing industry is not completely outward, for Vietnam with a land area of only 330,000 square kilometers, a population of about 100 million, more than 50 million labor force is really abundant.

The membership of the Club of the World's Most Populous Countries has grown to 15

According to the World Bank, China and India both have more than 1.4 billion people, leading the world. The United States has the third largest population in the world with 333.3 million in 2022, and Indonesia is the fourth most populous with 275.5 million in 2022.

Pakistan, Nigeria and Brazil also have populations of 200 million. Among them, Pakistan has a population of nearly 236 million, Nigeria has a population of nearly 220 million, and Brazil has a population of more than 215 million in 2022.

Bangladesh has a population of 170 million in 2022, making it the eighth most populous country in the world, followed by Russia with a population of about 144 million, Mexico with a population of about 127.5 million, and Mexico with a population of about 127.5 million, followed by Japan, Ethiopia, the Philippines, and Egypt.

With the addition of Vietnam, the membership of the club of the world's most populous countries has increased to 15 this year. Wait for the Democratic Republic of the Congo (DRC) Statistics Office, because the country's population reached 99 million in 2022 and is expected to reach 100 million in 2023.

In other words, the number of the world's most populous countries will soon be 16. However, it is a pity that many of the above-mentioned countries have not enjoyed the demographic dividend, but have become a burden, with a weak national economic foundation and low living standards. This article is written by Nansheng, please do not reprint or plagiarize without authorization!