Question

In: Economics

Write a report on trade, employment and wages in Vietnam.

Write a report on trade, employment and wages in Vietnam.

Solutions

Expert Solution

Answer :

Vietnam gained enoromous success with high growth and rapid shift in economic structure . The thesis begins with an interpretative survey of the theoretical and empirical literature on manufacturing employment and wages in a labour-abundant economy , in order to provide the analytical context for the Vietnam case study . The findings suggest that the reforms have resulted in a significant shift in the pattern of labour absorption in the economy from the agriculture to manufacturing over the past three decades .

The U.S. goods trade deficit with Vietnam was $39.5 billion in 2018 . Trade in services with Vietnam (exports and imports) totaled an estimated $3.7 billion in 2018 . Services exports were $2.5 billion ; services imports were $1.3 billion . The U.S. services trade surplus with Vietnam was $1.2 billion in 2018 .

The number of employed laborers in Vietnam increased from 53.3 million in 2016 to 53.7 million in 2017. Employed laborers in agriculture , forestry , fishery decreased from 22.3 million in 2016 to 21.6 million in 2017, while industry and construction saw an increase from 13.2 million in 2016 to 13.8 million in 2017. Services also witnessed a growth from 17.8 million in 2016 to 18.3 million in 2017.

The average monthly salary of a worker in Vietnam is about $148 per month ; those in high paying jobs bring home around $500 per month. Visas : The most common visa for Vietnam is a single-entry three-month visa.


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