Economic and bilateral ties are to top the agenda of discussions between Nigeria and Vietnam when Vice President Yemi Osinbajo undertakes an official visit to the South-East Asian nation later in the year. The country, with a 70 per cent ease-of-doing-business ranking as of 2020, is ranked in the developing/emerging country group with a lower-middle-income economy, with the nominal gross domestic product (GDP) in excess of $355 billion and a purchasing power parity of $1.142 trillion in 2021.
With a population of 97.46 million by 2019, and an unemployment rate of 3.3% by 2020, the economy of Vietnam is a socialist-oriented economy, which is the 36th largest in the world as measured by nominal gross domestic product (GDP) and 23rd largest in the world as measured by purchasing power parity (PPP).
Vietnam is a member of the Asia-Pacific Economic Cooperation (APEC), Association of Southeast Asian Nations (ASEAN) and the World Trade Organisation (WTO)