Median age of the population in Vietnam 2015
The median age in Vietnam was 30.5 years in 2015, meaning that half the population was younger than this at the time, and half older. This figure has increased since its low point in 1970, which was likely due to the Vietnam War. The median age is expected to increase to 41 years by 2050.
Age structure
The age structure in Vietnam changes slowly as people get older. This suggests that other demographic indicators are also slow to evolve, which in turn points to stability. This fact is convenient for policy makers, who can then rely on a consistent ratio of pensioners and students to workers. This is helpful in taxation and allocation of government spending. However, it also points to slow inprovement in indicators such as life expectancy.
Economic implications
Given Vietnam’s Communist government, it is not surprising that a large portion of its gross domestic product (GDP) comes from government expenditures. As such, the country needs a broad tax base. Since people’s earning potential rises with age until they retire, a relatively high median age is necessary to bear this tax burden. A low unemployment rate further bolsters this effect. This implies that the current demographic situation in Vietnam is sustainable.
Age structure
The age structure in Vietnam changes slowly as people get older. This suggests that other demographic indicators are also slow to evolve, which in turn points to stability. This fact is convenient for policy makers, who can then rely on a consistent ratio of pensioners and students to workers. This is helpful in taxation and allocation of government spending. However, it also points to slow inprovement in indicators such as life expectancy.
Economic implications
Given Vietnam’s Communist government, it is not surprising that a large portion of its gross domestic product (GDP) comes from government expenditures. As such, the country needs a broad tax base. Since people’s earning potential rises with age until they retire, a relatively high median age is necessary to bear this tax burden. A low unemployment rate further bolsters this effect. This implies that the current demographic situation in Vietnam is sustainable.
