Vietnam records GDP growth of 2.12% over nine months
The national economy is anticipated to grow by 2.62% in the third quarter, which is much higher than the Q2 figure (0.39%) but lower than the Q1 figure (3.68%).
Though the nine-month growth figure was the lowest in the past 10 years, it was considered a success for Vietnam given the complex nature of the COVID-19 pandemic which has taken its toll on all economies globally, including Vietnam, Nguyen Thi Huong, GSO director told a press briefing in Hanoi on September 29.
Huong attributed the positive results to the government’s swift response to the resurgence of the SARS-CoV-2 virus, by implementing bold measures to contain it. To date all coronavirus outbreaks in localities have been brought under control, and the government has been working towards a dual goal of epidemic prevention and economic recovery.
Thanks to the government’s measures, the national economy has been put on track, obtaining initial encouraging results. Most notably, the country’s macroeconomy also remained stable in the third quarter. Major economic indicators such as the agro-forestry-fisheries, industry and construction, and service sectors recorded increases of 1.84%, 3.08%, and 1.37%, respectively.
Meanwhile, consumption rose by 1.19% against the same period last year, while asset accumulation enjoyed an increase of 5.79%, with the export and import of goods and services increasing by 2.86% and 1.88%, respectively.
At a regular monthly Cabinet meeting for August, Prime Minister Nguyen Xuan Phuc voiced his hope that Vietnam will achieve a GDP growth rate of between 2-3% this year.
Related News
Wood exports started well
13:26 | 20/04/2024 Import-Export
Leverage to increase the scale of Vietnam - Laos trade turnover
10:51 | 15/04/2024 Import-Export
Vietnam-China trade reaches over US$ 27 billion
09:29 | 10/04/2024 Import-Export
How more than 6 tons of smuggled gold transported to Vietnam?
07:49 | 05/04/2024 Anti-Smuggling
Latest News
Standard Chartered revises down Vietnam’s GDP growth forecast in 2024 to 6%
13:51 | 25/04/2024 Headlines
Investor confidence gains traction on improved business climate
13:46 | 25/04/2024 Headlines
Vietnam's exports to Canada lead among CPTPP countries
09:41 | 25/04/2024 Headlines
Many new regulations aim to drastically remove the IUU "Yellow Card"
15:36 | 24/04/2024 Headlines
More News
PM chairs meeting of national committee for digital transformation
13:42 | 24/04/2024 Headlines
Seize the golden opportunity as retail giants look for supplies in Vietnam
10:34 | 24/04/2024 Headlines
Government’s action programme cracks down on illegal fishing
13:53 | 23/04/2024 Headlines
PM calls on ASEAN to pen strategic development vision
13:50 | 23/04/2024 Headlines
Forum to discuss new initiatives on ASEAN future vision: Deputy FM
15:13 | 22/04/2024 Headlines
Investors play a key role in developing the industrial park system
10:38 | 22/04/2024 Headlines
Green transformation and ESG practice to participate in the global competition
18:11 | 21/04/2024 Headlines
Factors influencing Vietnam’s FMCG market
18:06 | 21/04/2024 Headlines
Shrimp exports to major markets bounce back
17:57 | 21/04/2024 Headlines
Your care
Standard Chartered revises down Vietnam’s GDP growth forecast in 2024 to 6%
13:51 | 25/04/2024 Headlines
Investor confidence gains traction on improved business climate
13:46 | 25/04/2024 Headlines
Vietnam's exports to Canada lead among CPTPP countries
09:41 | 25/04/2024 Headlines
Many new regulations aim to drastically remove the IUU "Yellow Card"
15:36 | 24/04/2024 Headlines
PM chairs meeting of national committee for digital transformation
13:42 | 24/04/2024 Headlines