Illustrative image (Photo: Reuters) Bangkok (VNA) - Thailand’s economy expanded at the slowest pace in almost five years in the second quarter of 2019 as exports and tourism deteriorated due to impacts from the US-China trade war and the strong baht. The country’s gross domestic product (GDP) increased 2.3 percent as compared to the same period last year, lower than the figure of 2.8 percent in the first quarter, the National Economic and Social Development Council (NESDC) said on August 19. That was the slowest pace since the third quarter of 2014. The growth was in line with the median estimate of 2.3 percent in a Bloomberg survey of economists. NESDC reduced its forecast for 2019 growth to 2.7-3.2 percent from 3.3-3.8 percent predicted in May. It also sharply revised its estimate for this year's exports, now seeing 1.2 percent reduction instead of 2.2 percent growth. NESDC Secretary-General Thosaporn Sirisumphand said a slowdown both domestically and abroad … [Read more...] about Thailand’s second-quarter GDP growth slowest since 2014
Quarterly gdp growth rate
First – quarter GDP growth estimated at 6.79 percent
At the press briefing. The information was released at a regular press briefing held by the General Statistics Office of Vietnam (GSO) in Hanoi on March 29. The first quarter of 2019 saw the GDP value surge by an estimated 6.79 percent on year, much higher than the ratios seen in the same quarter of the 2011-17 period. Agro-forestry-aquatic production in particular saw a growth rate of 2.68 percent, making a proportion of 4.9 percent of the GDP value. While growing by 8.63 percent, industrial production and construction accounted for 51.2 percent of the GDP value. Service sector witnessed a growth rate of 6.5 percent, representing 43.9 percent of the GDP. Vietnam’s economic growth in the three-month period was mainly driven by processing and manufacturing sector with a growth level of 12.35 percent. By contrast, mining industry suffered a negative growth rate of 2.2 percent. GM_EN_PC_ARTICLE_Native_ads Nguyen Bich Lam, head of the GSO, said that despite adverse … [Read more...] about First – quarter GDP growth estimated at 6.79 percent
Hanoi reports 6.99 percent GDP growth in Q1
Nhat Tan bridge in Hanoi (Source: VNA) Hanoi (VNA) – Hanoi has recorded a GDP growth rate of 6.99 percent in the first quarter of this year, equivalent to the same period in 2018, it was reported at a meeting of the municipal People’s Committee on March 26. The service sector expanded by 7.08 percent in the quarter, while the industry-construction sector grew by 7.13 percent, and the agro-forestry-fisheries by 2.57 percent. According to Director of the city’s Department of Planning and Investment Nguyen Manh Quyen, there was a surge in the inflow of foreign investment into Hanoi, with 4.04 billion USD worth of direct and indirect investment, a 10-time increase year on year. The city collected 68.1 trillion VND (2.92 billion USD) for the State budget in the period, equivalent to 28.6 percent of the estimate, and up 30.3 percent year on year. However, several sectors experienced a growth rate lower than the same period last year, including industrial production, … [Read more...] about Hanoi reports 6.99 percent GDP growth in Q1
Việt Nam’s GDP growth forecast at 6.9%: Standard Chartered
A woman shops at a supermarket. Standard Chartered Bank projects Việt Nam’s GDP growth at 6.9 per cent in 2019. — Photo bizlive.vn Viet Nam News HCM CITY — Standard Chartered Bank expects Việt Nam to grow at a steady 6.9 per cent in 2019, as the focus shifts to sustainable growth, while FDI-driven manufacturing and stronger domestic activity is likely to support growth. This forecast was highlighted at Standard Chartered’s Global Research Briefing held on Wednesday in HCM City, drawing senior representatives from over 120 local and foreign corporate clients. The annual event discussed Standard Chartered’s recently published Global Focus - Economic Outlook 2019 report entitled “Fighting the current”, and its latest Global Research report on Việt Nam entitled “Việt Nam in 2019 – Steady and Sustainable Growth”. “Most macro-economic indicators improved in 2018, interest and foreign exchange rates … [Read more...] about Việt Nam’s GDP growth forecast at 6.9%: Standard Chartered
ADB keeps Vietnam GDP growth forecast in 2018 unchanged at 6.9%
The Hanoitimes - The bank expects the country’s inflation rate to hit 4% in 2018 and 4.5% in 2019, exceeding the State Bank of Vietnam (SBV)’s target of 4%. The Asian Development Bank (ADB) has maintained its forecast for Vietnam’s GDP growth rate for 2018 and 2019 at 6.9% and 6.8%, respectively, according to the bank’s latest report. Source: ADB. Vietnam saw GDP growth in the first three quarters of 2018 reaching 7.0%, improving from 6.4% a year earlier, stated the report. Growth was propelled by solid performances in agriculture, industry, and services. Agriculture grew by 3.7% in the first three quarters, up from 2.9% last year thanks to robust production growth in fisheries, forestry, and farming. Industry expanded by 9.0%, from 6.9% a year earlier on the strength of a 12.7% rise in manufacturing output. Construction grew by 8.5%. Driven by a hefty rise in tourist arrivals and robust banking activity, services expanded by … [Read more...] about ADB keeps Vietnam GDP growth forecast in 2018 unchanged at 6.9%