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
Quarterly gdp growth rate
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%
Vietnam’s GDP growth to surpass 7% in 2018: Brokerage
The Hanoitimes - In order to achieve the growth target of 6.7% for 2018, the Vietnamese economy would need to increase by around 6.1% in the fourth quarter. Ho Chi Minh Securities Corporation (HSC) predicted that Vietnam's GDP growth target of 6.7% in 2018 is feasibl and could even go beyond the 7% mark. Illustrative photo. Vietnam posted year-on-year GDP growth of 6.98% in the first three quarters of 2018, the best first-nine-month performance since 2011. As a result, in order to achieve the growth target of 6.7% for 2018, the local economy would need to expand by around 6.1% in the fourth quarter, stated HSC in its latest report. This scenario is achievable, especially when the average growth rate of the fourth quarter in the last five years was 6.87%, HSC added. HSC assumed that the growth rate of the fourth quarter of 2018 may be in range of 6.1 - 6.8%, resulting in an overall growth rate of 6.7 - 6.9% for the whole year. The rate may even reach 7 - … [Read more...] about Vietnam’s GDP growth to surpass 7% in 2018: Brokerage
Jan-Sept GDP growth highest since 2011
Jan-Sept GDP growth highest since 2011By Thuy Dung A laborer is seen working at a company. According to the General Statistics Office, GDP growth rate for the January-September period was 6.98%, the highest rate for the nine-month period since 2011 – PHOTO: THUY DUNG HANOI – Vietnam’s gross domestic product (GDP) growth rate for the January-September period was 6.98%, the highest rate for the nine-month period since 2011, the General Statistics Office said in a September 28 report to update the socio-economic situation for this year. However, the growth rate was lower than the first quarter’s growth of 7.45%, but higher than the second quarter’s 6.73% growth, indicating a continuing momentum of growth throughout the economy. The construction industry recorded the highest growth rate, at 8.61%, followed by the service sector with a 6.87% increase. Meanwhile, agriculture, forestry and fisheries as usual saw the lowest growth, at only 3.46%. The GDP … [Read more...] about Jan-Sept GDP growth highest since 2011
Aim for GDP growth of 6.7%: Government
People shop at a night market in Hang Dao Street, Hoan Kiem District in Ha Noi. Viet Nam gained decade-high GDP growth of 7.38 per cent in the first quarter of this year. — VNA/VNS Photo Vu Sinh The decade-high GDP growth of 7.38 per cent achieved in the first quarter may not be easy to replicate for the rest of the year. The government, however, will strive towards a year-on-year growth rate of 6.7 per cent. Prime Minister Nguyen Xuan Phuc said this during the monthly government meeting on Monday in Ha Noi. He asked the Cabinet to “contribute constructively” to the 2018 economic growth scenario to achieve this target, which is higher than the 6.5 per cent growth rate set by the National Assembly last year. The morning session was also amongst the rare ones, with socio-economic affairs, especially the development of growth scenarios, were discussed first instead of the usual law issues. In his opening speech, Phuc also lauded the growth of several sectors in the … [Read more...] about Aim for GDP growth of 6.7%: Government