Vietnam’s nine-month GDP increases by 4.24%: General Statistics Office

Vietnam’s gross domestic product (GDP) in the first nine months of this year rose by 4.24 per cent from the same period last year, the General Statistics Office (GSO) announced on September 29.

In the third quarter, the country's economic growth rate was estimated at 5.33 per cent compared to the same quarter of 2022.

Vietnam’s nine-month GDP increases by 4.24% | Business | Vietnam+ (VietnamPlus)
Vietnam’s nine-month GDP increased by 4.24 per cent.

The GSO assessed that although the nine-month growth rate is only higher than those in the same period of 2020 and 2021 in the past 12 years, it showed a positive trend of increasing gradually over the quarters: 3.28 per cent in the first quarter, 4.05 per cent in the second quarter and 5.33 per cent in the third quarter.

In the January-September period, the agro-forestry-fishery sector expanded by 3.72 per cent, contributing 8.03 per cent to the total added value of the entire economy. The growth rates of the industrial and construction sector and the service industry were 5.19 per cent and 6.24 per cent with contribution proportions of 38.63 per cent and 53.34 per cent, respectively.

Amidst common difficulties and challenges of the world economy, most international organizations have revised their forecasts of Vietnam’s growth rate for 2023 based on results and forecasts of domestic production and business activities and the impact of the world economy.

The Vietnamese Government and Prime Minister Pham Minh Chinh have directed ministries, sectors, and localities to implement drastic measures to solve difficulties, promote growth, and maintain macroeconomic stability and major balances of the economy.

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(Source: VNA)