GSO: Vietnam’s GDP expands 6.41 pct in nine months

 

Hanoi (VNA) –Vietnam’s gross domestic product (GDP) in the first nine months of 2017 grew about 6.41 percent as compared to the same period last year, reported the General Statistics Office (GSO).

GSO General Director Nguyen Bich Lam said at a press conference in Hanoi on September 29 that the country’s GDP growth rate in the third quarter posted a record high of 7.46 percent, while the figures in the second and first quarters were 6.28 percent and 5.15 percent, respectively.

Lam said breakthroughs have been made in the processing and manufacturing sector and export activities. Besides, structural transformation in rural areas, forestry and fisheries sectors has proven effective, he added.

According to GSO, the nine-month GDP growth rate was mainly contributed by the agro-forestry-fishery sector, along with industry, construction, and services. Processing and manufacturing also made a big stride in the third quarter with a rise of 16.63 percent, the highest level since 2011.

Pham Quynh Loi, Deputy Director of the Trade and Services Statistics Department, said the country’s export turnover in the first nine months of this year was estimated at 154 billion USD, up 19.8 percent year-on-year.

The consumer price index (CPI) in September rose by 0.59 percent from the previous month and by 3.4 percent over the corresponding time last year. The average CPI in the nine months was up 3.79 percent as compared with the same period of 2016.

The target of curbing inflation and keeping the CPI in 2017 below 4 percent is achievable, said Vu Thi Thu Thuy, Director of the Price Statistics Department.

Between January and September, Vietnam attracted 25.5 billion USD in foreign direct investment (FDI), a rise of 34.3 percent year-on-year. Meanwhile, 12.5 billion USD of FDI capital was disbursed in the reviewed period.

As many 93,967 enterprises registered to establish with a total registered capital of 902.7 trillion VND (around 39.7 billion USD), up 15.4 percent in number and 43 percent in capital. In addition, 21,100 businesses in the country resumed operations, a year-on-year rise of 2.9 percent.

However, there remained limitations in State budget collection and spending, plus losses caused by natural disasters and complex developments of dengue, heard the conference.

In order to reach the growth target of 6.7 percent set for the whole year, it is a must to gain a growth rate of 7.31 percent in the last quarter, Lam said, noting that the goal is achievable thanks to the concerted efforts of the government, ministries and sectors.-VNA