HCM City ’s economy is beginning to show signs of recovery as its GDP for the first nine months of the year recorded at 221.5 billion VND, up 6.1 percent compared with the same period last year.
According to the municipal Statistics Office, the biggest rise was recorded in the service sector with 3.16 percent, followed by the industry and construction sector, with 2.87 percent.
The city’s economic panorama was lighted with the GDP’s growth of 4 percent in the first quarter, 5.2 percent in the second quarter and 8.5 percent in the third quarter.
The result was attributable to the city’s efforts to bring inflation under control as well as its investment and demand stimulus measures, said economists.
The city’s consumer price index dropped from 14.0 percent in the first quarter to 10.5 percent in the second quarter and to 8.2 percent in the third quarter.
Its industrial production value increased by 6.4 percent in the first nine months, with growths seen in the electronics, automobile and other sectors reported the municipal Industry and Trade Department.
The city is expected to record a year-on-year rise of 7.2 percent in industrial value in 2009.
However, the city’s export revenues only reached 13.8 billion USD or a year-on-year drop of 21.6 percent in the first nine months.
Along with developing the domestic market, the department has been assigned to boost trade promotion activities abroad and expand export outlets in a bid to raise the city’s export value./.
According to the municipal Statistics Office, the biggest rise was recorded in the service sector with 3.16 percent, followed by the industry and construction sector, with 2.87 percent.
The city’s economic panorama was lighted with the GDP’s growth of 4 percent in the first quarter, 5.2 percent in the second quarter and 8.5 percent in the third quarter.
The result was attributable to the city’s efforts to bring inflation under control as well as its investment and demand stimulus measures, said economists.
The city’s consumer price index dropped from 14.0 percent in the first quarter to 10.5 percent in the second quarter and to 8.2 percent in the third quarter.
Its industrial production value increased by 6.4 percent in the first nine months, with growths seen in the electronics, automobile and other sectors reported the municipal Industry and Trade Department.
The city is expected to record a year-on-year rise of 7.2 percent in industrial value in 2009.
However, the city’s export revenues only reached 13.8 billion USD or a year-on-year drop of 21.6 percent in the first nine months.
Along with developing the domestic market, the department has been assigned to boost trade promotion activities abroad and expand export outlets in a bid to raise the city’s export value./.
