Illustrative image (Source: VNA)

Hanoi (VNA) – The General Statistics Office (GSO) and the International Monetary Fund (IMF) are working together toreview the methods to evaluate the Gross Domestic Product (GDP) scale of Vietnam.

The partnership, lasting from April 8-12, aims to properly assess the transformation of the country’s economy in 2018.

The GSO has conducted the re-evaluation of the GDP scale basing on data from economic census as well as the rural, agricultural and fishery survey in 2016.

Under the Government’s request, the agency has chosen the IMF, a prestigious independent organisation, to partner in reviewing its method of assessment.

The outcomes of the evaluation will serve as important references for the Government to design a socio-economic development plan for 2021-2025 and the next decade.

According to the GSO, Vietnam’s GDP grew by 7.08 percent in 2018, the highest rate in the past 11 years.

The agro-forestry-fishery sector expanded 3.76 percent and made up 8.7 percent of the overall growth. 

The industry-construction sector recorded an 8.85 percent increase and made up 48.6 percent of the GDP growth, while the figures for the services sector were 7.03 percent and 42.7 percent, respectively.-VNA