Illustrative image (Photo: VNA) Hanoi (VNA) – Vietnam’s grossdomestic product (GDP) expanded by 1.42 percent in the first nine months of2021 from the same period last year, marking a great success of the country inthe fight against the COVID-19 pandemic and maintaining production and businessamid the prolonged period of social distancing in many provinces and cities.
Data from the General Statistics Office (GSO)showed that the nation’s GDP declined by 6.17 percent annually in the thirdquarter, the sharpest drop since Vietnam began announcing its quarterly GDP figures in 2000. Of which,industry and construction contracted by 5.02 percent, services down 9.28percent, and agro-forestry-fishery down 1.04 percent.
About the use of GDP inthe third quarter, consumption was down 2.83 percent year-on-year, assetaccumulation up 1.61 percent, exports of goods and services up 2.51 percent,and imports of goods and services moved up 10.75 percent.
The nine-month GDP growth wasthanks to the agro-forestry-fishery sector with an expansion rate of 2.74percent, contributing 23.52 percent to the overall growth; industry andconstruction with a growth rate of 3.57 percent, contributing 98.53 percent.Meanwhile, services were down 0.69 percent, pulling national growth down by22.05 percent.
Agro-forestry-fisheries continued to play its role as a mainstay of the economyamid the pandemic. Specifically, agriculture grew by 3.32 percent, contributing0.31 percentage point to the added value of the economy. Forestry and fisherieseach added 0.02 percentage point thanks to their respective expansion rates of3.3 percent and 0.66 percent.
Meanwhile, industry andconstruction, manufacturing and processing are growth driving forces of theeconomy with an expansion of 6.05 percent, contributing 1.53 percentage pointsto the added value of the entire economy.
The prolonged pandemicbadly affected trade and service activities. The wholesale and retail sector fell by 3.1 percent, the transportation and warehousing industry decreased by 7.79 percent and the accommodation and food service industry dropped by 23.18 percent.
The health sector, in contrast, achieved the highest growth rate with a sharp increase of 21.15 percent, followed by the financial, banking and insurance industry with an increase of 8.37 percent and information and communication, up by 5.24 percent./.
