Vietnam GDP growth highest in seven years

Malaysia stops imports from North Korea, closes embassy in Pyongyang
Ho Chi Minh Mausoleum Hanoi © Arno Maierbrugger

Vietnam’s economic growth in the third quarter was the highest in seven years, though overall inflation also started inching up in August and continued throughout September after a sharp decline since the start of the year, the Vietnam Institute for Economic and Policy Research (VEPR) found in a new analysis of the country’s rapidly expanding economy. 

According to Nguyen Duc Thanh, VEPR director, quarterly growth for the third quarter gross domestic product was 7.46 per cent, an improvement of 0.27 percentage points from the second quarter, with a forecast of 7.12 per cent for the fourth quarter, bringing the expected annual growth rate to 6.64 per cent.

In particular, the agricultural and service sectors have improved their performance, with construction and manufacturing industries growing 12.77 per cent quarter on quarter. Other industrial productivity indicators were also positive.

In the fourth quarter, consumer demand and investment demand is expected to increase sharply as the pace of construction investment disbursement is accelerated. At the same time, exports will likely continue to rise sharply due to favourable developments in the world economy, as well as global trade growth.

Meanwhile, with food price recovery, credit growth and disbursement pressure, as well as upward adjustment in electricity and public service prices, the fourth quarter inflation rate will mostly likely increase to 4.16 per cent, exceeding the annual target rate of 4 per cent.



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[caption id="attachment_30535" align="alignleft" width="300"] Ho Chi Minh Mausoleum Hanoi © Arno Maierbrugger[/caption] Vietnam’s economic growth in the third quarter was the highest in seven years, though overall inflation also started inching up in August and continued throughout September after a sharp decline since the start of the year, the Vietnam Institute for Economic and Policy Research (VEPR) found in a new analysis of the country's rapidly expanding economy.  According to Nguyen Duc Thanh, VEPR director, quarterly growth for the third quarter gross domestic product was 7.46 per cent, an improvement of 0.27 percentage points from the second quarter, with a forecast...

Malaysia stops imports from North Korea, closes embassy in Pyongyang
Ho Chi Minh Mausoleum Hanoi © Arno Maierbrugger

Vietnam’s economic growth in the third quarter was the highest in seven years, though overall inflation also started inching up in August and continued throughout September after a sharp decline since the start of the year, the Vietnam Institute for Economic and Policy Research (VEPR) found in a new analysis of the country’s rapidly expanding economy. 

According to Nguyen Duc Thanh, VEPR director, quarterly growth for the third quarter gross domestic product was 7.46 per cent, an improvement of 0.27 percentage points from the second quarter, with a forecast of 7.12 per cent for the fourth quarter, bringing the expected annual growth rate to 6.64 per cent.

In particular, the agricultural and service sectors have improved their performance, with construction and manufacturing industries growing 12.77 per cent quarter on quarter. Other industrial productivity indicators were also positive.

In the fourth quarter, consumer demand and investment demand is expected to increase sharply as the pace of construction investment disbursement is accelerated. At the same time, exports will likely continue to rise sharply due to favourable developments in the world economy, as well as global trade growth.

Meanwhile, with food price recovery, credit growth and disbursement pressure, as well as upward adjustment in electricity and public service prices, the fourth quarter inflation rate will mostly likely increase to 4.16 per cent, exceeding the annual target rate of 4 per cent.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

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Personal Info

Donation Total: $10.00

 

 

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