Vietnam’s GDP growth estimated at 6.41% in nine months of 2017
Thursday, October 12,2017
AsemconnectVietnam - Gross domestic product in nine months of 2017 achieved an estimated growth of 6.41% compared with the same period last year, of which it increased by 5.15% in the first quarter; 6.28% in the second quarter; and it was estimated to grow by 7.46% in the third quarter.
The growth rate in nine months of this year is higher than the growth rate of 5.99% of the same period in 2016. This confirms the timeliness and effectiveness of the solutions issued by the Government, the drastic direction of all levels, sectors and the synchronous performance of localities. That is a possitive signal for the economy to achieve the growth target of 6.7% for the whole 2017.
In the growth rate of 6.41% of the entire economy in nine months of this year, the sector of agriculture, forestry and fishery increased by 2.78%, contributed 0.43 percentage points to the general growth; the sector of industry and construction rose by 7.17%, contributed 2.45 percentage points; the service sector climbed by 7.25%, contributed 2.80 percentage points.
In the growth rate of 6.41% of the entire economy in nine months of this year, the sector of agriculture, forestry and fishery increased by 2.78%, contributed 0.43 percentage points to the general growth; the sector of industry and construction rose by 7.17%, contributed 2.45 percentage points; the service sector climbed by 7.25%, contributed 2.80 percentage points.
In the sector of agriculture, forestry and fishery, the fishery achieved the highest growth rate of 5.42% against 2016’s same period, contributed 0.17 percentage points to the general growth rate; the forestry reached the growth rate of 5.00%, contributed 0.03 percentage points; the agriculture showed the signs of slowdown compared to the first half of the year when its growth rate was only 1.96%, contributed 0.23 percentage points to the general growth.
In the industrial and construction sector, the industry increased by 6.95%, lower than the growth rate of 9.86% and 7.40% of the same period in 2015 and 2016 respectively, mainly due to the mining and quarrying in nine months of this year fell by 8.08%, reduced 0.57 percentage points of the general growth. The highlight of this sector is the manufacturing with the increase rate of 12.77% (higher than that in the same period in 2016), contributed 2.15 percentage points. The construction maintained the fairly good growth with the rate of 8.30%, contributed 0.47 percentage points to the general growth.
In the service sector, the growth rates of some industries with large proportion were as follows: The wholesale and retail trade increased by 8.16% over the same period last year, it is the industry with the largest contribution to the general growth (0.75 percentage points); the accommodation and catering service grew by 9.00%, contributed 0.35 percentage points; the finance, banking and insurance climbed by 7.89%, contributed 0.40 percentage points; the real estate business moved up by 3.99%, contributed 0.22 percentage points.
About the structure of the economy in nine months of this year, the sector of agriculture, forestry and fishery took the proportion of 14.66%; the sector of industry and construction accounted for 32.50%; the service sector represented 42.67%; product taxes less subsidies on production accounted for 10.17%.
In terms of GDP use in nine months, the final consumption rose by 7.30% from the similar period in 2016, contributed 8.76 percentage points to the general growth; accumulated assets grew by 9.80%, contributed 4.78 percentage points; trade balance of goods and services in trade deficit made the general growth rate decrease 7.13 percentage points.
Source: General Statistics Office
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