GDP up 6.5% year-to-date and 6.81% in Q3.
The General Statistics Office (GSO) has released GDP data to September 2015. GDP growth in the third quarter of the year is estimated at 6.81 per cent while the nine month figure is estimated at 6.5 per cent. This is the highest growth recorded in the period in recent times. Growth in the first nine months from 2011 to 2014 was 6.03 per cent, 5.1 per cent, 5.14 per cent, and 5.53 per cent, respectively.
Of the three major fields in the economy, industry and construction saw the highest growth, of 9.57 per cent, followed by service with 6.17 per cent and agriculture, forestry and fishery with 2.08 per cent.
The goal for GDP growth this year was set 6.2 per cent, which has already been surpassed, marking the continuing recovery of the economy.
Mr. Nguyen Bich Lam, General Director of the GSO, said that the level of growth can be maintained despite complex movements in commodity markets and the global financial market. Inflation continues to be kept at a low level (0.4 per cent year-to-date). Macro-economic policies being implemented promptly and flexibly along with measures removing the difficulties facing enterprises were factors that helped business improve tremendously.
There have been 68,347 newly-registered enterprises so far this year, with total registered capital of VND420.9 trillion ($18.72 billion), a 28 per cent increase in number and 31 per cent in capital compared to the first nine months of 2014.
Notable changes in first nine months compared to 2014:
Total production: increasing 6.5 per cent
Industrial Production Index: up 9.8 per cent
Total retail sales of goods and services: 9.8 per cent higher
Total exports: up 9.6 per cent
Total imports: up 15.9 per cent
Foreign tourist arrivals: down 5.9 per cent