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Vietnam Today

Central GSO to calculate GRDP from 2017

Released at: 08:58, 25/05/2015

Central GSO to calculate GRDP from 2017

Discrepancies in national GDP determined by General Statistics Office and total of regional GDP reported by local offices lead to changes.

by Minh Tuyet

The central office of the General Statistic Office (GSO) will calculate gross regional domestic product (GRDP) from 2017 as part of a project to revamp the process for collating data and issuing statistics for cities and provinces, approved by Prime Minister Nguyen Tan Dung yesterday.

The project will apply international standards and use a single method to collate relevant data and calculate GRDP in order that figures are more precise. The method has three core features: input information, intermediate information, and intermediate output.

Cities and provinces have calculated their GRDP for the 2011 to 2015 period using the previous method, based on which development targets will be set.

The GSO said that the GRDP of 63 cities and provinces was 1.7-times the GDP determined for Vietnam as a whole, which is a major discrepancy and lowers belief in the figures released to the public.

Next year the GSO will work with its local offices to compile and release the GRDP. From 2017 local authorities need only submit information to the central GSO office, where calculations will be made.

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