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Vietnam Today

GDP growth at five-year high

Released at: 16:47, 27/12/2015

GDP growth at five-year high

Growth of 6.68% for 2015 exceeds target of 6.2%.

by Quynh Nguyen

The General Statistics Office has announced GDP growth in 2015 of 6.68 per cent; the highest level in five years.

GDP in the fourth quarter was 7.01 per cent, outpacing the first quarter’s result of 6.12 per cent, the second quarter’s 6.47 per cent, and the third quarter’s 6.87 per cent.

Growth this year exceeded the target of 6.2 per cent set at the beginning of the year and was higher than the 6.25 per cent recorded in 2011, 5.25 per cent in 2012, 5.42 per cent in 2013, and 5.98 per cent in 2014.

Agriculture growth was 2.41 per cent for the year, contributing to 0.4 percentage points to overall growth, the industry and construction sector rose 9.64 per cent, contributing 3.2 percentage points, and the services sector increased 6.33 per cent, contributing 2.43 percentage points.

The size of the economy was put at VND4,193 trillion ($187 billion) and GDP per capita estimated at VND45.7 million ($2,109), up $57 against 2014.

As at December 12 State budget revenue had reached VND884.8 trillion ($38.9 billion) this year, equal to 97.1 per cent of the estimate. State budget expenditure was VND1,064.5 trillion ($46.8 billion), equal to 92.8 per cent of the estimate.

There were 2,013 new foreign direct investment (FDI) projects licensed and 814 existing projects increased their capital, with total capital standing at $22.76 billion as at December 15. Disbursed FDI capital reached $14.5 billion, up 17.4 per cent compared with 2014.

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