Eye-catching GDP recorded

Vietnam’s gross domestic product exploded by  5.76 per cent during January-September.

The country’s GDP mounted to VND406.308 trillion or $19.62 billion based on 1994’s comparative prices, surging 5.76 per cent against corresponding period in 2010, according to General Statistics Office statistics.

The industrial sector grew the fastest at 6.62 per cent in the year ending September, following by the services sector with 6.24 per cent. The agricultural sector, however, just saw a slight growth of less than 2.4 per cent.

Compared to the same period in five recent years, January-September’s GDP growth this year was just higher than recession-hit 2009’s 4.59 per cent. The growth was phenomenal in 2007 at 8.16 per cent and stood at 6.52 per cent in 2008 and 2010’s same period, according to vnExpress.net.

The Vietnamese government and the National Assembly initially set GDP growth for 2011 at 7-7.5 per cent. The figure, however, was later scaled down to 6.5 per cent, and then 6 per cent in the face of a vulnerable economy.

The government assumed Vietnam would still face multiple challenges in 2011’s remaining months, but things would evolve in a positive manner.

“The full-year GDP growth of 6 per cent is still achievable if we do a smart job with macroeconomic management,” said Government Office chairman Vu Duc Dam.

Tags: Vietnam economic, Vietnam economic growth, Vietnam economy, Vietnam economy 2011, Vietnam GDP 2011

Posted by VBN on Sep 23 2011. Filed under Economy News. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry