Hanoi GDP estimated to expand 9.2% in Q1 2011

Gross domestic product (GDP) Hanoi, the capital city, is estimated to have expanded 9.2% in the first quarter of this year

Gross domestic product (GDP) Hanoi, the capital city, is estimated to have expanded 9.2% in the first quarter of this year, the Hanoi Statistic Office said.

Industrial sector had the highest increase of 10.3%, followed by service sector with 8.7% and agro-forestry and seafood with 2.8% in the first three month, the office said.

Retail sales and service revenue posted an on-year growth of 22.7%. The city’s industrial output rose by 13.1% and investment and development capital increased by 10.4%.

The city’s export and import revenue are estimated to rise by 28.1% and 14.4% from 2010, respectively, raising its trade gap to $3.3 billion in the first quarter.

Vietnam’s capital set GDP target at 12% this year, Nguyen The Thao, Chairman of the City People’s Committee said at the congress hold on February 22.

In 2010, Hanoi’s GDP expanded 11% from a year earlier. – Stoxplus.com

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