HCMC GDP rises 10.1% in Q1 2011

Ho Chi Minh City (HCMC)’s Gross Domestic Product (GDP), the biggest cities in Vietnam, is estimated to expand 10.1% to VND85.5 billion in the first quarter

Ho Chi Minh City (HCMC)’s Gross Domestic Product (GDP), the biggest cities in Vietnam, is estimated to expand 10.1% to VND85.5 billion in the first quarter, Le Hoang Quan, Chairman of Ho Chi Minh City People’s Committee said at the regular meeting on March.

Service, industry and construction, and agriculture sectors are estimated to rise 10%, 10.9% and 4.1%, respectively.

Retail sales and service revenue are estimated to rise 20.4%, industrial output climbed 13.6% and export turnover reached $5.573 billion, up 20.7% on-year.

HCMC consumer price index (CPI) is estimated to have increased to the highest level in 16 months of 2.2% on-month in March 2011, raising CPI first quarter to 4.89% on cost-push factors of higher fuel and electricity prices.

HCMC and Hanoi city target GDP growth at 12-13% each year in the 2011-2015 periods, 2.5 times higher than the country’s GDP growth, the state-run Vietnam News Agency reported on March 11.

Last year, the city saw a 12% GDP growth. – Stoxplus.com

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