Vietnam’s GDP rises 5.57% in h1/2011

Vietnam gross domestic product (GDP) is estimated to have risen by 5.57% in the first half of this year, lower than 6.16% recorded in the same period last year of 2010, the General Statistics Office of Vietnam said.

The GSO’s data also showed that GDP was estimated to quicken 5.67% in Q2/2011 compared to 5.43% in the previous quarter, yet down 73 bps on year.

The highest growth was seen in industry and construction sector which soared 6.49% in H1/2011, followed by service field (+ 6.12%), and agriculture, forestry and fisheries sector (+ 2.08%).
Earlier, Vietnam cut its 2011 economic growth target to 6.5% from an initial target range of 7%-7.5%, Minister of Planning and Investment Vo Hong Phuc said at an annual meeting of the Asian Development Bank in early May this year.

“Vietnam will now focus on taming inflation this year,” Phuc said, adding that consumer prices have already risen by 9.64% as of the end of April compared with the end of 2010. “The task is very challenging in the remaining months of the year. – Stoxplus.com

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

Posted by VBN on Jun 28 2011. Filed under Economy News, GDP. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry