Vietnam’s GDP growth at 5.54pct in Jan-Sep: MoPI

27-Sep-2014 Intellasia | Dau Tu | 9:00 AM Print This Post

Vietnam’s economic growth in the first nine months of the year was reported at 5.54 percent against the same period last year by the Ministry of Planning and Investment (MoPI) at a recent meeting.

Particularly, agro-forestry and fisheries sector posted a growth of 3.17 percent, industry and construction sector saw a growth of 6.12 percent while the growth of service sector was 6.02 percent.

“This growth rate was lower than that of the same period last year (5.69 percent)”, Bui Ha, director of the Department for National Economic Issues under the MoPI said.

In details, Bui Ha, said, the country’s index of industrial production (IIP) in September 2014 dropped 0.4 percent from August but still increased 8.6 percent against the same period last year.

The country’s IIP in Jan-Sep was estimated to rise 6.7 percent on year.

In the industrial production, the manufacturing and processing industry sector saw a growth of 8.3 percent on year, mainly thanks to the growth of some main sectors such as textile (up 18.8 percent), leather and its product production (up 20.7 percent), electronic products, computer and optical products (up 35.9 percent).

The ministry’s report also showed export and import activities reached satisfactory results in Jan-Sep, with total export turnover of $109.6 billion, while the import value was estimated at $107.2 billion, leading to a trade surplus of about $2.47 billion in Jan-Sep, equalling to 2.25 percent of the country’s total export turnover.

FDI companies (excluding crude oil) enjoyed a trade surplus of $6.9 billion and it would be $12.7 billion if including crude oil. Meanwhile, local firms ran a trade deficit of $10.23 billion in Jan-Sep.

 

Category: Economy, Vietnam

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