General Director of the General Statistics Office (GSO) Nguyen Bich Lam revealed the information at a press conference in Hanoi on December 27 to announce socio-economic indexes in 2017.
The agro-forestry-fishery sector is expected to increase by 2.9 percent, contributing 0.4 percentage points to the 6.81 percent GDP growth level
The country’s GDP grew quarterly, with 5.15 percent in Q1, 6.28 percent in Q2, 7.46 percent in Q3, and 7.65 percent in Q4.
The agro-forestry-fishery sector is expected to increase by 2.9 percent, contributing 0.4 percentage points to the 6.81 percent GDP growth level. The industrial and construction sector posted an 8 percent growth rate, contributing 2.77 percentage points whilst the service industry climbed by 7.44 percent, contributing 2.87 percentage points.
Lam said Vietnam’s socio-economic affairs 2017 took place in the context of steady recovery and growth of major economies such as China, the US, Japan, the Republic of Korea (RoK) and the European Union (EU).
The World Bank has forecast the global GDP would stand at 3 percent, while the International Monetary Fund (IMF) anticipated a growth of 3.6 percent this year, he noted.
Global trade activities also witnessed improvements. In September 2017, the World Trade Organisation (WTO) increased its forecast for global trade in 2017 to 3.6 percent, higher than the previous level of 2.4 percent and much higher than the growth of 1.3 percent in 2016.
They are active factors for domestic production since Vietnam has been integrating more extensively and intensively into the world’s economy, Lam explained.
He noted that inflation was curbed below the set target of the National Assembly. The country recorded high credit growth, abundant remittances and foreign direct investment (FDI), stable exchange rate, and increasing foreign exchange reserves.
Vietnam continued focusing on economic restructuring to increase competitiveness, improve the business environment, and promote start-up movements.
However, the country faced certain difficulties such as a strong reduction in farm produce and food prices, which had…
Vietnam Loship secures investment from Skype co-founder
This capital injection marks Loship as the first portfolio company of MetaPlanet in Vietnam and Southeast Asia.
US pledges to enhance cooperation with Mekong subregion’s countries
The US will bolster support for countries in the Mekong subregion through the Mekong-US partnership, US Principal Deputy Assistant Secretary of State for the Bureau of East Asian and Pacific Affairs Atul Keshap said at a recent online seminar to reveal results of a report on transboundary rivers and addressing challenges in Mekong River.(more…)
Vietnam Import-export value surpasses 74 billion USD since 2021’s beginning
Vietnam’s import-export turnover posted a year-on-year rise of 31 percent to reach 74.51 billion USD from the beginning of 2021 to February 16.
In the reviewed period, Vietnam enjoyed a trade surplus of 2.63 billion USD, according to the Vietnam Customs.
During the Tet (Lunar New Year) holiday 2021 from February 10-16, a total of 960 firms conducted import-export activities, up 363 against the Tet holiday 2020.
A total of 10,300 customs declaration forms were filled out, up 59 percent against the previous holiday.
Meanwhile, the import-export value hit 1.67 percent, a year-on-year increase of 53 percent.
Main exports included mobile phones and spare parts, computers, electronics and components./.
Rapid growth in China post-COVID makes it ripe for investment
Being “first in and first out” of COVID-19, China is the only country among the G20 that is thought by...
Is remote leadership part of the new normal?
With 77% of adults reporting that they would be willing to learn new skills now, or completely retrain, to improve...
Supporting disadvantaged women key to achieving SDGs in ASEAN
The study, which holds a gender lens up to each of the SDGs of the 2030 Agenda, confirms that when...
EEC Expects 300-billion-baht Investment This Year
BANGKOK (NNT) – The Eastern Economic Corridor (EEC) has expected investment to triple to 300 billion baht this year as...
Commerce Ministry sets Thailand’s export growth target at 4% for 2021
BANGKOK (NNT) – Thailand has seen export growth of 0.35 percent in the first month of the year. The Commerce...
Has Covid-19 prompted the Belt and Road Initiative to go green?
– Covid-19 led to a slowdown in BRI projects– Chinese overseas investment dropped off in 2020– Government remains committed to the wide-ranging infrastructure...
Subscribe via Email
National6 days ago
Thailand to further ease COVID-19 restrictions
Business6 days ago
THAI airways to sell training center building to raise more funding
Economics3 days ago
1.7 million Thais without smartphones register for "Rao Chana" benefits
Health1 week ago
200,000 doses of COVID-19 vaccine Distributed to 13 Thai provinces