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01 Oct 2019, Petia Krasteva, EMIS Editor

Vietnam’s economy expands by 7% y/y in Jan-Sep

Vietnam’s economy has expanded by 7% y/y in Jan-Sep, dpa ANN Service reported citing Director General of the General Statistics Office (GSO) Nguyn Bich Lam. The growth rate was the fastest in nine years. Details showed industry and construction sectors accounted for 52.6% of the economic output in the period and posted 9.4% growth. GDP growth in services sector reached 6.96% and services had 42.6% share in the total output. 

Other statistical indicators also confirmed economy is booming. The number of newly-registered firms reached a record high of 102,300 in Jan-Sep. Fixed investment showed strong 10.3% growth rate to USD 26.9bn, while FDI alone accounted for USD 14.1bn.  Exports growth reached 8.2% y/y and trade balance posted USD 5.9bn surplus. The CPI inflation growth slowed to 2.5% y/y. 

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Original source: dpa ANN Service