Vietnam’s economy expanded 9.95% from a year earlier in the third quarter, lifting nine-month growth to 9.01%. Industry and construction accounted for nearly half of the increase in value added over January–September. The statistics also distinguish a sharp rise in registered foreign investment from the smaller amount of investment actually realized.
Economics & Markets··Evening
Growth accelerates through the year
Vietnam’s National Statistics Office announced on October 3 that gross domestic product (GDP) rose 9.95% from a year earlier in the third quarter. The increase followed growth of 8.15% in the first quarter and 8.81% in the second. GDP over January–September was 9.01% above the same period last year.[1], [2]
Industry and construction expanded 11.21% over the first nine months and supplied 49.62% of the increase in value added. Services grew 8.96% and supplied 45.03%, while agriculture, forestry and fisheries grew 4.02% and supplied 5.35%.[1]
Industrial output rises 14.8% in the quarter
Industrial production increased an estimated 14.8% year on year in the third quarter and 12.3% over January–September. More than 223,900 businesses were newly established or resumed operations during the nine-month period, 3.2% fewer than a year earlier. Another 172,000 businesses left the market, down 1.7%.[1]
Registered foreign investment reached $50.36 billion through the end of September, a 76.4% annual increase. That total includes new registrations, additional capital and share purchases. Foreign direct investment actually realized was estimated at $21.07 billion, up 12.1%. Retail goods sales and consumer-service revenue at current prices rose 13.4% to 5,925.7 trillion dong, approximately $228 billion.[1]
