Vietnam’s GDP up 1.42 percent in nine months

Vietnam’s gross domestic product (GDP) expanded by 1.42 percent in the first nine months of 2021 from the same period last year, marking a great success of the country in the fight against the COVID-19 pandemic and maintaining production and business amid the prolonged period of social distancing in many provinces and cities.

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Data from the General Statistics Office showed that the nation’s GDP declined by 6.17 percent annually in the third quarter, the sharpest drop since Vietnam began announcing its quarterly GDP figures in 2000. Of which, industry and construction contracted by 5.02 percent, services down 9.28 percent, and agro-forestry-fishery down 1.04 percent.

About the use of GDP in the third quarter, consumption was down 2.83 percent year-on-year, asset accumulation up 1.61 percent, exports of goods and services up 2.51 percent, and imports of goods and services moved up 10.75 percent.

The nine-month GDP growth was thanks to the agro-forestry-fishery sector with an expansion rate of 2.74 percent, contributing 23.52 percent to the overall growth; industry and construction with a growth rate of 3.57 percent, contributing 98.53 percent.

Meanwhile, services were down 0.69 percent, pulling national growth down by 22.05 percent./.

VNA