Vietnam’s economy is estimated to have expand 5.2% to VND1,645.481 trillion (US$89.046 billion) this year, driven by construction and industrial production, retail sales and service, the government’s General Statistics Office said.
Industrial production and construction industries which account for 40.24% of Vietnam’s GDP hit VND662.119 trillion this year, compared to VND587.157 trillion last year, the GSO said.
Retail sales and services revenue rose 18.6% from a year earlier to VND1,197.48 trillion in 2009 while agro-forestry and fisheries value reached VND339.99 trillion, compared to VND326.505 trillion last year, the GSO noted.
The country’s trade gap narrowed to US$12.246 billion this year, compared to US$17.516 billion last year as the domestic economy was cooling down at a 5.2% pace, down from 6.23% in 2008.
Inflation is curbed at 6.88% this year, compared to the target of 7%, the GSO added.
The country invested VND153.82 trillion of state budget this year, up 6.8% from a year earlier. Though weather conditions are unfavorable with the worst typhoons of Ketsana and Mirinae, the country shipped roughly 6 million tons of rice valued at US$2.662 billion, a record over the past two decades.
Despite bad effects from the global economic downturn, this year the Southeast Asian country attracted US$21.48 billion in foreign direct investments, down 70% from a year earlier while it received 3.772 million international tourists, down 10.9% on year.
The government of Vietnam launched stimulus packages worth up to VND147 trillion or US$8.6 billion early this year, which have helped to ward off the domestic economy from the economic slowdown, Ayumi Konishi, the Asian Development Bank’s Country in Vietnam said.
The International Monetary Fund forecast Vietnam GDP to grow 4.6% this year and 5.3% in 2010, and the Asian Development Bank forecast a growth of 5% this year and 6.5% in 2010. (GSO)
Vietnamese
