Vietnam's GDP in the third quarter increased by 8.23%

At the press conference on the morning of October 6, the General Statistics Office ( Ministry of Finance ) said that GDP in the third quarter is estimated to increase by 8.23% over the same period last year. Thus, in the first three quarters of the year, GDP increased by 7.85% over the previous year. These levels are the highest in the past 11 years, except for 2022, when it increased sharply after the Covid-19 pandemic.

The industrial and construction - service sector still accounts for the highest proportion, supporting the economy . In which, the service sector increased by 8.49% in 9 months compared to the same period. This is the group that contributes the most to the added value of the economy, nearly 51.6%. According to the General Statistics Office, the demand for consumption of goods, services, and tourism has increased sharply in the past period, especially during the time of activities celebrating major holidays, contributing positively to this sector.

Industry and construction also increased compared to the same period last year. The total added value of the entire industrial sector in the first 9 months was about 8.55%, of which the processing and manufacturing industry - which is the driving force of growth - increased by 9.92%.

Meanwhile, the agriculture, forestry and fishery sector increased by 3.83%. This level is only lower than the growth rate in the same period in 2011, 2018 and 2021 over the past decade.

The operator continues to control supply and prices well in areas affected by natural disasters. CPI in 9 months increased by 3.38% over the same period, and 2.61% compared to December 2024.

Other macro indicators were also positive. Specifically, the total import-export turnover of goods in the first 9 months reached 680.66 billion USD, up 17.3% over the same period. Of which, exports increased by 16%, imports by 18.8%. The trade balance of goods had a surplus of 16.82 billion USD.

In total, in the first 9 months, the country had more than 231,300 newly registered and re-operated enterprises, an increase of 26.4%. On average, more than 25,700 new enterprises were established and re-operated each month. Meanwhile, the number of withdrawals from the market averaged 19,400 units, lower than the number of new entrants.

The survey results on business trends of the processing and manufacturing industry in the third quarter also showed that 40.8% of enterprises assessed that the trend would improve in the last quarter of the year. The remaining 41.7% said that production and business would be stable and 17.5% predicted difficulties.

"The socio-economic situation in the third quarter and the first nine months of the year is very positive, with each month being better than the previous month and each quarter being better than the previous quarter in the context of the world and regional economies still having many uncertainties," said Ms. Nguyen Thi Huong, Director of the General Statistics Office, at a press conference.

Vietnam has set a GDP growth target of 8.3-8.5% this year to create momentum for double-digit growth in the coming years. According to Director of the General Statistics Office Nguyen Thi Huong, the economy is expected to continue to face many challenges in the last three months of the year to achieve this target. Ms. Huong believes that managers need to have solutions to increase productivity, product quality, promote exports and the domestic market, along with speeding up public investment disbursement and removing key projects.

This year, the public investment plan was assigned more than 1.11 million billion VND (including the portion transferred from the previous year, additional allocation from increased central budget revenue and local budget balance). Updated to September 30, the disbursement rate reached over 51% of the plan. The Government aims to disburse all of this capital, because this is one of the important factors, the pillar to promote high growth and ensure macroeconomic balances. According to calculations, in the period 2021-2025, if disbursed public investment capital increases by 1%, GDP can add 0.058 percentage points.

according to VnE

Source: https://baohaiphong.vn/gdp-quy-iii-cua-viet-nam-tang-8-23-522734.html