GDP increased with the highest amount in 9 years

According to the report on the 3rd quarter socio-economic situation of the General Statistics Office, the gross domestic product (GDP) in 9 months of 2019 was estimated to increase by 6.98% over the same period last year. This is the highest increase in the past 9 years.


Specifically, according to the General Statistics Office, the GDP of the first quarter of 2019 increased by 6.82% over the same period last year; GDP in the second quarter of 2019 increased by 6.73%; GDP of the third quarter of 2019 increased by 7.31%. 9 months' GDP increased by 6.98%.


The main drivers of economic growth in the first nine months of this year were processing and manufacturing industries (up 11.37%) and market services (wholesale and retail increased by 8.31%; financial activities). major, banking and insurance increased by 8.19%; transportation, warehousing increased by 7.82%; information and communication increased by 7.65%).


Regarding economic structure in the first 9 months of 2019: Agriculture, forestry and fishery accounted for 13.20% of GDP; industry and construction sector accounts for 33.98%; service sector accounts for 42.74%; Product tax minus product subsidies accounted for 10.08% (the corresponding structure of the same period in 2018 were: 13.94%; 33.50%; 42.51%; 10.05%).


GDP increased but inflation was tightly controlled. According to the General Department of Statistics, the average consumer price index (CPI) in 9 months increased by 2.52% over the same period last year. This is the lowest increase in the same period of the past 3 years (2017 was 3.79%, 2018 was 3.57%).


According to Dinh Vu