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Vietnam’s GDP grows 2.12% in Jan-Sept, slowest in decade: General Statistics Office

Tuesday, September 29, 2020, 15:35 GMT+7
Vietnam’s GDP grows 2.12% in Jan-Sept, slowest in decade: General Statistics Office
Officials from the General Statistics Office of Vietnam chair a press meeting in Hanoi on September 29, 2020. Photo: Bao Ngoc / Tuoi Tre

Vietnam’s GDP expanded 2.12 percent in January-September, with almost 99,000 new companies established and a trade surplus of nearly US$17 billion recorded in the period, according to the General Statistics Office.

The figures were announced at a press conference in Hanoi on Tuesday.

The GDP expansion is the slowest in the 2011-20 period, said Nguyen Thi Huong, director general of the General Statistics Office.

But it is still Vietnam’s great success given the impacts of the COVID-19 pandemic on the global economy, Huong noted.

Agriculture, forestry, and aquatic products contributed 13.62 percent to the national GDP growth, industry and construction 53.35 percent, and service 28.03 percent, the office elaborated.

The number of newly-established companies decreased 23.1 percent year on year to 10,300 in September, registering a combined capital of VND203,300 billion ($8.8 billion), down 29.6 percent compared to the same period last year, Huong said.

The new firms registered 83,000 employees, a drop of 13.8 percent year on year, she added.

Almost 99,000 companies were set up in January-September, down 3.2 percent year on year, with a total registered capital of VND1,428,500 billion ($61.7 billion), an annual rise of 10.7 percent,  and 777,900 employees, a 16.3 percent fall year on year.

Vietnam’s exports reached $202.86 billion in the same period, up 4.2 percent compared to the same period last year, with shipments earning the country $80.07 billion in third quarter alone.

The Southeast Asian country has recorded a trade surplus of $16.99 billion in the year to date.

It reported a CPI increase of 3.85 percent year on year, September seeing a 0.12 percent climb.

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