Vietnam secures 2.58% GDP despite COVID-19 impact
VOV.VN - The Vietnamese economy has secured a gross domestic product (GDP) rate of 2.58% this year despite facing an adverse impact caused by the COVID-19 pandemic, according to the latest socio-economic data released by the General Statistics Office (GSO) on December 29.
Following pandemic prevention measures eased, the country’s GDP rate in the fourth quarter rose by 5.22% year on year, higher than last year’s growth rate of 4.61%, but lower than the figure recorded during the same period between 2011 and 2019.
The agro-forestry-fishery and industry and construction sectors expanded by 2.9% and 4.05%, respectively, while the overall service sector also experienced an upward trajectory of 1.22% throughout the reviewed period.
Most notably, the complicated nature of the COVID-19 pandemic across the country since late April has significantly impacted trade activities, with several service industries enduring negative growth, that prompted the growth rate of the entire economy to tumble.
Meanwhile, industrial production for the fourth quarter witnessed a rapid rebound, with the added-value growth rate reaching 6.52% after localities implemented the Government's resolution No 128 on safely and flexibly adapting and effectively containing the pandemic.
Moreover, the added value of the industrial sector for the entire year edged up 4.82% compared to last year, of which processing and manufacturing inched up 6.37%.
A recent survey conducted on business trends in the processing and manufacturing industry shows enterprises remain optimistic about production and business activities ahead in the first quarter of next year, with 81.7% of respondents considering it more stable than that of the fourth quarter of this year.
December has seen import and export activities continue to become a bright spot in the national economic picture. Indeed, the trade turnover of goods reached US$66.5 billion, a rise of 6.4% over the previous month and up 19.7% against the same period from last year.
The fourth-quarter trade figure raised the country’s yearly trade value to US$668.5 billion, a year on year rise of 22.6%, of which exports and imports increased by 19% and 26.5%, respectively.
After running up a trade deficit for several months, the country enjoyed a trade surplus of US$4 billion this year.
