Vietnam's economic situation in the first 9 months of 2019

01 Oct 2019

By: B&Company Vietnam

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At a press conference on 28/9/2019, Director General of the General Statistics Office stated that despite the declining trend of global economic growth, Vietnam’s GDP climbed 6.98% in the first nine months of 2019 compared to the previous year’s same period. This is the highest growth rate of 9 months in the last 9 years.

Among 3 main economic sectors, the “industry & construction” sector ranked first in growth rate (9.36%), the “commerce & service” sector came second with 6.85%, and “agriculture, forestry and fishing” had the lowest growth rate (2.02%).

The processing industry increased by 11.37%, playing a key role in leading the overall growth of the “industry & construction” sector. Moreover, the mining industry increased slightly at 2.68% after a constant decrease for years.

The total export value reached USD 194.3 billion (~VND 4,509.411 trillion), increased 8.2% compared with the same period of the previous year while the total import value was USD 188.42 billion (~VND 4,372.945 trillion), up 8.9%.

Source: General Statistic Office