GDP in Vietnam
Vietnam - GDP (billions of U.S. Dollars)
Economy continues to expand at a stellar pace in the third quarter
The economy continued to power ahead at full steam, growing 6.9% in the third quarter in annual terms, up from 6.7% in the second quarter. An acceleration in export growth in Q3, which reflected an upturn in the FDI sector, was a key factor behind Q3’s faster pace of expansion.
Looking at a breakdown by production, the headline figure was underpinned by a pick-up in the industry and construction sector, which grew 8.6% year-on-year in Q3, up from 8.4% in Q2—the swiftest pace of expansion of all the sub-sectors. The upturn in the construction sector exceeded that of the industrial sector, which was weighed down by contraction in mining and quarrying output. A double-digit expansion in the manufacturing sector, supported by strong external demand, led the accelerated pace of expansion.
Meanwhile, growth of agricultural, forestry and fishing output came in at 3.5% in Q3, mirroring Q2’s print, thanks to sustained favorable weather conditions and the export-oriented fishery sub-sector. Conversely, the services sector lost some ground compared to the previous quarter, expanding at a slightly weaker pace of 6.9% in Q3, down from 7.1% in Q2. The strong growth of the sector was underpinned by robust expansion in the retail sector buoyed by upbeat private consumption and record tourist arrivals. The deceleration, however, was the result of slower growth in accommodation and catering services, along with the real estate sector.
While the economy continued to lure a high level of FDI in the first nine months of the year, the rise from the same period of the previous year was marginal. Newly registered capital and additional capital in the January–September period was up just 6.0% from the same period in 2017, reaching an estimated USD 13.25 billion. The economy’s strong performance is expected to spill over into the next, thanks to sustained healthy private consumption growth and solid inflows of FDI. The impact of rising U.S.–China trade tensions on the Vietnamese economy remains uncertain. While there are downside risks stemming from the trade war, the effects could be partially offset by production relocation away from China into Vietnam to avert U.S. tariffs.
Panelists participating in the Met the why particular Consensus Forecast expect GDP to expand 6.6% in 2019, which is unchanged from last month’s forecast. The panel also foresees GDP growing 6.4% in 2020.
Vietnam - GDP (USD bn) Data
|GDP (USD bn)||170||184||186||196||221|
5 years of economic forecasts for more than 30 economic indicators.
|Bond Yield||5.19||-0.13 %||Dec 11|
|Exchange Rate||23,302||0.01 %||Dec 11|
|Stock Market||955||0.15 %||Dec 11|
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December 3, 2018
According to data released by Nikkei and IHS Markit, the manufacturing Purchasing Managers’ Index (PMI) rose to 56.5 points in November, up notably from the 53.9 points logged in October and marking the best result since January 2000.
November 30, 2018
According to the General Statistics Office of Vietnam, consumer prices fell 0.29% over the previous month in November, following the 0.33% increase in October.
November 30, 2018
Industrial production expanded 9.6% over the same month a year ago in November, a solid pick-up from the 7.7% expansion recorded in October. The acceleration came on the back of stronger output in the manufacturing sector and faster growth in the electricity and gas supply sector, while a slight rebound in the mining and quarry sector also supported the headline print.
November 1, 2018
Vietnam’s manufacturing sector improved in October following a notable slowdown in September.
October 30, 2018
According to the General Statistics Office of Vietnam, consumer prices rose 0.33% over the prior month in October, down from the 0.59% increase in September.