The Hanoitimes – This is the second consecutive year that Vietnam's economy expands over 7%, following a 10-year high GDP growth of 7.08% in 2018. Vietnam's GDP growth in 2019 achieved an impressive pace of 7.02%, far exceeding the target set by the National Assembly at 6.6 – 6.8%, the General Statistics Office (GSO) has announced. Data: GSO. Chart: Nguyen Tung. This is the second consecutive year that Vietnam's economy expands over 7%, following a 10-year high GDP growth of 7.08% in 2018. Specifically, GDP of the fourth quarter increased by 6.97% year-on-year, only lower than the growth rate in the third quarter of 7.48%, but higher than that the first two quarters at 6.82% and 6.73%, respectively. In a context of global slowdown, not to mention the ongoing US – China trade war, a 7.02% expansion of the local economy indicated efficient state management and strong efforts of the government, stated the GSO. The driving force of the economy in 2019 continues to be the manufacturing and processing with an increase of 11.29%; followed by transportation with 9.12%; wholesale and retail with 8.82%, financial, banking and insurance services with 8.62%. About the structure of the economy in 2019, the… Read full this story
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