Business

GDP grows 2.91 percent this year

SGGP
The General Statistics Office of Vietnam said that gross domestic product (GDP) was estimated to increase 2.91 percent compared to the previous year in a regular press conference held on December 27 in Hanoi.
In the general economic growth, the agriculture, forestry, and fisheries sector rose 2.68 percent, contributing 13.5 percent to the growth rate of the total added-value of the economy; the industry and construction sector gained 3.98 percent, contributing 53 percent; the service sector surged 2.34 percent, contributing 33.5 percent.

Especially, the EU-Vietnam Free Trade Agreement (EVFTA) that took effect from August 1 this year has created motivation for the economy, so GDP in the fourth quarter (Q4) of this year posts better growth than the third quarter.

The consumer price index (CPI) in December edged up 0.1 percent compared to the previous month and 0.19 percent year-on-year. On average, this year, CPI increased 3.23 percent compared to last year.

In 2020, there were 134,900 newly-registered enterprises nationwide, down 2.3 percent compared to last year. However, the average registered capital of an enterprise reached VND16.6 billion, an increase of 32.3 percent.

The survey results on the business tendency of enterprises in the processing and manufacturing industry show optimism for the business situation in the first quarter of next year, with 81 percent of enterprises saying that the situation will be stable and better compared to Q4 of this year.

The employment situation in Q4 also shows signs of improvement in comparison with the previous quarter. However, because of the Covid-19 pandemic, the unemployment rate this year is 2.26 percent higher than last year.

By Anh Thu – Translated by Bao Nghi

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