All macro indicators picking up in 2013: GSO
All macro indicators picking up in 2013: GSO
Vietnam’s gross domestic product (GDP) is estimated to rise 5.42% year on year, according to the General Statistic Office (GSO).
The country’s inflation indicator, the consumer price index (CPI), is expected to reach 6.04% by the end of this year, slightly down from the 6.81% rate recorded in 2012.
The service sector continued to be the leader in promoting Vietnam’s GDP growth with a 6.56% increase over the same period last year. Meanwhile, agriculture and industry - construction recorded a 2.67% and 5.43% increase, respectively.
They accounted for 2.85%, 0.48% and 2.09% of the country's GDP in 2013, respectively.
Compared with an increase of 5.03% in 2012, GDP growth this year marked an improvement which can also be seen through positive changes every quarter.
Specifically, the GDP in the first, second, third, and fourth quarter increased by 4.76%, 5% , 5.54% and 6.04% respectively.
However, the 2013 figure is still lower than the 5.5% growth target set early this year.
“Although this increase does not reach the target of 5.5 %, it is higher than the rate of 5.25 % in 2012 and has shown signs of recovery," said Nguyen Thi Ngoc Van, head of General Statistics Department under GSO.
Industrial production in 2013 showed more signs of recovery with the Index of Industrial Production (IIP) in 2013 estimated to increase by 5.9%, up 1.1 % year on year. As of December 1, the inventory of the local processing industry rose 10.2% year on year, compared to 20.1% in 2012 and 23% in 2011.
2013 was also a successful year for Vietnam in attracting foreign direct investment (FDI) with the highest rate of pledged capitals in recent years.
As of December 15, total committed FDI rose by 54% year on year to $21.6 billion. FDI disbursement was estimated at approximately $11.5 billion in the year, an increase of 10% over the previous year.
Also according to GSO, the country’s export and import turnovers were estimated to reach nearly $132.2 billion and $131.3 billion. Thus, in 2013, Vietnam had a trade surplus of about $ 900 million. Earlier, the Ministry of Industry and Trade forecast that the country may run a trade deficit of $500 million.
Although all macroeconomic indicators seem to be picking up, the number of businesses that dissolved or ceased operations due to difficulties this year was estimated to reach 60,737, an 11.9 % increase over the previous year, GSO reported.
In particular, the number of businesses that dissolved was at 9,818, up 4.9% year on year. Meanwhile, the number of registered enterprises that suspended business operations was 10,803, an increase of 35.7%. Those that went bankrupt but have yet to register for bankruptcy was at 40,116, an increase of 8.6%.
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