At a press conference in Hanoi on October 6, Director of the National Statistics Office of Vietnam Nguyen Thi Huong reported that the nine-month GDP expansion ranks as the second-strongest performance in the 2011-2025 period, only trailing behind the 9.44% growth achieved during the same timeframe in 2022.
    |
 |
|
The agro-forestry-fishery sector accounts for 11.3% of GDP. |
Amidst complicated developments across the globe and fierce strategic competition among major powers, the country has achieved robust economic performance, Huong said, stressing the agro-forestry-fishery sector remained stable despite storms and floods, thanks to timely disaster response measures. Within the sector, crop production rose 3.46%, forestry 6.46%, and fisheries 4.48%.
Industry and construction were major growth engines. Industrial output expanded 8.55% overall, driven by a 9.92% increase in manufacturing and processing, and a 9.33% rise in construction.
Services flourished on the back of surging domestic consumption, tourism, and retail demand, particularly during the country's national holidays. The sector’s 8.49% growth was second only to its 11.37% pace in 2022. Wholesale and retail climbed 8.28%, transport and warehouse jumped 10.68%, banking and insurance rose 7.06%, and accommodation and catering services increased 10.15%.
Regarding economic structure in the nine-month span, the agro-forestry-fishery accounted for 11.3% of GDP, industry and construction 37.58%, and service 42.92%.
On the demand side, final consumption expenditure grew 8.07%, capital formation 8.52%, export 15.51%, and import 16.75%.
Huong stressed that the results were achieved due to sweeping reforms in government organization and legal frameworks, as well as major resolutions on science - technology, innovation and digital transformation, international integration, and development of the private economic sector in Quarter 3.
Source: VNA