Vietnam’s economy expands 2.12 percent in nine months
The gross domestic product (GDP) of Vietnam grew 2.12 percent year-on-year in the first nine months of 2020, according to the General Statistics Office (GSO).
A smartphone factory of the Samsung Electronics Vietnam Co. Ltd (Photo: VNA)
Hanoi (VNA) – The gross domestic product (GDP)of Vietnam grew 2.12 percent year-on-year in the first nine months of 2020,according to the General Statistics Office (GSO).
This is the lowest nine-month growth rate since2011, GSO General Director Nguyen Thi Huong said at a press conference in Hanoion September 29.
However, she noted, amid the COVID-19 pandemic’sserious impact on every socio-economic aspect of countries around the world, itis still a big success of Vietnam in the pandemic fight and economic recoveryand development.
Between January and September, theagro-forestry-fishery sector increased 1.84 percent, industry-construction 3.08percent, and services 1.37 percent. They respectively contributed 13.62percent, 58.35 percent, and 28.03 percent to the overall growth.
The official said in the third quarter alone,GDP rose 2.62 percent compared to the same period last year, also the slowestQ3 growth pace since 2011.
Thanks to COVID-19 brought under control, economicactivities have gradually been resumed in the new normal status, helping the Q3GDP expand at a faster pace than in Q2 (0.39 percent).
Huong said the complex and unpredictabledevelopments of COVID-19 led to growth slowdown in almost all sectors.Disruptions to international trade affected Vietnam’s production, export andimport activities while resulting in high unemployment and job shortage.
Besides, drought and saltwater intrusion thatoccurred early have affected plant productivity and output.
Facing that fact, the Government and the PrimeMinister have issued timely directions for ministries, sectors and localitiesto carry out concerted and effective solutions so as to concurrently fight againstthe pandemic, protect people’s health, prevent an economic recession, andmaintain social stability, thereby helping to achieve as high as possibleresults in socio-economic development this year, according to the GSO GeneralDirector./.
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A smartphone factory of the Samsung Electronics Vietnam Co. Ltd (Photo: VNA) 
