Nine-month GDP up 6.52%

Garments manufactured for export.

Vietnam’s economy grew 6.52% in the past nine months, the Ministry of Planning and Investment (MPI) reported on September 27.

The growth was hugely supported by industrial production value, which hit VND 574 trillion or a rise of 13.8% compared with the same period last year and exports, which rose 20% to US$51.5 billion.

According to the MPI, the export figure was mainly contributed by the foreign direct investment sector and the rising prices of rubber, pepper, cassava, cashew nut, tea, rice and seafood in the world market.

The ministry reported that the State had collected VND 360 trillion for its budget, which represented 78.2% of the yearly estimate.

Despite gains, the national economy still faced a high trade deficit, the MPI said, citing an import value of US$60.08 billion, a year-on-year rise of 22.7%.

The MPI predicted that prices of consumer goods will go up in the remaining three months because of the rising prices of input materials and commodities in the world market.

It asked relevant ministries and sectors to introduce detailed plans to retain the prices. (VNA)

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