According to the General Statistics Office's report released on the morning of September 29, the gross domestic product (GDP) in the third quarter of 2023 is estimated to increase by 5.33% over the same period in 2022. In general, GDP in the first 9 months of 2023 increased by 4.24% over the same period in 2022, although only higher than the growth rate of the same period in 2020 and 2021 in the period 2011 - 2023, but with a positive trend.
According to the General Statistics Office, the agriculture, forestry and fishery sector increased by 3.72%, contributing 8.03% to the total added value of the entire economy ; the industry and construction sector increased by 5.19%, contributing 38.63%; the service sector increased by 6.24%, contributing the majority to the total added value of the entire economy (53.34%).
Notably, in the first 9 months, the added value of the agricultural sector increased positively compared to the same period last year. As for the industrial and construction sector, the industry faced many difficulties and challenges in the context of declining global demand. Therefore, the added value of the entire industrial sector in the first 9 months of 2023 increased by only 1.65% compared to the same period last year, the lowest increase in the same period in the period 2011 - 2023. Of which, the processing and manufacturing industry increased by 1.98%, the lowest increase in the same period in the period 2011 - 2023.
Notably, the trade and tourism sectors maintained high growth momentum, contributing positively to the growth of the service sector. The added value of the service sector in the first 9 months of 2023 increased by 6.32% over the same period in 2022.
Regarding the economic structure in the first 9 months of 2023, the agriculture, forestry and fishery sector accounted for 11.51%; the industry and construction sector accounted for 37.16%; the service sector accounted for 42.72%; product taxes minus product subsidies accounted for 8.61%.
Regarding GDP use in the first 9 months of 2023, final consumption increased by 3.03% over the same period in 2022, contributing 34.30% to the overall growth rate of the economy; asset accumulation increased by 3.22%, contributing 19.35%; exports of goods and services decreased by 5.79%; imports of goods and services decreased by 8.19%; the difference between exports and imports of goods and services contributed 46.35%.
According to the General Statistics Office, the world economy in the first 9 months of 2023 faced many difficulties and challenges, most economies in the world had lower growth than expected due to declining aggregate demand; inflation has cooled down but remains high; monetary policy is tight, world public debt has increased to a record level, the military conflict between Russia and Ukraine is more complicated, geopolitical instability, food security, natural disasters, climate change... are increasing.
For Vietnam, most international organizations have adjusted their growth forecasts for 2023 down compared to before based on the results and forecasts of domestic production and business activities and the impact of the world economy.
Reporting at the press conference announcing the periodic report on September 29, General Director Nguyen Thi Huong emphasized that, in the face of the above difficulties and challenges, with the participation of the entire political system, the Government and the Prime Minister have proactively, resolutely, and closely directed ministries, branches, and localities to implement many solutions to remove difficulties, promote growth, maintain macroeconomic stability and major balances of the economy.
Solutions have been actively implemented such as: Reducing lending interest rates, stabilizing the foreign exchange market; promoting disbursement of public investment capital; implementing credit packages to support industries and sectors; exempting, reducing, and extending taxes, fees, land use fees, supporting businesses; extending the duration of electronic visas for tourists; removing difficulties and obstacles in the corporate bond and real estate markets; social security work has been given timely and practical attention... Therefore, the more positive trend continues to be maintained and is increasingly evident in many industries and sectors./.
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