HCMC – Vietnam’s economy expanded by 6.82% in the first nine months of this year, according to the General Statistics Office of Vietnam.
In the third quarter alone, GDP growth reached 7.4%, driven by the industrial and construction sectors, which grew by 9.11%. The services sector increased by 7.51%, while agriculture recorded a 2.58% rise.
Final consumption expenditure rose by 7.02% in the quarter, contributing nearly 60% to GDP growth. Asset accumulation increased by 7.08%, accounting for 39% of the growth. Exports and imports jumped 15.68% and 15.84%, respectively.
For the nine-month period, the industry and construction sectors posted an 8.19% growth rate, while services rose by 6.95%. Typhoon Yagi impacted agricultural output, leading the sector’s growth to slow to 2.92%, contributing 0.25 percentage point to GDP growth.
Forestry picked up by 4.96% but its smaller scale limited its overall impact, while the fisheries sector expanded by 3.73%, contributing 0.1 percentage point to GDP growth.
The report highlighted that industrial production, particularly in manufacturing, shot up by 9.76% in the first nine months, fueling overall growth. The construction sector also expanded by 7.48%.
The services sector, including retail, transport, and tourism, edged up by 6.95% against the same period last year, making up 42.8% of the economic structure in the first nine months, the largest share.
In September, the number of new market entrants fell by 16.3% from the previous month and 5% year-on-year. However, businesses returning to the market increased by 11.6% versus the same period last year, despite a 23.7% monthly drop.
A total of 183,000 newly established firms and those resuming operations were recorded in the first nine months, up by 9.7% year-on-year, while 163,800 businesses exited the market, a year-on-year increase of 21.5%.
