Latest News about GSO
Under the impact of the 2019 novel coronavirus (2019-nCoV) outbreak, foreign tourist arrivals in Vietnam may fall by 50 – 60 percent during the epidemic period, according to the General Statistics Office (GSO).
The country’s trade surplus reached a record high of US$9.9 billion in 2019, the General Statistics Office’s monthly report has revealed.
After revision, Vietnam’s GDP grew an average of 25.4% annually in the 2010 – 2017 period, in which 2011 recorded the highest growth rate of 27.3%.
More than 126,700 new enterprises were formed in the first 11 months of this year with total capital of VND1.574 quadrillion (US$65.6 billion), reported the General Statistics Office (GSO).
This years inflation is controllable at 3.3-3.9 per cent, Deputy Prime Minister Vuong Dinh Hue said while chairing a meeting early this week regarding the recent surge in pork prices, an essential foodstuff.
The Ministry of Finance (MOF) says that personal income tax (PIT) rates have become out of date after six years of application and need amendment.
Vietnamese income has improved significantly, but it has not reached the $3,000per capita threshold as calculated by General Statistics Office, economists say.
The state-owned economic sector ranks first in terms of productivity, followed by foreign invested companies. The productivity of the private sector is the lowest.
Labor productivity is a decisive factor for competitiveness of every economy and enterprise especially a developing country like Viet Nam.
Domestic businesses should stay alert and be proactive in finding new advantages while improving their competitiveness in order to seize opportunities to boost exports in the remaining months of the year amid the escalating US-China trade tensions.
Fitch Solutions maintains its forecast that Vietnam’s real GDP growth will come in at 6.5% in 2019, a fall from 7.1% in 2018, partly due to unfavourable base effects potentially occurring in the remainder of 2019 and slowing global demand.
Close to 8.5 million foreigners visited Vietnam in the first half of this year, a rise of 7.5 percent year on year, reported the General Statistics Office (GSO) on June 28.
The price hike of many essential goods recently has put pressure on inflation, but economists believe the inflation rate will be at below 4 percent as targeted.
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GSO (General Statistics Office) has released a report showing that labor productivity is VND93.2 million per worker, or $4,159, in accordance with 2017 prices.