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Vietnam’s GDP grows by 2.58 percent in 2021: GSO

Vietnam’s gross domestic product (GDP) in 2021 is estimated to expand by 2.58 percent from the previous year as the COVID-19 pandemic has imposed adverse impacts on all fields of the national economy.


Illustrative image (Photo: VNA)

Speaking at a press conference announcing socio-economic figures in the fourth quarter and the whole year on December 29, General Director of the General Statistics Office (GSO) Nguyen Thi Huong said that GDP in the fourth quarter is estimated to increase by 5.22 percent over the same period last year, adding that the figure was higher than the growth rate of 4.61 percent of the fourth quarter of 2020 but lower than the average growth rates of the fourth quarters in the 2011-2019 period.

The agro-forestry-fishery sector grew by 3.16 percent; the industry and construction rose by 5.61 percent; and the service sector expanded by 5.42 percent in the fourth quarter.

In the whole year, the agro-forestry-fishery sector increased by 2.9 percent, contributing 13.97 percent to the growth rate of the total added value of the whole economy; the industry and construction sector up by 4.05 percent, contributing 63.80 percent; and the service sector rose by 1.22 percent, contributing 22.23 percent.

In the year, final consumption rose by 2.09 percent against 2020; while accumulated assets increased by 3.96 percent; exports of goods and services hiked by 14.01 percent; and imports were up by 16.16 percent.

Labour productivity of the whole economy at the current price in 2021 is estimated at 171.3 million VND (7,398 USD) per worker, 538 USD higher than that of 2020. The labour productivity in 2021 increased by 4.71 percent due to improved qualifications of workers with the proportion of trained workers with degrees and certificates in 2021 reaching 26.1 percent, higher than the 25.3 percent of 2020.

According to the official, along with policies to ensure social security, the consensus of administrations at all levels, sectors and localities, and the consensus, support, sharing and active participation of people from all walks of life and the business community, Vietnam has achieved encouraging socio-economic development results.

Source: VNA

IMF forecasts Vietnam's GDP to see highest growth in ASEAN 5 group

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