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| The export and import of goods and services are estimated to rise by 8.68 percent and 8.76 percent__Photo: VNA |
Vietnam’s gross domestic product (GDP) growth rate is estimated at 5.05 percent in 2023, the General Statistics Office (GSO) announced on December 29.
Specifically, the economy is estimated to expand 6.72 percent year-on-year in the fourth quarter, higher than the 3.41 percent of the first quarter, the 4.25 percent of the second quarter, and the 5.47 percent of the third quarter.
In the year, the agriculture, forestry and fishery sector is estimated to grow by 3.83 percent, contributing 8.84 percent to the economy’s total added value, while the industrial and construction sector is estimated to increase by 3.74 percent, contributing 28.87 percent, and the service sector by 6.82 percent, and 62.29 percent.
In Q4, final consumption expenditure rose by an estimated 4.86 percent over the same period last year, contributing 53.18 percent to the overall growth rate of the economy. The figures are 6.21 percent and 44.18 percent for asset accumulation. Meanwhile, the export and import of goods and services are estimated to rise by 8.68 percent and 8.76 percent, respectively. The trade surplus is estimated to contribute 2.64 percent to the overall growth rate of the economy.
The scale of GDP at current prices in 2023 is estimated at VND 10.2 quadrillion (USD 430 billion). GDP per capita is estimated to reach VND 101.9 million (USD 4,284), USD 160 higher than that in the previous year.
Labor productivity of the entire economy at current prices is estimated at VND 199.3 million (USD 8,380) per worker, up USD 274 than the 2022 figure. Labor productivity based on comparative prices rose 3.65 percent thanks to improved qualifications of workers. The rate of trained workers with degrees or certificates this year is estimated to reach 27 percent of the workforce, 0.6 percentage point higher than in 2022.
The GSO forecast that Vietnam continues to face many difficulties and challenges in 2024.
In order to achieve socio-economic development targets next year, GSO General Director Nguyen Thi Huong stressed the need for the engagement of the Government, the business community and people nationwide.
Ministries and agencies should improve forecasts, and take flexible and appropriate measures in the new situation to effectively and concertedly implement socio-economic recovery and development support policies, she added.- (VNA/VLLF)
