WB: Vietnam’s Economy Registers Strong Growth of 13.7%
Vietnam’s GDP grew by 13.7% year-on-year in the third quarter. Photo: VNA The bank said in its “Vietnam Macro Monitoring” report released on October 20 that Vietnam’s GDP grew by 13.7% year-on-year in the third quarter of this year and 8.9% over the first three quarters. The report shows that industrial production and retail sales posted another month of high growth rates (13.0% and 36.1% year-on-year) which could be attributed both to strong economic activities and to the low-base effects. Both exports and imports growth moderated in September due to weakening demand from major export markets. FDI commitment fell in September, affected by the heighted uncertainty about the global economic prospects while FDI disbursement continued to improve, the report says. Despite softening energy prices, CPI inflation accelerated from 2.9% in August to 3.9% in September largely due to higher education costs and rents. Core CPI inflation accelerated as well, from 3.1% in August to ...