MOIT VIETNAM | Vietnam second-quarter GDP growth slows to 0.36% due to coronavirus pandemic
/ News
Vietnam second-quarter GDP growth slows to 0.36% due to coronavirus pandemic
A man paints steel structures of a new factory in Hanoi, Vietnam May 30, 2018. Picture taken May 30, 2018. Photo: Reuters
HANOI -- Vietnam’s economic growth in the second quarter fell to its slowest pace in decades due to the impact of the coronavirus pandemic.
Gross domestic product in the April-June period grew 0.36% from a year earlier, compared with an expansion of 6.73% in the same period last year, the government’s General Statistics Office said in a statement on Monday.
“The complicated development of the COVID-19 pandemic has left a negative impact on all socio-economic aspects,” the GSO said.
The services sector in the second quarter contracted 1.76% from a year earlier, while the industrial sector rose 1.38% and the agriculture sector was up 1.72%, the GSO said.
The Southeast Asian country is seeking to resume economic activity after recording only 355 COVID-19 cases and no deaths due to the virus. Vietnam has not seen any community infections for more than two months.
The International Monetary Fund forecast last month Vietnam’s economic growth will slow to 2.7% in 2020, but Prime Minster Nguyen Xuan Phuc said his government will try to keep growth above 5%.
According to the GSO, Vietnam’s exports in the first half of this year fell 1.1% from a year earlier to $121.21 billion, while imports were down 3.0% to $117.17 billion, resulting in a trade surplus of $4.04 billion.
The country’s consumer prices in June rose 3.17% from a year earlier, it said. Average consumer prices in the January-June period rose 4.19%.
Vietnam’s industrial output in June rose 7.0% from a year earlier, the GSO added.
Source: tuoitrenews
-
/ News / Activities
Highlighting the Historic Bond and Enduring Friendship Between Vietnam and Laos
On the morning of October 25, in Hanoi, the Ministry of National Defense organized a scientific seminar titled “Vietnamese Volunteer Soldiers and M...
-
/ News / Activities
Vietnam and Laos Strengthen Image Promotion, Trade, and Tourism Initiatives
The Vietnam-Laos Trade Fair showcases over 20 booths from various provinces in Vietnam, as well as some booths from districts in Xiengkhouang Provi...
-
/ News
Implementation Plan for the Memorandum of Understanding on Developing and Connecting Border Trade Infrastructure between Vietnam and Laos
Deputy Prime Minister Bùi Thanh Sơn Signs Decision No. 1247/QD-TTg Issuing the Plan to Implement the Memorandum on Developing and Connecting Border...
Others
