According to General Statistics Office, GDP growth rate of 2013 is estimated at 9.3%. Since GDP growth of QII and QI recorded at 5% and 4.89% respectively.
According to General Statistics Office, GDP growth rate of 2013 is estimated at 9.3%. Since GDP growth of QII and QI recorded at 5% and 4.89% respectively, both are higher than those of same period last year. This growth rate is not impressive in comparison to the economic growth rate of Vietnam in previous years, but in the context of the current difficulties, the GDP growth rate over the year reflects a positive development of the economy. The positive developments are also reflected in other economic indicators such as the CPI and balance of payments.
After inflation was under control at less than 7% in 2012 and inflation over 2013 continued to be maintained at a low level. This year’s CPI had the lowest increase over of about 6%. In the last 10 years. The contributing factors to CPI growth include possible increase in price of drugs and medical services, goods and services, apparels.
The fluctuation of food category’s price index contributed to the stable and mildly-increased CPI in 2013. The price index of food category rose considerably during Lunar New Year holiday, but remained stagnant and even contracted in the following months.
Balance of Payment Export value of 2013 reached US$ 3 billion of economic exuberance. Exportation turnover reached U.S. $ 125.79 billion while that figure of importation was U.S. $ 125.14 billion. Total value of exportation of the first 6 months increased because of foreign investment sector with large proportion of total exports such as electronics, computers and parts, phone the and parts, shoes and textiles.
In general, BoP remained at low level of deficit; the value of the balance of payments over the year was maintained on balance considering that the importation and exportation value increased over 2012. Domestic aggregate demand and exportation demand of foreign markets have been significantly improved. EU still was the largest exportation market of Vietnam in 2013.
Industrial Production Index
The index of industrial production over 2013 increased by 7.71% compared to the same period in 2012. The observers identified that government policies to help enterprises may take effect gradually. The index of industrial production of QII 2013 increased by 1.5 basis point compared to that of QI. In the meantime, the QII of 2012 increased by only 0.4 basis points compared to QI.
Foreign Direct Investment
At the period ending 2013, committed foreign direct investment is over US$ 20,8 billion, an increase of 54.2%. Meanwhile, in terms of investment partners, Japan continues to lead with a total investment of 5,682 billion U.S. dollars, which accounts for 27.3% of total registered investment capital in Vietnam. This result showed that Vietnam is still an attractive destination of foreign investors even in difficult economic crisis.
Positive and bright notes of the economy
End of 2013, Vietnam’s economy had continuously been exposed some harsh points, however, there are some positive advantages of the economy which supposedly representative for the economic recovery as well.
- GDP growth rate of 2013 is estimated at 9.3% in term of other indicators have been positively changed
- The inflation was low and remains stable; CPI of 2013 is stable and increases at low level as 6%.
- The value of imported goods is improved; export value increased by 15.4% and imports increased by 15.3%.
- The index of industrial production rose steadily, particularly in the first 6 months IIP index up 5.2%
- FDI inflows continued to rise 54.2%
Business & Investment Opportunities
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