Vietnam: Economy accelerates in 2014
January 1, 2015
In 2014, the economy expanded 6.0% over the same period of the previous year, according to data released by the General Statistics Office (GSO) of Vietnam. The figure marked an improvement over the 5.4% rise recorded in 2013.
At the sector level, last year, agriculture expanded 3.5% over the same period of the previous year (2013: +2.7% year-on-year). In addition, industry rose 7.1% in 2014, which was an improvement over the 5.4% increase recorded in 2013. Conversely, services expanded 6.0% (2013: +6.6% yoy).
The figure for Q4 showed that GDP expanded 7.0% over the same period of the previous year, up from the 6.1% increase seen in the previous quarter. The figure marked the strongest expansion since Q4 2010.
Author: Dirina Mançellari, Senior Economist