Vietnam: GDP growth moderates in 2012
January 23, 2013
According to data released by the General Statistics Office of Vietnam (GSO), GDP expanded 5.0% in 2012, which marks a moderation compared to the 5.9% expansion recorded in 2011.
At the sector level, the deceleration was the result of lower growth in all three main economic sectors. In particular, services slowed from a 7.0% expansion in 2011 to a 6.4% rise in 2012. Agriculture and industry also decelerated in 2012, growing 2.7% (2011: +4.0% year-on-year) and 4.5% (2011: +5.5% yoy), respectively.
The government targets growth of between 6.0% and 6.5% for this year.