Vietnam: GDP growth moderates in first quarter
March 30, 2012
According to data released by the General Statistics Office of Vietnam (GSO), GDP expanded 4.0% in the first three months of 2012, which marked a moderation compared to the 6.1% increase recorded in the previous quarter and the 5.6% expansion recorded in the same period last year. At the sector level, the result was driven by a moderation in all the three main sectors. In particular, industry and construction experienced the strongest deceleration, expanding 2.9% over the same period of the previous year (Jan-Mar 2011: +5.7% year-on-year). Services slowed from a 5.9% expansion in the first three months of 2011 to a 5.3% rise and, finally, agriculture rose 2.8%, down from the 3.6% increase recorded in the January-March period in 2011. According to the GSO, GDP growth could reach between 6.0% and 6.5% in 2012.
Author: Armando Ciccarelli, Head of Data Solutions