Positive economic panorama will continue in Q4 and beyond
19:07 | 08/10/2019
VGP – Exports to all of Viet Nam’s FTA partners grew well in the first nine months this year, contributing a trade surplus of US$ 6 billion in the reviewed period, according to the Ministry of Industry and Trade.

Ngo Chung Khanh, Deputy Director of the Multilateral Trade Policy Department said after the Comprehensive and Progressive Agreement for Trans-Pacific Partnership came into effect, Viet Nam’s exports to other signatories witnessed positive growth, including 33% to Canada and approximately 24% to Mexico.

Export value reached 194.3 billion, up 8.2% in the Jan-Sep period, meeting 73.9% of this year’s goal, the ministry’s latest report shows.

There were 28 items with export revenue reaching more than US$1 billion each, accounting for nearly 90% of Viet Nam’s total export volume, said the ministry

Despite rising trade tensions, it is encouraging that Viet Nam gained a trade surplus of US$6 billion.

Export growth has contributed to the overall positive economic panorama in the first nine moths, in which the GDP expanded 6.98%, the highest growth rate over the past 9 years while inflation was controlled at three-year low.

Industrial production increased 9.6% while foreign investment inflow rose to more than US$15 billion and disbursed volume witnessed a year-on-year increase of 7.3% to US$14.22 billion.

Noticeably, manufacturing and processing continued as the major growth engine of the economy in the third quarter with a year-on-year growth rate of 10.3%, Mai Tien Dung, Minister-Chairman of the Government Office told reporters on October 4 following the Cabinet meeting.

Dung said that 2019 is expected to be the second consecutive year that the Government will realize or out perform all 12 goals set by the National Assembly, Dung said.

In addition, international organizations have shown their optimision about Viet Nam’s economic growth in 2019 and years beyond.

The Asian Development Bank forecasted that Viet Nam’s economy may expand 6.8% and 6.7% in 2019 and 2020 respectively while Citigroup Inc. increased the country’s GDP growth from 6.7% to 6.9% this year.

Viet Nam jumped three spots to the 42nd position out of 129 world economies in the Global Innovation Index (GII) as announced by the World Intellectual Property Organisation (WIPO) in New Delhi, India on July 24.

Meanwhile, the country’s tourism jumped four steps from the position 67th to 63th among 140 countries and economies in the World Economic Forum (WEF)’s The Travel and Tourism Competitiveness Report 2019./.

By Ngoc Van

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