Vietnam - BKT Annual Growth Rate

Vietnam's gross domestic product expanded by 7.31 percent year-on-year in the third quarter of 2019, following a marginally revised 6.73 percent growth in the previous quarter. This was the strongest GDP growth rate since the fourth quarter last year, as output expanded faster for industry and construction (10.05 percent vs 9.14 percent in Q2) and services (7.11 percent vs 6.85 percent). Meanwhile, agriculture, forestry and fisheries advanced softer (1.53 percent vs 2.04 percent in Q2). For the first three quarters of 2019, the economy grew 6.98 percent. Vietnam targets an economic growth of between 6.6-6.8 percent this year.

Vietnam's gross domestic product expanded by 6.71 percent year-on-year in the second quarter of 2019, following an upwardly revised 6.82 percent growth in the previous quarter. This was the weakest growth rate since the second quarter of 2017, as output of agriculture, forestry and fisheries expanded softer (2.19 percent from 2.81 percent in Q1). Meanwhile, output grew faster for both services sector (6.85 percent from 6.50 percent) and industry and construction (9.14 percent from 8.68 percent). For first half 2019 as a whole, the economy grew 6.76 percent. Vietnam targets an economic growth of between 6.6-6.8 percent this year.

Vietnam's gross domestic product grew by 6.79 percent year-on-year in the first quarter of 2019, following a 7.31 percent expansion in the previous quarter. This was the weakest growth rate since the first quarter last year. The growth was driven by services sector (6.50 percent from 7.61 percent in Q4), industry and construction (8.63 percent from 8.65 percent), and agriculture, forestry and fisheries (2.68 percent from 3.90 percent). Vietnam targets an economic growth of between 6.6-6.8 percent this year.