Vietnam's GDP expands 5.05 pct in 2023-Xinhua

Vietnam's GDP expands 5.05 pct in 2023

Source: Xinhua

Editor: huaxia

2023-12-29 12:36:45

HANOI, Dec. 29 (Xinhua) -- Vietnam posted a gross domestic product (GDP) growth at 5.05 percent in 2023, short of the National Assembly's target of 6.5 percent, according to the General Statistics Office (GSO) on Friday.

The sector of agriculture, forestry and fishery grew 3.83 percent, while industry and construction rose 3.74 percent, with services up 6.82 percent.

The cited three sectors contributed 8.84 percentage points, 28.87 percentage points and 62.29 percentage points to the overall growth, respectively, said the office.

In the fourth quarter alone, the Southeast Asian country saw economy expand 6.72 percent year-on-year.

Nguyen Thi Huong, GSO general director, said it was such a huge challenge to achieve the 2024 socio-economic development goal.

Sectors need to strengthen forecasting, apply flexible leadership to respond to emerging situations, while implementing a series of policies on supporting recovery and socio-economic development.

Last year, Vietnam posted a GDP growth of 8.02 percent.

Vietnam will strive to achieve a GDP growth of 6-6.5 percent next year, according to a resolution on the socio-economic development plan for 2024 approved by its top legislature.