(PLVN) - According to the announcement, the gross domestic product (GDP) in the fourth quarter of 2024 is estimated to increase by 7.55% over the same period last year. The GDP for the whole year maintained a trend of each quarter being higher than the previous quarter (the first quarter increased by 5.98%, the second quarter increased by 7.25%, and the third quarter increased by 7.43%).
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| Ms. Nguyen Thi Huong - General Director of the General Statistics Office informed about socio-economic statistics in 2024 |
(PLVN) - According to the announcement, the gross domestic product (GDP) in the fourth quarter of 2024 is estimated to increase by 7.55% over the same period last year. The GDP for the whole year maintained a trend of each quarter being higher than the previous quarter (the first quarter increased by 5.98%, the second quarter increased by 7.25%, and the third quarter increased by 7.43%).
GDP increased steadily towards the end of the year
On January 6, 2025, the General Statistics Office held a press conference to announce socio-economic statistics for the fourth quarter and the year 2024.
Ms. Nguyen Thi Huong - General Director of the General Statistics Office informed that the gross domestic product (GDP) in the fourth quarter of 2024 is estimated to increase by 7.55% over the same period last year, only lower than the fourth quarter of 2017 and 2018 in the period 2011-2024 and the GDP for the whole year maintained the trend of each quarter being higher than the previous quarter (the first quarter increased by 5.98%, the second quarter increased by 7.25%, the third quarter increased by 7.43%).
GDP in 2024 is estimated to increase by 7.09% over the previous year, only lower than the growth rates of 2018, 2019 and 2022 in the 2011-2024 period. In the total added value growth of the whole economy, the agriculture, forestry and fishery sector increased by 3.27%, contributing 5.37%; the industry and construction sector increased by 8.24%, contributing 45.17%; the service sector increased by 7.38%, contributing 49.46%.
In particular, the agriculture, forestry and fishery sector in 2024 achieved a positive growth rate of 3.27% despite being affected by natural disasters and floods. In particular, the output of many agricultural products increased, livestock developed stably, and aquaculture output increased quite well. In the industrial and construction sector, the industry recovered positively and grew strongly compared to 2023. The added value of the industry in 2024 increased by 8.32% compared to the previous year.
Trade and tourism activities maintain high growth momentum, contributing positively to the growth of the service sector. The added value of the service sector in 2024 increased by 7.38%, higher than the growth rate of 6.91% in 2023.
Some market service sectors have a large proportion, making important contributions to the growth rate of total added value of the whole economy such as: Wholesale and retail increased by 7.96% compared to the previous year; transportation and warehousing increased by 10.82%; financial, banking and insurance activities increased by 7.11%; accommodation and catering services increased by 9.76%...
According to Ms. Huong, the GDP scale at current prices in 2024 is estimated at 11,511.9 trillion VND, equivalent to 476.3 billion USD. GDP per capita in 2024 at current prices is estimated at 114 million VND/person, equivalent to 4,700 USD, an increase of 377 USD compared to 2023. Labor productivity of the entire economy in 2024 at current prices is estimated at 221.9 million VND/worker (equivalent to 9,182 USD/worker, an increase of 726 USD compared to 2023); At comparable prices, labor productivity increased by 5.88% due to improved qualifications of workers (the rate of trained workers with degrees and certificates in 2024 is estimated at 28.3%, 1.1 percentage points higher than in 2023).
Consumer price index increased by 3.63%
According to the announcement at the press conference, the average consumer price index (CPI) in the fourth quarter of 2024 increased by 2.87% compared to the fourth quarter of 2023. For the whole year of 2024, the CPI increased by 3.63% compared to the previous year, achieving the target set by the National Assembly.
The price index of food and catering services increased by 4.03% compared to the previous year, causing the overall CPI to increase by 1.35 percentage points; The price index of housing, electricity, water, fuel and construction materials increased by 5.2% compared to the previous year, causing the overall CPI to increase by 0.98 percentage points, mainly due to the price index of household electricity increasing by 7.68% due to increased demand for electricity, along with EVN adjusting the average retail electricity price, causing the overall CPI to increase by 0.25 percentage points.
Factors contributing to curbing the CPI growth rate in 2024 are: The price index of the postal and telecommunications group in 2024 decreased by 1.02% compared to 2023 due to the decrease in prices of old generation phones when businesses applied discount programs to stimulate demand for smartphones.
Core inflation (CPI excluding food, fresh food, energy and state-managed goods including health and education services) in December 2024 increased by 0.25% compared to the previous month, up 2.85% compared to the same period last year. On average in 2024, core inflation increased by 2.71% compared to 2023, lower than the average CPI increase (3.63%), mainly due to the prices of food, foodstuffs, electricity, education services, and health services, which are factors affecting the increase in CPI but are excluded from the list of goods for calculating core inflation.
Source: https://baophapluat.vn/gdp-nam-2024-uoc-tang-709-post536976.html
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