High economic growth rate was maintained in the first 9 months of 2024, GDP is estimated to increase by 6.82% over the same period last year, the manufacturing and processing industry is a bright spot, with a trade surplus of tens of billions of USD, but the number of businesses withdrawing from the market is still too large.
GDP increased by 6.82%
Typhoon Yagi has a major impact on the economy. The economic impact directly affects growth. According to Ms. Nguyen Thi Huong, Director General of the General Statistics Office, the high growth target of 6.8-7% is a big challenge for the economy this year.
With GDP growth in the first quarter reaching 5.66%, the second quarter reaching 6.93%, the third quarter reaching 7.4%, to achieve GDP growth of about 7% this year, GDP growth in the fourth quarter must reach 7.5% compared to the same period last year.
According to the report on the socio-economic situation in the third quarter and the first 9 months of 2024 just released by the General Statistics Office. The announcement said that the economy in the past 9 months had many notable bright spots, but the number of businesses withdrawing from the market was still too large, showing that businesses still faced many difficulties in production, investment and business.
In the first 9 months of 2024, GDP growth rate reached 6.82%, while inflation increased by 3.88%.
Bright spot of processing and manufacturing industry
The General Statistics Office said that the added value of the entire industrial sector in the first 9 months of 2024 is estimated to increase by 8.3% over the same period last year. In which the industry processing and manufacturing industry increased by 9.7%, contributing 2.4% to the total added value of the entire economy.
By locality, the industrial production index in the first 9 months of this year compared to the same period last year increased in 60 localities and decreased in 3 localities.
The inventory index of the entire processing and manufacturing industry as of September 30 is estimated to have increased by 5.2% compared to the same period last month and by 8.5% compared to the same period last year.
Trade surplus of nearly 20.8 billion USD
Exports continue to be an important growth driver for the economy. In the third quarter of this year, preliminary export turnover reached 108.6 billion USD, up 15.8% over the same period last year.
In the first 9 months of 2024, the total turnover export Preliminary goods reached 299.6 billion USD, up 15.4% over the same period last year.
Meanwhile, the preliminary import turnover of goods in the third quarter reached 99.7 billion USD, up 17.2% over the same period last year.
The preliminary value of imported goods in the first 9 months reached 278.8 billion USD, up 17.3% over the same period last year.
Regarding the import and export market of goods in the first 9 months of 2024, the US is Vietnam's largest export market with an estimated turnover of 89.5 billion USD.
In contrast, China is Vietnam's largest import market with an estimated turnover of 105 billion USD.
Total 9 months trade surplus economy nearly 20.8 billion USD, slightly down compared to the trade surplus in the same period in 2023, estimated at 22.1 billion USD.
Number of businesses withdrawing from the market increased by 21.5%
In the past 9 months, 20,300 new businesses were established each month, while the number of businesses withdrawing from the market each month was about 18,200.
Specifically, the whole country had more than 183,000 newly registered and resuming operations enterprises in 9 months, an increase of 9.7% over the same period in 2023.
On average, there are more than 20,300 cases per month. New business establishment and back to work.
The number of enterprises withdrawing from the market was 163,800, an increase of 21.5% over the same period last year, an average of 163,800 enterprises per month. 18,200 businesses withdrew from the market.
Regarding the business trends of enterprises in the processing and manufacturing industry, the survey results in the third quarter of the General Statistics Office recorded: 34.7% of enterprises assessed the production and business situation as better, 42.6% of enterprises said that the production and business situation was stable and 22.7% of enterprises assessed that they encountered difficulties compared to the second quarter of 2023.
Forecasting the business situation in the fourth quarter of 2024, 42.2% of enterprises assessed that the trend would improve, 40.4% of enterprises said that the production and business situation would continue to be stable, and 17.4% of enterprises predicted that it would be more difficult than in the third quarter of 2024.
International visitors to Vietnam reached 12.7 million arrivals
Quantity international visitors to Vietnam September 2024 reached nearly 1.3 million arrivals, an increase of 20.9% over the same period last year.
In the first 9 months of 2024, international visitors to Vietnam reached more than 12.7 million, an increase of 43% over the same period last year.
The General Statistics Office said that total retail sales of goods and consumer service revenue at current prices is estimated at VND4,703,400 billion, up 8.8% over the same period last year.
Source
Comment (0)