At a press conference announcing socio-economic statistics for the fourth quarter and 2023 in Hanoi on the morning of December 29, General Director of the General Statistics Office Nguyen Thi Huong said that Vietnam's socio-economic situation in 2023 continued to adjust in a positive direction. The macro economy was stable, inflation was controlled, and a large balance was achieved, while many important goals in various fields were achieved, maintaining its position as a bright spot in the region and the world. According to data from the General Statistics Office, Vietnam's GDP (gross domestic product) in 2023 is estimated to increase by 5.05%, higher than the growth rates of 2020 and 2021 in the period 2011-2023. Specifically, GDP in the fourth quarter of 2023 is estimated to increase by 6.72% over the same period last year, with a more positive growth momentum than in previous quarters. In the fourth quarter of 2023 GDP, final consumption contributed 53.18%, asset accumulation contributed 44.18%, and exports of goods and services increased by 8.68%. The GDP scale at current prices in 2023 is estimated at VND 10,221.8 trillion, equivalent to USD 430 billion. GDP per capita in 2023 at current prices is estimated at VND 101.9 million/person, equivalent to USD 4,284, an increase of USD 160 compared to 2022. In the economic segment, the agriculture, forestry and fishery sector contributed 8.84%, the industry and construction sector contributed 28.87%, and the service sector contributed 62.29%. The General Statistics Office also emphasized the positive development in the agriculture, forestry and fishery sector, especially in the export of agricultural products and the application of high technology in white-leg shrimp farming. The added value of the agricultural sector in 2023 increased by 3.88% over the previous year, contributing 0.34 percentage points to the total added value growth of the entire economy; the forestry sector increased by 3.74% but accounted for a low proportion, so it only contributed 0.02 percentage points; the fishery sector increased by 3.71%, contributing 0.1 percentage points. However, the industrial and construction sector faced many difficulties due to the decrease in global aggregate demand, causing the added value to increase by only 3.02% over the previous year, the lowest increase in the period 2011-2023. Along with that, trade and tourism activities maintained high growth momentum, contributing positively to the growth of the service sector. The added value of the service sector in 2023 increased by 6.82% over the previous year, higher than the increase of 2.01% and 1.75% in 2020-2021. In addition, some market service sectors have a large proportion, contributing a lot to the growth rate of total added value of the whole economy as follows: wholesale and retail increased by 8.82% over the previous year, contributing 0.86 percentage points; transportation and warehousing increased by 9.18%, contributing 0.55 percentage points; financial, banking and insurance activities increased by 6.24%, contributing 0.37 percentage points; accommodation and catering services increased by 12.24%, contributing 0.31 percentage points. Regarding the economic structure in 2023, the distribution proportion is 11.96% for the agriculture, forestry and fishery sector, 37.12% for the industry and construction sector, 42.54% for the service sector, and 8.38% for product taxes minus product subsidies.Labor productivity of the entire economy in 2023 at current prices is estimated at 199.3 million VND/worker, equivalent to 8,380 USD/worker, an increase of 274 USD compared to 2022. At comparable prices, labor productivity increased by 3.65% due to improved qualifications of workers (the rate of trained workers with degrees and certificates in 2023 is estimated at 27%, 0.6 percentage points higher than in 2022).
The General Statistics Office also acknowledged that, despite many positive results, in 2024, Vietnam's socio-economic situation will face many difficulties and challenges, especially in the context of an unstable and rapidly fluctuating world economy. To achieve the socio-economic development goals in 2024, the joint efforts and consensus of the Government, businesses, and people are considered important, along with a focus on effectively implementing policies to support recovery and development./.Mai Huong
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