According to the General Statistics Office, GDP in the fourth quarter of 2023 is estimated to increase by 6.72% over the same period last year. GDP for the whole year of 2023 is estimated to increase by 5.05% over the previous year, only higher than the growth rates of 2.87% and 2.55% in 2020 and 2021 in the period 2011-2023.
GDP scale at current prices in 2023 is estimated at 10,221.8 trillion VND, equivalent to 430 billion USD. GDP per capita in 2023 at current prices is estimated at 101.9 million VND/person, equivalent to 4,284 USD, an increase of 160 USD compared to 2022.
Source: General Statistics Office
In the total added value growth of the entire economy, the agriculture, forestry and fishery sector increased by 3.83%, contributing 8.84%; the industry and construction sector increased by 3.74%, contributing 28.87%; the service sector increased by 6.82%, contributing 62.29%.
Notably, the agriculture, forestry and fishery sector grew positively, with the export turnover of some agricultural products increasing sharply and livestock developing steadily. The added value of the agricultural sector in 2023 increased by 3.88% compared to the previous year, the forestry sector increased by 3.74% and the fishery sector increased by 3.71%.
In the industrial and construction sector, the industry faces many difficulties and challenges in the context of declining global demand. The added value of the entire industry in 2023 increased by only 3.02% compared to the previous year, the lowest increase in the years in the period 2011-2023.
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 increases of 2.01% and 1.75% in 2020-2021.
In 2023, Vietnam's GDP will grow by 5.05%.
The consumer price index (CPI) in December 2023 increased by 0.12% compared to the previous month. Compared to the same period last year, the CPI in December increased by 3.58%. The average CPI in the fourth quarter of 2023 increased by 3.54% compared to the fourth quarter of 2022.
For the whole year of 2023, CPI increased by 3.25% compared to the previous year, achieving the target set by the National Assembly.
The average core inflation in 2023 will increase by 4.16% compared to 2022, higher than the average CPI increase (up 3.25%). The main reason is that the average domestic gasoline price in 2023 will decrease by 11.02% compared to the previous year, the gas price will decrease by 6.94%, which is a factor that restrains the CPI growth rate but belongs to the group of goods excluded from the list of core inflation calculations.
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