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Vietnam grows at 5.89 percent in 2011
Vietnam achieved a GDP growth rate of 5.89 percent in 2011, the General Statistics Office (GSO) announced in Hanoi on December 29.
According to the GSO, the national economy grew at 5.57 percent in the first quarter, 5.68 percent in the second quarter, 6.07 percent in the third quarter, and 6.10 percent in the last quarter.
Although 2011 GDP growth was much lower than the 6.78 percent in 2010, the rate was described as 'comparatively high' and 'reasonable', given national and global difficulties, said the GSO.
Of the 5.89 percent economic growth, the service sector contributed 2.91 points percent, industry and construction 2.32 points percent and the agriculture, forestry and aquaculture sector 0.66 point percent.
Construction production grossed VND676.4 trillion in value, to which the State sector contributed VND119.6 trillion, the non-state sector VND529.4 trillion, and the FDI sector 27.4 trillion.
The total social investment capital reached VND877.9 trillion, up 5.7 percent against last year and equal to 34.6 percent of the GDP.
About VND178 trillion sourced from the State budget was allocated for investment projects, up 6.7 percent from 2010 and overfullfilling the target set by 1.8 percent.
As estimated, total State budget revenue was VND674.5 trillion, 20.6 percent higher than 2010 and equal to 113.4 percent of the set target, and total State expenditure was VND796 trillion. State budget overspending accounted for 4.9 percent of the GDP (well below the set target of 5.3 percent).
Total means of payment increased by 10 percent compared to 2010 while total outstanding credit was up 12 percent.
With the Government’s great efforts to curb inflation, the consumer price index in December 2011 was up only 0.53 percent against November. However, the 2011 CPI remained high, up 18.58 percent from 2010.
Gold price index increased by 24.09 percent compared to 2010, while the US dollar price was up 2.24 percent.
The country’s total population increased by 1.04 percent compared to 2010 to reach 87.84 million, of which men account for 49.5 percent, up 1.1 percent, and women make up 50.5 percent, up 0.99 percent.
Of the total population, 26.88 million live in urban areas (accounting for 30.6 percent) while the rural population is 60.96 million (representing 69.4 percent).
The unemployment rate within the working age group was 2.27 percent (3.6 percent in urban areas and 1.71 percent in rural areas) while the rate of underemployment within the working age group was 3.34 percent (1.82 percent in urban areas and 3.96 percent in rural areas).
Despite the difficulties in 2011, people’s living conditions improved significantly thanks to the effective implementation of the Party’s and Government’s social welfare policy. Food shortages decreased by 21.7 percent in terms of people and 14.6 percent in terms of households.
In 2011, The Government allocated VND3.290 trillion to 62 poor districts nationwide.
vietnamnet
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