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City sees lowest GDP-growth quarter in decade: Statistics office
The 4-percent year-on-year growth of Ho Chi Minh City’s gross domestic product (GDP) in the first quarter of 2009 was the lowest this decade, the HCMC Statistics Office said in a statement released on the weekend.
The city’s GDP was slightly over VND58 trillion (US$3.3 billion), it said.
The statement said the global economic downturn has hit most sectors to varying degrees, especially export, and forced numerous smaller companies to shut down.
Fresh direct foreign investment in the first quarter dropped to $515 million against $1.9 billion a year ago.
The city’s export revenue fell by 11 percent to slightly over $4.4 billion.
Some export commodities put in good performances. For example, rice shipments totaled 737,500 tons worth $315 million, up 2.8 percent; seafood was up 5.3 percent to $86 million; clothing up 6.7 percent to $388 million and footwear up 2.6 percent to $5.5 million.
Import spending dropped a much heftier 30 percent to $3.8 billion, partly because of the weaker demand for materials.
The city’s CPI grew 1.38 percent in the first quarter, up 11.67 percent year-on-year.
Up north, the Hanoi Statistics Office said the capital’s CPI for the first three months was up by 15.18 percent year-on-year. The rate for March was minus 0.07 percent and followed a 1 percent rise in February and 0.32 percent in January.
Vinh Bao
thanhnien
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