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Economic growth picks up slightly
Vietnam’s economy picked up pace in the second quarter to take first-half growth to 3.9 percent, according to the latest figures from the General Statistics Office.
The economy grew at 4.5 percent in the second quarter, faster than the 3.1 percent posted in the first quarter of the year.
However, it is still much lower than the full-year economic target of 10 percent growth and the 9.4 percent growth recorded last year.
The latest economic figures, released on July 1, contained some bright spots and some gloomy news.
In the first six months of the year, the value of retail sales of goods and services rose 20 percent from the same period a year ago.
Industrial production value increased 4.8 percent and the value of production in the agricultural, forestry and fishery sectors increased 2.5 percent in the first half.
In the six-month period, the Consumer Price Index (CPI) rose by 10.3 percent from the same period of 2008.
The latest data showed positive signs of the economy was lifting out of the slump which began about a year ago, said Dr. Le Dang Doanh from the Institute of Development Studies, who is former consultant to the Ministry of Planning and Investment.
However, Doanh pointed out that some sectors, such as tourism, were still not performing well.
In the first six months this year, the number of international arrivals to Vietnam dropped 19.1 percent, according to the General Statistics Office.
Doanh also said the export figures, which showed the value of exports fell 10.1 percent in the first half, proved the national economy had not yet fully escaped the shadow of the global economic crisis.
Dr. Bui Quang Tuan, deputy head of Vietnam Institute of Economics, forecast Vietnam’s unemployment situation could deteriorate this year and next.
The General Statistics Office has not yet revealed the official unemployment rate for the first six months of 2009.
Cam Van Kinh
vietnews
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