Vietnam economy expands 6.21% in 2016: official data

The Vietnamese economy failed to meet the growth target for 2016, expanding by only 6.21%, according to official data released by the General Statistics Office (GSO) on December 28.

Vietnam economy expands 6.21% in 2016: official data

The target set by the National Assembly at the start of the year was 6.7%. The official growth rate for 2016 was also lower than the 6.3% projection made by the National Financial Supervisory Commission.

The agricultural sector increased by 1.36%, the slowest pace since 2011, while industrial production and services grew by 7.57% and 6.98% respectively.

Vietnam’s per capita GDP was estimated at US$2,215, up US$106 from a year earlier, the GSO reported.

The consumer price index (CPI) in December rose 0.23% against the previous month, with medical and healthcare costs posting the largest increase at 5.30% because four provinces and cities hiked the prices of these services this month.

Compared with the same month of last year, December CPI went up 4.74% and median CPI in 2016 rose 2.66% against the previous year. Such figures were higher than last year but still below the 5% threshold set by the parliament.

In December, the gold price index dropped 2.52% over the previous month but rose 10.98% from the same month in 2015.

Meanwhile the US dollar index increased 1.52% against November and 0.8% compared with December 2015.

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