Vietnam's GDP grew an estimated 9.01 per cent in the first nine months of the year from the same period last year, according to the Statistics Office. Third-quarter growth reached 9.95 per cent, up from 8.15 per cent in the first quarter and 8.81 per cent in the second.
In the third quarter, industry and construction grew 12.5 per cent, accounting for 51.57 per cent of the increase in the economy's total gross value added. Services grew 9.54 per cent and contributed 43.29 per cent, while agriculture, forestry and fisheries rose 4.21 per cent, contributing 5.14 per cent.
For the first nine months, industry and construction expanded 11.21 per cent, contributing 49.62 per cent to overall growth in gross value added. Services grew 8.69 per cent and contributed 45.03 per cent, while agriculture, forestry and fisheries rose 4.02 per cent, contributing 5.35 per cent.
Within industry, gross value added rose 11.02 per cent in the first nine months, accounting for 41.39 per cent of the economy's overall growth. Manufacturing remained the main driver, growing 11.36 per cent and contributing 33.85 per cent. Construction expanded 12.22 per cent, contributing 8.23 per cent.
The Statistics Office said industrial growth remained strong as growth drivers broadened, several large-scale projects began operations, export orders recovered and public investment accelerated, creating spillover effects for production and construction.
Several service industries also recorded strong growth. Transport and storage rose 11.03 per cent, wholesale and retail 9.85 per cent, financial, banking and insurance services 9.45 per cent, and accommodation and food services 8.83 per cent.
Agriculture, forestry and fisheries grew 4.02 per cent in the first nine months. Agriculture rose 3.72 per cent, forestry 3.99 per cent and fisheries 4.99 per cent. Higher productivity and output of rice, fruit, livestock and fisheries helped meet domestic and export demand.
By economic structure, agriculture, forestry and fisheries accounted for 10.65 per cent of GDP in the first nine months, industry and construction 38.35 per cent, services 42.97 per cent, and taxes on products less subsidies 8.03 per cent.
From the expenditure side, final consumption increased 8.51 per cent in the first nine months, while asset accumulation rose 17.88 per cent. Exports of goods and services increased 21.29 per cent, while imports rose 27.19 per cent.
In the third quarter alone, final consumption grew 8.96 per cent and asset accumulation 21.39 per cent. Exports of goods and services rose 23.27 per cent, while imports increased 28.75 per cent year on year.
The Statistics Office said agricultural production remained stable during the first nine months, with expanded areas for perennial crops and strong poultry production. Fisheries output reached 7.89 million tonnes, up 3.9 per cent, while harvested timber increased 5.3 per cent.
Industrial production rose 12.3 per cent in the first nine months, with manufacturing up 12.9 per cent. Manufacturing sales increased 12.8 per cent, while inventories rose 11.9 per cent.
More than 223,900 businesses were newly established or resumed operations during the nine-month period, down 3.2 per cent year on year. About 172,000 businesses withdrew from the market, down 1.7 per cent.
A survey found that 39.2 per cent of manufacturing and processing businesses expected their fourth-quarter business conditions to improve compared with the third quarter.