GDP growth in 2017 is estimated to have reach 6.81% (Photo: Thuy Hien/VNA)

At a press conference on 2017 socio-economic indexes in Hanoi on Wednesday, the General Statistics Office (GSO) reported that the agro-forestry-fishery sector grew 2.9%, beating last year’s 1.36%. The industrial and construction sector posted an 8% growth rate, and the service sector grew 7.44%. Exports rose more than 21% and imports increased nearly 21%. People’s living conditions generally improved. This year’s consumer price index rose 3.53%, within the government’s target.

Duong Manh Hung, Deputy Director of the National Accounts System Department, said: “For the first time, Vietnam’s exports and imports reached 400 billion USD and household consumption increased 7.35%, contributing 5.52 percentage points to GDP growth. Accumulated assets picked up 9.8%. New enterprises increased in number, average size, and registered capital. Capital mobilization and disbursement of foreign direct investment increased robustly. Efficient use of raw materials improved, contributing significantly to economic growth.”    

The GSO said it will be necessary to continue institutional reforms, improve the business environment and labor productivity, and understand the operation of the Industrial Revolution 4.0 to reach the growth target of 6.5-6.7% next year.