Although the rate of growth in Vietnam has slowed down from a year prior, it still has a growth rate that many developed nations would envy. [Why Vietnam is a country that is rising up.]
- GDP grew 5.3% in 2009, down from 6.2% in 2008.
- The gross value of output from the agricultural sector was $18 billion, up 1.8%. The sector accounted for 21% of GDP.
- Output from the industry and construction sector totaled $36 billion, up 5.5%, accounting for 40% of GDP.
- The total value of services rose 6.6% to $35 billion, accounting for 39% of GDP.
Jason Folkmanis for BusinesWeek reports that in addition to positive yearly growth, Vietnam’s economy also grew in the fourth quarter. GDP grew 6.9% from a year earlier after a revised 6.04% gain in the third quarter. [Exploring the frontier markets.]
In an effort to avoid overheating in the markets, the government has taken the focus away from growth and focused rather on controlling inflation. Trade figures are on track to improve with the global economy and should sustain if growth is solid.
For more stories about Vietnam, visit our Vietnam category.
- Market Vectors Vietnam (NYSEArca: VNM): up 8.1% in the last month
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