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Vietnam posts highest first-quarter GDP growth in 10 years

Staff Writer | March 28, 2018
Vietnam is estimated to gain gross domestic product (GDP) growth of over 7 percent in the first quarter of this year, the highest first-quarter growth rate in the last 10 years.
Vietnam industry
Vietnam   Industry and construction sector grew 11 percent
This is according to the Vietnamese Ministry of Planning and Investment.

Meanwhile, Vietnam's industry and construction sector grew 11 percent, while purchasing power surged due to the macroeconomic stability with personal spending on the rise.

The country will make GDP growth of 6.8 percent this year, if the private sector engages in the local economy more robustly, said a ministry official.

Vietnam's top legislature targeted GDP growth of 6.5-6.7 percent in 2018. The growth rate was 6.81 percent in 2017.

Last year, Vietnam's nominal GDP stood at nearly 5,008 trillion Vietnamese dong ($221 billion), its General Statistics Office said, adding that GDP per capita was $2,385, 170 dollars higher than that in 2016.