Vietnam’s economy slows first quarter of 2012

Although Vietnam’s economy in the first quarter of 2012 has grown, the pace is slower than the same period in previous years, said the Ministry of Planning and Investment on March 28.

Vietnam's economic growth in the first quarter of 2012 slowed to a three-year low as domestic demand weakened and local industries grappled with high inventories.

The country’s Gross Domestic Product in the first quarter of the year grew to 4 per cent from a year ago, the lowest rate since January-March 2009, said the ministry.

Exports in the first three months of 2012 rose 23.6 per cent to US$24.5 billion while imports rose 6.9 per cent to $24.8 billion.

Industrial production in the first quarter slowed to 4.1 per cent from a year ago, from 9.3 per cent in the same period in 2011.

In 2011 the industrial sector contributed about a third to Vietnam's Gross Domestic Product value.

Inflation in March slowed to 14.15 per cent, from 16.44 per cent in February, and the Consumer Price Index for this month only rose   0.16 per cent from February, the lowest in 20 months, according to government statistics.

By B.Minh – Translated by T.Huong

Other news

Most view


VNPT & SeABank cooperate to enhance connections

The Vietnam Posts and Telecommunications Group (VNPT) and SeABank just co-signed cooperation agreement, aiming to develop the two sides’ economic, business and investment potential.


185 leading domestic & in't enterprises join in VN ETE 2018

The Vietnam Exhibition of Electrical Technology and Equipment (Vietnam ETE 2018) and the Exhibition of Products, Technologies for Energy Saving and Green Power (ENERTEC EXPO 2018) yesterday kicked off in HCMC’s Saigon Exhibition Convention Center in district 7.

Self - introduction

VNPT targets to be leading digital service provider in Vietnam

The grand opening ceremony of the VNPT-Information Technology Company (VNPT-IT), a new member of the Vietnam Posts and Telecommunications Group (VNPT), was held yesterday in Hanoi. With thousands of IT engineers and the focus on developing state-of-the-art technological products related to Artificial Intelligence (AI), Bigdata, and Blockchain, the new company is considered the main force to help VNPT fulfill the goal of becoming a leading digital service provider in Vietnam and an important Digital Hub of the neighborhood as well as the world.

Stock market

SAS profits VND 118bln

The Southern Airports Service Joint Stock Company (Sasco) which is listed under code SAS on the Unlisted Public Company Market (UPCoM), announced its second quarter’s financial report with net revenue at VND 634.5billion, an increase of 14 percent compared to last year.