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Vietnam's 9-month GDP growth highest in 12 years

GDP in 9 months of 2022 increased by 8.83% over the same period last year - the highest increase of 9 months in 2011-2022. Business activities gradually regained growth momentum. The Government's socio-economic recovery and development policy has been effective.

More than 163,000 businesses are newly established and returned to operate in the Vietnam market. The General Statistics Office announced the results at a press conference on September 29.

According to the Director General of the General Statistics Office - Nguyen Thi Huong, our country's economy and society in the first nine months of 2022 prospered in most fields. Production and business activities in the third quarter of 2022 grew strongly, especially compared to the same period last year (when many localities across the country had to implement prolonged social distancing to prevent epidemics, especially in the critical economic provinces in the South).

Many industries have recovered strongly and achieved higher growth than before the Covid-19 epidemic, such as the processing and manufacturing industry, total retail sales of consumer goods and services, and exports of goods.

Since then, the gross domestic product (GDP) in the third quarter of 2022 is estimated to increase by 13.67% compared to last year. GDP in 9 months of 2022 increased by 8.83% over the same period the previous year - the highest increase of 9 months in 2011-2022.

Realized social investment capital at current prices in 9 months of 2022 is estimated at 2,130.3 trillion VND, up 12.5%. This increase reflects the strong recovery of production and business activities. Foreign direct investment capital in Vietnam reached 15.4 billion USD, up 16.3%, reaching the highest level in 9 months from 2018 to the present.

As of September 20, 2022, the total means of payment increased by 2.49% compared to the end of 2021 (in the same period of 2021, it increased by 4.95%); capital mobilization from credit institutions increased by 4.04%; credit growth of the economy reached 10.54% (in the same period of 2021, it increased by 7.17%).

The gold price index in September 2022 decreased by 1.71% compared to the previous month; increased by 1.34% compared to December 2021; increased by 4.06% over the same period last year, with an average increase of 6.22% in 9 months of 2022. US dollar price index in September 2022 increased by 0.53% compared to the previous month; increased by 2.87% compared to December 2021, and by 3.45% over the same period last year; the average nine months of 2022 increased by 0.7%.

The country's labour force aged 15 and over in the third quarter of 2022 was estimated at 51.9 million people, an increase of 0.2 million people compared to the previous quarter and an increase of 2.8 million people over the same period last year. In the first nine months of 2022, the labour force aged 15 and over was 51.6 million, an increase of 1.2 million people compared to last year. The labour force participation rate in the first nine months of 2022 is estimated at 68.5%, up 0.9 percentage points over the previous year.

Vietnam's investment abroad in 9 months of 2022 has 80 projects newly granted investment certificates, with a total capital on the Vietnam side of 347.4 million USD, 2.3 times higher than last year. There were 15 projects with adjusted capital with adjusted money increased by 50.9 million USD , down 87.9%.

In general, the total investment capital of Vietnam abroad (newly and adjusted capital) reached 398.3 million USD, down 30.4% over the same period last year. With the above economic highlights, Vietnam's real estate market is still a potential market that attracts foreign investors.

Contact VIProperty immediately to seize investment opportunities at this time.

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