Statistics office partners with IMF to re-evaluate economic scale
Statistics office partners with IMF to re-evaluate Vietnam’s economic scale
The General Statistics Office (GSO) and the International Monetary Fund (IMF) are working together toreview the methods to evaluate the Gross Domestic Product (GDP) scale of Vietnam.
Hanoi (VNA) – The General Statistics Office (GSO)and the International Monetary Fund (IMF) are working together toreview themethods to evaluate the GrossDomestic Product (GDP) scale of Vietnam.
The partnership, lasting from April 8-12, aims to properly assessthe transformation of the country’s economy in 2018.
The GSO has conducted the re-evaluation of the GDP scalebasing on data from economic census as well as the rural, agricultural andfishery survey in 2016.
Under the Government’s request, the agency has chosen the IMF,a prestigious independent organisation, to partner in reviewing its method ofassessment.
The outcomes of the evaluation will serve as importantreferences for the Government to design a socio-economic development plan for2021-2025 and the next decade.
According to theGSO, Vietnam’s GDP grew by 7.08 percent in 2018, the highest rate in the past11 years.
The agro-forestry-fisherysector expanded 3.76 percent and made up 8.7 percent of the overallgrowth.
The industry-construction sector recorded an8.85 percent increase and made up 48.6 percent of the GDP growth, while thefigures for the services sector were 7.03 percent and 42.7 percent,respectively.-VNA
A report by the prestigious global accounting firm of PricewaterhouseCooper (PWC) predicts continued economic growth for Vietnam until 2050 period, with annual GDP increase of 5.1 percent, on average.
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Illustrative image (Source: VNA) 
