On December 27th, the General Statistics Office (GSO) officially announced the indicators of the Vietnam’s economy in 2017. VietnamCredit has compiled and analysed 8 key indicators to tell a story of what happened to the country’s economy in 2017.
1. GDP Growth RateAs announced by the General Statistic Office (GSO), Vietnam GDP growth rate in 2017 is estimated to expand 6.81 surpassing the 6.7 percent target. Our GDP grew 5.15 percent in Q1, 6.28 percent in Q2, 7.46 percent in Q3 and 7.65 percent in Q4. The country recorded a growth rate of 2.9 percent in agriculture – forestry – fishery sector, 8 percent in industry and construction, and 7.44 percent in services.
2. Consumer Price Index (CPI)Vietnam’s CPI in 2017 increase 3.53 percent which fails the target of the Asembly.
CPI in December 2017 expanded 2.6% compared with December 2016; average monthly increase is of 0.21%. The increase of CPI in 2017 is due to the adjustment of prices of health services, increase of tuition fees, increase of minimum wage ...
3. FDIIn 2017, Vietnam received USD35.88 billion in FDI, 42.3 percent higher than that in 2016. Implemented FDI is estimated at USD17.5 billion, up 10.8% over the same period last year. Namely, 2,591 new projects have been granted investment certificates.
FDI investors in Vietnam in 2017 are from 115 nations and territories, of which Japan ranks first with total investment of USD9.11 billion, accounting for 25.4% of total investment. The second place is Korea with a total registered capital of 8.49 billion US dollars, accounting for 23.7%; Singapore ranked third with a total registered capital of $ 5.3 billion, accounting for 14.8%.
4. InflationThe average inflation rate in 2017 is 1.41% higher than that in 2016 due to the increase of CPI.
5. M&A2017 has witnessed an estimated number of 477 M&A deals, including the most prominent deal ever, which is the acquisition of 343.66 million shares (equivalent to 53.59% of charter capital) of Sabeco.
Total value of M & A in 2017 reached $ 6.5 billion
6. Index for Industrial Production (IIP)Vietnam IIP 2017 reached 109.4 percent.
According to the use of products, intermediate products in 2017 increased by 11% over the previous year; final products increased by 8.6% (of which the material products increased by 7.3%, consumer products increased by 9.2%).
7. Import-Export turnoverVietnam’s import-export turnover in 2017 reached USD424.87 billion, in which export turnover is USD213.77 billion and that of import is USD211.1 billion (both increase more than 20 percent over the last year).
As of export turnover, domestic economic sector reached USD58.53 billion whereas foreign invested sector reached 155.24 billion USD. In general, the increase of 21.1% in export turnover in 2017 is the highest increase in many years.
8. Global Competitiveness Index (GCI)According to the 2017 - 2018 Global Competitiveness Report released at the World Economic Forum, Vietnam ranked 55th out of 137 countries, 5 places higher than 2016 and 20 places higher than 2012. Technological innovation, labor market efficiency as well as the development of trade are the main factors contributing to the promotion of Vietnam in this list.
Learn more: Vietnam's Macroeconomic Report 2017 (Comprehensive)