Labour productivity of the entire economy at current prices is estimated at 199.3 million VND (8,380 USD) per worker in 2023, up 274 USD than the 2022 figure (Photo: VNA)

Hanoi - Vietnam’s gross domestic product (GDP) growth rate is estimated at 5.05 per cent in 2023, the General Statistics Office (GSO) announced on December 29.

Specifically, the economy is estimated to expand 6.72 per cent year-on-year in the fourth quarter, higher than the 3.41 per cent of the first quarter, the 4.25 per cent of the second quarter, and the 5.47 per cent of the third quarter.

In the year, the agriculture, forestry and fishery sector is estimated to grow by 3.83 per cent, contributing 8.84 per cent to the economy’s total added value, while the industrial and construction sector is estimated to increase by 3.74 per cent, contributing 28.87 per cent, and the service sector by 6.82 per cent, and 62.29 per cent.

In Q4, final consumption expenditure rose by an estimated 4.86 per cent over the same period last year, contributing 53.18 per cent to the overall growth rate of the economy. The figures are 6.21 per cent and 44.18 per cent for asset accumulation. Meanwhile, the export and import of goods and services are estimated to rise by 8.68 per cent and 8.76 per cent, respectively. The trade surplus is estimated to contribute 2.64 per cent to the overall growth rate of the economy.