News Room - Business/Economics

Posted on 25 Mar 2009

Hanoi reports three-year low GDP growth rate in Q1

Hanoi's GDP hit 14.11 trillion VND (US$804 million) in the first quarter of this year, a 3.1 per cent year-on-year increase, the lowest rate in three years compared to 11.2 per cent and 10.9 per cent in 2007 and 2008, respectively, the Hanoi Statistics Office reported.

 

Head of the Hanoi Statistics Office Cong Xuan Mui attributed the low first quarter result to impacts of the global economic crisis. D

 

uring the period, the city's industrial production value rose by only 5.7 per cent, while total revenues of commodities and services rose by 19.3 per cent, and export revenues by 8.4 per cent; import value fell by 48.1 per cent.