Vietnamese economy grows by 5.98% in 2014

The latest data shows that growth accelerated, from 5.34% in the third quarter, to 6.96% in the October-December period, which the GSO said is a positive sign for the economy.

According to the national statistical agency, industrial production-which accounts for more than one third of gross domestic product-rose by 7.14%, contributing 2.75 percentage points to overall growth.

Meanwhile, the service sector, which makes up more than 43% of the national economy, grew by 5.96%.

In 2014, Vietnam's merchandise export revenue was estimated at US$150 billion while imports were valued at US$148 billion, helping the country gain a trade surplus of US$2 billion.

Earlier the GSO reported that average inflation in 2014 was 4.09%, significantly lower than the target of 7%.

The Vietnamese Government aims for growth of 6.2%, and an inflation rate under 5% in 2015.

(Source: Nhandan Online)