Topic: GSO

Over 30,500 firms participating in the survey by the General Statistics Office.

Fueled by robust growth in manufacturing and tourism, Vietnam's GDP outpaces previous years.

GSO points to increasing demand for essential goods for healthy year-on-year rise.

Businesses still have faith in Vietnam’s ability to recover from the current woes.

A survey conducted by the General Statistics Office (GSO) shows that many enterprises believe that production and business as well as orders will increase by the end of the year, even if global inflation increases. Notably, the non-State sector was the most optimistic, with 83.6 per cent of respondents anticipating better production and business conditions in the fourth quarter. The rate among foreign enterprises was 80.9 per cent.

Ms. Nguyen Thu Oanh, Director of the Department of Price Statistics at the General Statistics Office, said that despite pressure and difficulties in the global context, Vietnam’s CPI was under control in the first eight months of the year, at 2.58 per cent, which eases pressure on input costs. Underlying impacts, however, remain.

Vietnam’s tourism sector witnessed a clear recovery in the first eight months of 2022 though more is needed to return to pre-pandemic levels.

The CPI in August increased just 0.005 per cent over July, 3.6 per cent compared to December 2021, and 2.89 per cent year-on-year. According to the General Statistics Office, increases are due to rising prices for essential consumer goods and services. Domestic gasoline prices have, however, been cut since July.