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Viet nam : Demand-side contributions to growth
GDP growth ebbed to 5.0% in 2012 (Figure 3.31.1), the slowest in 13 years, as fiscal and monetary tightening in 2011 continued to have an impact into last year. While the policies took a toll on growt... h, they achieved sharp reductions in inflation and a more stable exchange rate, and they contributed to a record current account surplus and to rebuilding foreign reserves. All sectors—agriculture, industry, and services—recorded slower growth in 2012 than in 2011. Manufacturing decelerated to 4.5%, reflecting weak domestic demand, high inventories, and reduced bank lending. Construction grew by a modest 2.1% after contracting in 2011 when the government squeezed credit and cut public investment. Services expanded by 6.4% to make the biggest sector contribution to GDP growth last year. Tourism-related services benefited from 9.5% growth in visitor arrivals, though this was a slowdown from 2011. Agriculture grew by just 2.7%.Source: General Statistics Office of Viet Nam
Rank: 3932 of 4890 in Economy
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