The gross domestic product (GDP) and consumer price index (CPI) were lower than the National Assembly’s set norms for 2016, reported the General Statistics Office (GSO).
The news was announced on December 28 in Ha Noi at a press briefing on socio-economic performance in 2016.
DirectorGeneralof theGSO Nguyen Bich Lam reported thatGDP growthwas estimated at 6.21% against 2015, lower than the preset goal of 6.7%.
In December, CPI went up 0.23% against the previous month and saw a year-on-year growth of 2.66%. Basic inflation rate in December picked up 1.87% against last December and 1.83% against 2015.
Accordingly, GDP and CPI were lower than the preset goals.
The agro-forestry-fishery sector experienced the lowest growth pace of 1.36% since 2011. Forestry production expanded 6.11%.
The mining industry suffered from a sharp drop of 4%, the lowest ratesince 2011 due to sharp fallsof crude oil(about 1.67 tons)against last year. Coal exploitation also decreased 1.26 million tons against last year.
The industrial and construction sector also grew 7.57%, lower than the rate of 9.64% last year. The service sector expanded 6.98%.
In the context of difficult weather, complicated maritime environmentalincident, and disadvantageous global economy, the growth rates were successful thanks to timely and effective measures of the Government, said DirectorGeneralof GSO Nguyen Bich Lam./.