4:00:42 PM | 25/3/2009
Vietnam's capital city of Hanoi is estimated to have posted VND14.116 trillion (US$835.312 million) of GDP value, rising only 3.1 per cent in the first quarter, according to head of the municipal statistics department.
The GDP growth, much lower than 10.9 per cent in Q1/2008 and 11.2 per cent in Q1/2007, is attributed to shrinking industrial production value, huge inventories due to impacts of the global crisis, Cong Xuan Mui, head of the department said.
In the first quarter, its industrial production value is forecast to have soared 5.7 per cent, total retailing sales of goods and services has risen 19.3 per cent, exports up 8.4 per cent and imports down 48.1 per cent, Mui noted.
The city has attracted US$112.7 million of foreign direct investment, down 9.67 per cent on year.
Inflation of the city is reportedly to have dropped 0.07 per cent in March, state media said. (Vietnam Economic Times, News)
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