Infographic Price Index in 2020
Average CPI of 2020 increased by 3.23% compared to 2019, met the target below 4% set by the National Assembly
Average CPI of 2020 increased by 3.23% compared to 2019, met the target below 4% set by the National Assembly
Gross domestic product (GDP) in 2020 was estimated to increase by 2.91% over the last year, although being the lowest increase of the period 2011-2020, but in the context of the Covid-19 pandemic, negatively affecting all socio-economic fields, this is a great success for Vietnam with the growth rate in 2020 among the highest in the world.
In 2020, gross retail sales of consumer goods and services reached 5,059.8 trillion VND, rising by 2.6% over the previous year, if excluding the price factor, the decrease was 1.2% (in 2019 increased by 9.5%).
GSO hold a press conference to announce the report on labour and employment of the fourth quarter and in 2020. Mr. Pham Quang Vinh - Deputy Director General of GSO chaired the press conference.
Generally, the price’s level of this year increased quite high compared to the same period last year, affecting the price management and administration in 2020, leading to inflation control following the target below 4% set by the National Assembly facing many difficulties and challenges.
2020-The year of significant importance, the last year of the five-year socio-economic development plan 2016-2020 implementation. The results of production and business activities in 2020 are the basis and motivation for the formulation and implementation of the socio-economic development plan in 2021-the first year of the socio-economic development plan 5 years 2021-2025.
GDP in 2020 will increase by 2.91%, although it is the lowest growth rate of the years in the period 2011-2020, but in the context of a complicated Covid-19 epidemic, negatively affecting all socio-economic fields. This is a great success for Vietnam with the highest growth rate in the world in 2020.
COVID-19 pandemic breakout has been widespread across the world, exerting severe impacts on global economy in 2020. The world’s economic growth is predicted at -4.2 percent in 2020 by OECD, an increase of 0.3 percent compared to the earlier forecast back in September.
The Textile, Garment and Footwear industries are two of the industries heavily affected by the Covid-19 pandemic. The interrupted supply chain of input materials, the import markets had to close due to the implementation of social lockdown to prevent a pandemic, the decrease in demand for products were the difficulties that the industry faced this year. However, in the last months of the year, the sector's growth got a boost when the pandemic was well controlled in Vietnam.
Infographic Socio-economic situation in December and 2020.