Vietnam - Real Gross Domestic Product

For Vietnam, the production approach to gross domestic product ("GDP(O)"), with gross value added by industry (GVA), at current and constant prices. Quarterly and annual, from 1986.

Active:

• Industry classification: VSIC 2007, based on UN ISIC Rev. 4
• Measurements:
  • Billions of Vietnamese dong at constant year-2010 prices (Bil. 2010 VND)
  • At current prices (Bil. VND)
  • Percent growth year-over-year based on volume (Vol. % Y/Y)
• Cumulations:
  • Year-to-date (YTD)
  • Discrete
• Adjustment: Not seasonally adjusted (NSA)
• Native frequencies:
  • Quarterly
  • Annual
• Date ranges:
  
  • From 2012Q4 for cumulative variant
  • From 2018Q1 for discrete variant
  • From 1990 for annual real
  • From 1986 for annual nominal
• Geo coverage: National

Predecessors:

• Quarterly at 1994 prices - 2004 to 2012 ("_94")
• Annual at 1994 prices - 1990 to 2011 ("94")

The source writes:

GDP is compiled and presented using two approaches:

1. GDP by type of economic activity (production approach) at current and constant prices.
2. GDP by type of expenditure (expenditure approach) at current and constant prices.

The statistics offices in provinces and cities compile their GDP by the production approach.

The production approach includes:

• Current price estimates that are derived using a combination of administrative records (accounting reports provided by the Ministry of Finance), benchmark sample survey data and regular survey data.
• Estimates for state-owned enterprises are derived using data from accounting reports.
• For foreign investment enterprises, the data are derived from annual surveys of FDIs. conducted by the provincial statistical offices.
• Annual establishment survey of private enterprises, joint stock enterprises, and households engaged in production activities in sectors other than agriculture, forestry and fishery is conducted by the GSO.
• For mining and quarrying; electricity, gas, and water the data (for production enterprises) are derived solely from financial records of state owned enterprises.
• For household businesses, data are derived and compiled from statistical surveys applicable to household businesses, and from the survey of household businesses in sectors other than agriculture, forestry, and fishery, which is conducted on the first of October every year.
• For construction, estimates are based on financial returns of FDIs, official financial statements of state-owned enterprises, and through sample surveys of private enterprises and households.
• For other industries, estimates are based on a combination of sample surveys of private enterprises, surveys of cultivation area, productivity, and output, surveys of livestock raising, surveys of fishery production conducted annually by GSO, and from financial records provided by government agencies such as the Ministry of Planning and Investment, Ministry of Finance, and State Bank of Vietnam.

The expenditure approach includes:

• GSO estimates for all components of GDP by type of expenditure.
• Government final consumption expenditure is estimated using final and official administrative data on government expenditure available at the Ministry of Finance. Gross capital formation is estimated using data from state-owned enterprises, from reports of Ministry of Finance (gross capital formation at the administrative sector under the management of the State), FDIs and a sample survey of enterprises and households.
• Private final consumption expenditure is estimated using a combination of data: estimated retail sales turnover; production and use of agricultural products; household living standards survey.
• Data on changes in inventories are derived from administrative records of state-owned enterprises, sample survey of private enterprises and household businesses, and balancing tables of agricultural production and use.

Definitions

Special industry aggregates:

• "industry" = "mining and quarrying", "manufacturing", "electricity, gas and water supplies"
• "industry and construction" = aggregate "industry", branch "construction"

Moody's Analytics supplements

For GVA by industry at both current and constant prices, we construct seasonally adjusted counterparts.

First estimates are released on day 30 of the last month of the reference quarter. Revised estimates are released on day 30 of the last month of the next quarter.

Inconsistencies and breaks

Industry branch "community, social and personal service activities" is reported at current prices, but not constant.

During the base year change to 2010, the source revised data at current prices, causing a break at 2012Q4.

Further reading

At IMF (e-GDDS):

• National accounts (GDP) (Jul 2019)

• Jul 2006 - Initial version.
• Aug 2013 - Currency reference year advanced from 1994 to 2010.
• May 2019 - Addendum: Percent growth variant.
• Aug 2019 - Addendum: Single-period variant.
• 30 Oct 2023 - Addendum: SA supplements.