The COVID-19 epidemic, social distancing in many localities has dragged down many Vietnamese economic indicators in the third quarter. For the first time, quarterly GDP recorded negative growth, with a trade deficit of more than 2 billion USD in 9 months, the highest unemployment rate since the first quarter of 2020.

According to the General Statistics Office (GSO), the COVID-19 pandemic has seriously affected all sectors of the economy as many key economic localities have had to implement prolonged social distancing to prevent the disease. leading to a decline in economic activity.

Gross domestic product (GDP) in the third quarter of 2021 is estimated to decrease by 6.17% over the same period last year, this is the deepest decrease since Vietnam has calculated and announced quarterly GDP so far.

Two important drivers of the economy, industry and construction, and the service sector, both declined sharply in the last quarter. Industry and construction decreased by 5.02%; service sector decreased by 9.28%. Meanwhile, the agriculture, forestry and fishery sector increased by 1.04%.

Realized social investment capital at current prices in the first nine months of 2021 only increased by 0.4% over the same period last year because many localities applied social distancing measures, disrupting production and supply chains. of production, business and investment activities.

The total number of newly registered foreign investment projects as of September 20 decreased by 37.8% over the same period in 2020, but the registered capital increased by 20.6%. The average newly registered capital of 1 project in the first 9 months of 2021 will reach 10.3 million USD/project (the same period in 2020 it will reach 5.3 million USD/project).

Import and export activities in September decreased by 2% compared to the previous month. Total import and export turnover of goods in September was estimated at 53.5 billion USD, up 4.2% over the same period last year.

Generally, for the first nine months of this year, the total export and import turnover of goods still maintained a high growth rate, reaching US$483.17 billion, an increase of 24.4% over the same period last year, of which exports increased by 18, 8%; imports increased by 30.5%. Trade deficit of 2.13 billion USD in the first 9 months of the year.

Industrial production in the third quarter of 2021 faced many difficulties due to complicated epidemic developments, especially in localities with large industrial zones that had to implement prolonged social distancing. Industry added value in the third quarter of 2021 decreased by 3.5% over the same period last year.

In the first nine months of 2021, the added value of the industry increased by 4.45% over the same period in 2020.

Agricultural production for 9 months took place in relatively favorable weather conditions, and crop yield and livestock production were quite good. However, due to the complicated developments of the COVID-19 pandemic, many localities have implemented social distancing, affecting the production supply chain – processing – consuming agricultural, forestry and fishery products.

In September, many localities gradually eased social distancing from the application of Directive 16 to Directive 15, so domestic trade activities and passenger and cargo transport both increased compared to the previous month but decreased compared to the previous month. with the same period last year.

The complicated development of the COVID-19 epidemic has negatively affected the labor situation, employment in the third quarter of 2021, the labor force working in the economy decreased sharply compared to the previous quarter and compared to the same period last year. Unemployment and underemployment rates among working age increased to the highest since the first quarter of 2020.