Vietnam’s GDP growth reaches 6.42% in first half

Vietnam's economy grew by 6.42% in the first six months of 2024, slightly lower than the figure of 6.58% in the same time of 2022 within the 2020-2024 period, the General Statistics Office (GSO) announced at a press conference in Hanoi on June 29.

Of the economy’s total value added growth, the sectors of agro-forestry-fishery, industry-construction, and services grew by 3.38%, 7.51%, and 6.64%, contributing 5.96%, 44.28% and 49.76%, respectively. The GSO also highlighted that within the service sector, exports surged, aligning with the global recovery in consumer demand, positively affecting the country's economic growth.

Regarding the economic structure in the first half, the agro-forestry-fishery accounted for 11.55%, while the industry-construction and service areas made up 36.44% and 43.35%.

In terms of GDP usage in the period, final consumption and asset accumulation rose by 5.78% and 6.72% year-on-year, contributing 64.26% and 35.15% to the overall economic growth. The export and import of goods and services were up by 16.89% and 16.95%, with the trade balance contributing 0.59%.

For the second quarter, the country's economic growth reached 6.93%, just lower than the rate of 7.99% in the second quarter of 2022 in the 2020-2024 period.

Speaking at the event, GSO General Director Nguyen Thi Huong said Vietnam's socio-economic situation in the second quarter achieved positive results amid global economic uncertainties.

The Government’s management policies, led by the Prime Minister and various ministries and localities, have gradually proven effective, ensuring the smooth operation of supply chains and distribution of goods and services, reducing lending interest rates, stabilising the foreign exchange market, promoting public investment disbursement, and implementing credit packages to support various sectors./.