Vietnam’s GDP Growth Reaches 6.42% in First Half of 2024
Vietnam’s economy grew by 6.42% in the first six months of 2024, slightly lower than the 6.58% growth recorded in the same period in 2022, according to the General Statistics Office (GSO), which announced the figures at a press conference in Hanoi on June 29.
The sectors of agro-forestry-fishery, industry-construction, and services contributed to the economy’s total value added growth by 3.38%, 7.51%, and 6.64%, respectively. These sectors accounted for 5.96%, 44.28%, and 49.76% of the total growth. Within the service sector, exports surged, aligning with the global recovery in consumer demand, which positively impacted the country’s economic growth.
Regarding the economic structure in the first half of the year, agro-forestry-fishery accounted for 11.55%, while industry-construction and services made up 36.44% and 43.35%, respectively. In terms of GDP usage, 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. Additionally, the export and import of goods and services increased by 16.89% and 16.95%, respectively, with the trade balance contributing 0.59%.
In the second quarter, Vietnam’s economic growth reached 6.93%, slightly lower than the 7.99% growth in the second quarter of 2022.
Speaking at the event, GSO General Director Nguyen Thi Huong highlighted the positive results of Vietnam’s socio-economic situation in the second quarter despite global economic uncertainties. The government’s management policies, led by the Prime Minister and various ministries and localities, have gradually proven effective. These policies have ensured the smooth operation of supply chains, stabilized the foreign exchange market, promoted public investment disbursement, and implemented credit packages to support various sectors.
