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 in the same period of 2022. 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 to the total value added growth. Within the service sector, exports surged, aligning with the global recovery in consumer demand, positively affecting the country's economic growth. In terms of economic structure, the agro-forestry-fishery sector accounted for 11.55%, while industry-construction and services made up 36.44% and 43.35% respectively.

Regarding GDP usage, final consumption and asset accumulation rose by 5.78% and 6.72% year-on-year, contributing 64.26% and 35.15% to overall economic growth. The export and import of goods and services increased by 16.89% and 16.95%, 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 same quarter of 2022. Despite global economic uncertainties, Vietnam achieved positive socio-economic results in the second quarter.