Vietnam's GDP grows 5.64 pct in H1, 3 times higher than 2020

2021-06-29 12:29

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HANOI, June 29 (Xinhua) -- Vietnam recorded a year-on-year GDP growth of 5.64 percent in the first half of this year, three times higher than the growth rate of 1.82 percent posted in the same period last year, the country's General Statistics Office announced Tuesday.

"Amid the complicated development of the COVID-19 pandemic in several localities, the result reflected great efforts of the government, businesses and the people to realize the goals of both controlling the epidemic and developing the economy," said the office.

Specifically, the sector of agriculture, forestry and fishery grew by 3.82 percent against the same period last year, while the industry and construction sector grew 8.36 percent and services up 3.96 percent.

The three sectors respectively contributed 8.17 percent, 59.05 percent and 32.78 percent to the overall growth, said the office.

In the second quarter alone, Vietnam posted a GDP growth of 6.61 percent compared to the low base of 0.39 percent recorded last year.

Vietnam's GDP grew 2.91 percent in 2020, the lowest growth reported over the past decade. A growth target of around 6 percent in 2021 was previously set by its top legislature.

In a report released in April, the International Monetary Fund projected that Vietnam's economy would grow by 6.5 percent in 2021, higher than the global average of 6 percent, before rebounding to 7.2 percent next year.
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