GDP expands by 7.72% in second quarter, highest in 10 years

GDP expands by 7.72% in second quarter. (Photo: nld.com.vn)

The General Statistics Office (GSO) on June 29 announced socio-economic statistics for the second quarter and first six months of 2022.

In the first 6 months of 2022, GDP increased by 6.42%, higher than the growth rate of 2.04% in the first 6 months of 2020 and the growth rate of 5.74% in the first 6 months of 2021, but lower than the growth rate of 7.28% and 6.98% of the same period in 2018 and 2019.

The agriculture, forestry and fishery sector increased by 2.78% (contributing 5.07%); the industry and construction sector rose by 7.70%, (contributing 48.33%), of which, the processing and manufacturing industry was the growth engine of the whole economy with an increase of 9.66%; and the service sector increased by 6.60%, (contributing 46.60%).

According to Ms. Nguyen Thi Huong, in the context of the world's economic and political situation fluctuating unpredictably, negatively affecting the socio-economic development of most countries, the socio-economic picture Vietnam in the first 6 months of 2022 still maintained quite positive results in many fields.

“The economy achieved a growth rate of 6.42% in the first half of the year, which is quite high growth compared to other countries in the region and the world. The macro-economy was stable, inflation was controlled at a low level. Supply and demand for essential goods were ensured, goods procurement, consumption and export increased. Manufacturing and processing industry continued to play an important role in promoting economic growth during the period,” said Ms. Nguyen Thi Huong, GSO Director General.

According to the statistics agency’s report, export turnover in the 6 months was estimated at 185.94 billion USD, up 17.3% over the same period last year. Import turnover reached an estimated 185.23 billion USD, up 15.5%./.