Illustrative photo (Photo: VNA) Hanoi (VNA) – Vietnam’s gross domestic product(GDP) grew about 3.72% year on year in the first half of this year, accordingto the General Statistics Office (GSO).
The expansion is only higher than the 1.74% recorded inthe first half of 2020 during the 2011 - 2023 period, the GSO told a pressconference on March 29.
In particular, the agro-forestry-fishery sector expanded by 3.07%; and the industry and construction sector, 1.13%.
Notably, the services sector secured the highest growth,at 6.33%, fueled by domestic consumption stimulation and tourism promotionpolicies. It was largely contributed by wholesale and retail sales (up 8.49%),transport and logistics (up 7.18%), finance-banking services (7.18%), andlodging and catering services (up 15.14%).
In the agro-forestry-fishery sector, agriculture saw ayear-on-year increase of 3.14% in added value, forestry 3.43%, and fisheries2.77%.
GSO General Director Nguyen Thi Huong said that thegrowth that the country posted in the first half is not high but major economicbalances are ensured, the macroeconomy stable, and inflation controlled at anappropriate level in the context that Vietnam faces many difficulties andchallenges both at home and abroad.
In addition, the supply of essential goods is guaranteed, and goods procurement and domestic consumption promoted. Theagriculture, forestry, and fishery sector maintained a stable growth rate,ensuring the supply of food and essential goods.
The progress of disbursement of public investment capitalhas been improved markedly, the trade surplus maintained, and social welfare ensured, she said.
Nhập GSO on June 29 hold a press conference to announce Vietnam's socio-economic data in second quarter and first half of this year. (Photo: tuoitre.vn) Huong added that policies to stimulate domesticconsumption and promote tourism have contributed to maintaining the growth ofthe service sector. Accordingly, the added value of the service sector in thefirst six months of 2023 increased by 6.33% compared to the same period lastyear, higher than the increases of 1.18% and 4.53% in the same period in 2020and 2021, respectively.
She also said that entering the third quarter of 2023,Vietnam will continue to face many difficulties and challenges, including changes inthe world's economy and politics, energy security, food security, naturaldisasters, climate change, and diseases.
This will pose a big challenge for Vietnam to achieve the growth target [of 6.5%] for 2023, she said./.
