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	ADB: GDP Growth is Proof of Vietnam's Resilient Economy

Accordingly, the GDP growth in the first six months was 6.42 % year-on-year, cited Vietnamnet.

Nguyen Thi Huong, GSO Director General, shared that the economic and social conditions in the second quarter and the first half of 2024 continued a positive trend, creating growth momentum for the following quarters.

In particular, agriculture, forestry, and fisheries increased by 3.34 %, contributing 5.36 % to the overall added value of the economy. Meanwhile, industry and construction increased by 8.29 %, contributing 45.73 %, and services increased by 7.06 %, contributing 48.91 %.

In terms of total added value, agriculture, forestry, and fisheries increased by 3.38 %, contributing 5.96 %, industry and construction increased by 7.51 %, contributing 44.28 %, services increased by 6.64 %, contributing 49.76 %.

Agriculture, forestry, and fisheries increased by 3.34 %, contributing 5.36 % to the overall added value of the economy (Photo: Getty Image).

The added value of agriculture increased by 3.15 % year-on-year, contributing 0.27 percentage points to the overall added value of the economy, forestry increased by 5.34 % but accounted for a small proportion, contributing only 0.03 percentage points, fisheries increased by 3.76 %, contributing 0.09 percentage points. The added value of industry and construction in the first six months of 2024 increased by 7.54 % year-on-year, slightly lower than the 8.32 % increase in the same period of 2022 during the 2020-2024 period, contributing 2.44 percentage points to the overall added value of the economy.

Processing and manufacturing remained the economy's main drivers with a growth rate of 8.67 %, contributing 2.14 percentage points. Sectors with positive contributing percentage points are: electricity production and distribution increased by 13.26 %, contributing 0.5 percentage points, water supply, waste management, and wastewater treatment increased by 7.13 %, contributing 0.04 percentage points. On the other hand, mining decreased by 7.22 %, reducing 0.24 percentage points. Construction increased by 7.34 %, the highest growth rate compared to the same period in previous years during 2020-24, contributing 0.48 percentage points.

The statistical indicators show that the domestic macro economy remains stable, and inflation is controlled at an appropriate level. Huong stressed that the supply and demand of essential goods are considered balanced with the domestic consumption increase and exports of goods continue to achieve high growth and a strong comeback of the tourism industry. .

As GSO forecast for the remainder of 2024, the agriculture, forestry, and fisheries sectors continues to be strong supporting pillars for the economy with stable growth, ensuring domestic consumption and meeting regional and global demand. Total investment capital and foreign investment capital continued to gain.

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