GDP grows by 3.72% in first half

By Dat Nguyen   June 28, 2023 | 08:47 pm PT
Vietnam’s GDP grew by 3.72% in the first half, but its 4.14% growth in the second quarter was the lowest in 13 years barring the Covid-19 period.

Industry and construction, one of the three main pillars of the economy, grew by just 0.44%.

Services grew by 6.33% and contributed nearly 79% of GDP thanks to policies issued to promote tourism and boost demand for consumer goods.

Agriculture, forestry and fishery output grew by 3%.

Foreign trade was down 15.2% year-on-year to $316.65 billion in the first half, with exports falling by 12.1% and imports by 18.2%.

There was a trade surplus of $12.25 billion.

The consumer price index rose by 3.29% year-on-year as food and electricity prices increased.

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