Vietnam’s Q2 Economic Growth Quickens to 6.17%: Gov’t Data

Tuan Minh

11:02 29/06/2017

BizLIVE - The acceleration is due largely to the recovery of agricultural production.

Vietnam’s Q2 Economic Growth Quickens to 6.17%: Gov’t Data

A recovery of the agriculture sector helped lift Vietnam's GDP growth. Photo: Internet

Vietnam’s gross domestic product (GDP) likely expanded 6.17% in the second quarter of this year, accelerating significantly from a growth rate of 5.15% in the previous quarter, the General Statistics Office has said.
The acceleration has helped bring the growth to 5.73% in the first half of this year, the government-run office said in an announcement on Thursday morning.
The first-half expansion was driven by a 2.65% increase of the agriculture sector, a 5.81% rise of the industry and construction sector, and a pickup of 6.85%, five-year high, of the service sector.
In the first months of 2016, Vietnam's economy was hard hit by severe drought in the central and south regions, which hampered the agriculture. 
A breakdown in the industry and construction sector shows that the industry expanded 5.33%, much lower than 9.66% and 7.01% increases in the same period of 2015 and 2016, due to an 8.2% decline of the mining sector.
Despite a plunge of global oil prices, the Vietnamese government has repeatedly said it will strive to meet the whole-year growth target of 6.7% this year, by pumping an additional one million tons of oil and speeding up disbursement of state-sourced capital.

TUAN MINH

Từ khóa: GDP, Vietnam