VIỆT NAM POSTS STRONGEST FIRST-HALF GDP GROWTH IN OVER A DECADE

Breaking down the GDP by sectors, agro-forestry-fishery expanded by 3.84 per cent, industry and construction by 8.33 per cent, and the services sector by 8.14 per cent, contributing 5.59 per cent, 42.4 per cent, and 52.21 per cent, respectively, to the overall growth.

Assembling laptops at the factory of Heesung Electronics Vietnam Co., Ltd., at Tràng Duệ Industrial Park, the northern city of Hải Phòng. — VNA/VNS Photo Vũ Sinh

HÀ NỘI — The Vietnamese economy achieved its strongest performance in over a decade, with gross domestic product (GDP) rising by 7.52 per cent in the first half of the year, the highest since 2011, according to the Ministry of Finance’s National Statistics Office of Việt Nam (NSO).

At a press conference in Hà Nội, NSO Director Nguyễn Thị Hương highlighted that this was a positive result, reflecting the whole political system’s determination, concerted efforts, and drastic actions in managing and implementing socio-economic development tasks amidst regional and global volatility.

Breaking down the GDP by sectors, agro-forestry-fishery expanded by 3.84 per cent, industry and construction by 8.33 per cent, and the services sector by 8.14 per cent, contributing 5.59 per cent, 42.4 per cent, and 52.21 per cent, respectively, to the overall growth.

Farming activities maintained stable growth, meeting both domestic consumption and export demands. Agricultural value-added increased 3.51 per cent compared to the same period last year, while that of the forestry sector rose 7.42 per cent but with minimal impact due to its smaller share, and the fisheries sector 4.21 per cent.

The industrial and construction sector saw notable gains, with the overall industrial index rising 8.07 per cent against the same time last year. In the meantime, the processing and manufacturing industry was the motive of the economy, posting a 10.11 per cent growth.

The electricity production and distribution sector grew by 4.2 per cent, while water supply and waste management services expanded by 7.3 per cent. The construction industry delivered exceptional performance with 9.62 per cent growth, the highest rate compared to the same period from 2011 to 2025. In stark contrast, the mining sector contracted 4.25 per cent.

Several service industries showed impressive performance across the board. Wholesale and retail trade increased by 7.03 per cent, transportation and warehousing 9.82 per cent, and financial, banking, and insurance activities 6.53 per cent. The hospitality and catering sector experienced strong growth of 10.46 per cent.

Public service sectors also recorded significant expansion as part of the country's organisational restructuring, with administrative and support services activities growing by 14.58 per cent, while activities of the Party, socio-political organisations, state management, national security and defence, and mandatory social security rising by 13.09 per cent.

The economic structure in the first half saw agriculture, forestry, and fisheries accounting for 11.28 per cent of GDP, industry and construction representing 36.96 per cent, services comprising 43.40 per cent, and taxes less subsidies on products making up 8.36 per cent. — VNA/VNS

Source: VNS