Vietnam’s economy grows 5.64% in the first 6 months of 2021

However, the rate was lower than the growth of 7.05% and 6.77% of the same period in 2018 and 2019. Gross domestic product in the second quarter of 2021 was estimated to increase by 6.61% over the same period last year.

The COVID-19 epidemic broke out in a number of localities across the country from the end of April with complicated and unpredictable developments that have posed many challenges and risks for the country in realizing the dual goal of "both prevention and control" pandemics and economic development.

Regarding GDP use in the second quarter of 2021, final consumption increased by 3.18% over the same period last year; accumulated assets increased by 6.05%; exports of goods and services increased by 29.81%; imports of goods and services increased by 28.53%.

The GDP growth in the first 6 months shows the drastic direction and management of the Government, the joint effort and consensus of the political system, the business community, the people of the country and the frontline force against the epidemic to control the epidemic, carry out tasks and solutions for socio-economic development in 2021.

The agriculture, forestry and fishery sector increases by 3.82%, contributing 8.17%; the industry and construction sector increased by 8.36%, contributing 59.05%; the service sector increased by 3.96%, contributing 32.78%.

In the industry and construction sector, the industry in the first 6 months of 2021 increased by 8.91% over the same period last year, lower than the growth rate of 9.13% in the first 6 months of 2019 but higher than the growth rate of 2.91% in the first 6 months of 2020, contributing 3.01 percentage points to the growth rate of total added value of the whole economy.

The processing and manufacturing industry is the growth engine of the whole economy with a growth rate of 11.42%, lower than the growth rate of the same period in 2011 and 2018 in the period 2011-2021, contributing 2.9 percentage points.

* Correct Jan.-June GDP growth in headline and lead to 5.64%. We apology for the mistake.