Vietnam's H1 economic growth lowest in 10 years
Source: Vietnam News Agency (VNA) Time:2020-06-29 17:15:33
Vietnam's gross domestic product (GDP) grew 1.81 percent in the first half of this year, the lowest six-month growth rate in the 2011-2020 period, the General Statistics Office said on Monday.
Between January and June, the sector of agriculture, forestry and fishery expanded by 1.19 percent against the same period last year, while industry and construction grew 2.98 percent and services up 0.57 percent.
The three sectors respectively contributed 11.89 percent, 73.14 percent, and 14.97 percent to the overall growth, said the office.
In the second quarter alone, Vietnam's GDP grew merely 0.36 percent compared to 3.82 percent achieved in the first quarter due to social distancing measures adopted to fight the COVID-19 pandemic, the office said.
In a report released in April, the International Monetary Fund forecast Vietnam's economy would grow at 2.7 percent this year.
Last year, the country's annual GDP growth hit 7.02 percent, up from the annualized target of 6.6-6.8 percent, according to the statistics office.