Vietnam’s gross domestic product (GDP) is estimated to reach VND426.55 trillion (US$26.83 billion) in the first half this year, representing a growth of 7.4 per cent against the same period last year, reported the government's General Statistics Office (GSO).
The growth rate in the reviewed period is quite high; however, it is still less than the average rate set for the whole year at 8 per cent.
In the first six months, the industrial and construction sector recorded the highest growth among three main sectors. It posted a growth of as high as 9.3 per cent, estimated at VND172.87 trillion (US$10.9 billion), accounting for 40.53 per cent of the GDP.
The service sector saw a production value increase of 7.7 per cent, totaling VND165.34 trillion (US$10.4 billion), contributing to 38.76 per cent of the GDP.
The agro-forestry-fishery sector expanded by 3 per cent in the period, reaching VND88.34 trillion ($5.6 billion), making up 20.71 per cent of the country’s total production values.
Among the sub-sectors, the power-gas-water supply industry registered the highest growth at 12 per cent on-year, followed by the processing industry at 11.8 per cent and the hotel-restaurant at 11 per cent. The mining industry saw the slowest growth at 0.7 per cent.
In January-June, the country obtained the export growth of 25.7 per cent to $18.7 billion from a year earlier, while the import growth was lower at 14.1 per cent to $20.7 billion.
The state budget revenues increased by 14.6 per cent on year while spending rose 18.5 per cent.
Vietnam targets economic growth of 8 per cent in 2006, lower than that of 8.4 per cent last year, in 2005, Vietnam ranked second only after China among fastest growing economies in Asia.
(GSO June 2006)
Vietnamese
