Processing and manufacturing remains the pillar of GDP growth, posting a growth of 11.18 percent. (Photo: VNA)Hanoi (VNA) – Vietnam’s gross domestic product (GDP) expanded 6.76percent, fueled by stable macro-economy, impressive rice exports, declining unemploymentrate, and robust economic production, Director General of the GeneralStatistics Office (GSO) Nguyen Bich Lam said at a press conference on June 28.
The agro-forestry-fishery sector expanded 2.39 percent, contributing 6 percentof the GDP growth. Expanding 8.93 percent, and 6.69 percent, the industrial andconstruction sector, and service industry contributed 51.8 percent, and 42.2percent, respectively, of the growth.
Lam said that the agro-forestry-fishery sector is facing formidable challengesas prolonged heat wave would decrease productivity while African swine feveroutbreaks have threatened the livestock sector’s health.
Processing and manufacturing remains the pillar of GDP growth, posting a growthof 11.18 percent, lower than the same time last year but much higher than H1 of2012-2017.
Meanwhile, the service industry was backedby rosy wholesale and retail sales, financial activities, banking andinsurance, transportation and warehouse.
The Vietnamese economy has shown positive signs, with business confidenceremaining high among domestic and foreign investors in the period.
According to Nikkei report, the Vietnam Manufacturing Purchasing Managers’Index (PMI) stood at 52 points, which is higher than regional countries.Producers believed that customer demand improved, and there were rises in neworders both from domestic and overseas clients.
A survey conducted by the GSO in Q2 showed that most of the businesses had goodbusiness results, and felt upbeat about the situation in Q3.-VNA
VNA
