Vietnam's economy expanded 1.81 percent in the first half of 2020 (Photo: VNA)Hanoi (VNA) – Vietnam’s gross domestic product (GDP)increased 1.81 percent during the first six months of 2020, the lowestfirst-half growth pace since 2011, according to the General Statistics Office(GSO).
At a press conference on June 29, the officereported that in the second quarter alone, the GDP rose by just 0.36 percentyear on year, which was also the smallest expansion in Q2 during the 2011 –2020 period.
This was attributed to the fact that the economywas hit hardest by the COVID-19 pandemic in Q2, when the Government ramped upsocial distancing measures, the GSO noted, adding that theagro-forestry-fisheries sector grew 1.72 percent, industry – construction rose1.38 percent, while the services sector contracted 1.76 percent between Apriland June.
During the six months, theagro-forestry-fisheries sector recorded a growth rate of 1.19 percent andcontributed 11.89 percent to the overall economic growth. The respective figuresfor industry – construction are 2.98 percent and 73.14 percent, and theservices sector 0.57 percent and 14.97 percent.
GSO Deputy General Director Nguyen Thi Huongsaid facing complex developments of COVID-19 that have negatively affected allsocio-economic aspects, the whole political system, the Government and thePrime Minister have given the top priority to the pandemic fight and showed thedetermination to protect people’s health and lives, even at the expense ofeconomic benefits.
This is the solid foundation for the Vietnameseeconomy to sustain growth and avoid contraction, she said, adding that the datashow all-level authorities, enterprises and people’s success in concurrentlycombating the coronavirus, maintaining production and business activities, andgradually bringing the economy to the pre-pandemic status./.
VNA
