Vietnam’s gross domestic product (GDP) grew 6.42 percent in the first half of 2024, a significant increase from the 3.72-percent growth observed in the same period of 2023, as announced by the General Statistics Office on Saturday.

This shows the Vietnamese economy’s robust recovery amidst global uncertainties and risks, said Nguyen Thi Huong, director general of the General Statistics Office, during the socio-economic report for the second quarter and first half at a press conference in Hanoi on the day. 

The country’s GDP grew by 6.93 percent in the second quarter compared to the same period last year, second only to the 7.99-percent growth recorded in 2022 over the past decade. 

The 6.42-percent GDP growth in the first half of 2024 is slightly below the 6.58 percent rise observed in the same period in 2022.

In the first half, agriculture, forestry, and fishery accounted for 11.5 percent of the economic structure, industrial and construction constituted 36.44 percent, services made up 43.3 percent, and taxes less subsidies on products accounted for 8.6 percent.

The consumer price index (CPI) rose by 4.39 percent in the second quarter of 2024 and increased by 4.08 percent for the first half compared to the same period in 2023. 

The rise in CPI was driven by food and food services - which increased by four percent, housing, electricity, water, fuel, and construction materials - which rose by 5.51 percent, and education costs - which went up by 8.58 percent due to increased tuition fees in some areas, and medical services - which surged by seven percent following adjustments in accordance with a Ministry of Health circular.

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