According to data just released by the General Statistics Office, the gross domestic product (GDP) in the second quarter of 2024 grew positively, with an estimated growth rate of 6.93% over the same period last year, only lower than the growth rate of 7.99% in the second quarter of 2022 in the period 2020-2024.

Of which, the agriculture, forestry and fishery sector increased by 3.34%, contributing 5.36% to the total added value of the whole economy ; the industry and construction sector increased by 8.29%, contributing 45.73%; the service sector increased by 7.06%, contributing 48.91%.

GDP in the first 6 months of 2024 increased by 6.42%, just lower than the growth rate of 6.58% in the first 6 months of 2022 in the 2020-2024 period.

In the total added value growth of the entire economy, the agriculture, forestry and fishery sector increased by 3.38%, contributing 5.96%; the industry and construction sector increased by 7.51%, contributing 44.28%; the service sector increased by 6.64%, contributing 49.76%.

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GDP in the first 6 months of 2024 increased by 6.42%. Photo: Hoang Ha

In the agriculture, forestry and fishery sector, the agricultural sector maintained stable growth, the output of some major perennial crops increased compared to the same period last year, and aquaculture increased quite well.

Specifically, the added value of the agricultural sector in the first 6 months of 2024 increased by 3.15% over the same period last year, contributing 0.27 percentage points to the total added value growth of the entire economy; the forestry sector increased by 5.34% but accounted for a low proportion, so it only contributed 0.03 percentage points; the fishery sector increased by 3.76%, contributing 0.09 percentage points.

In the industrial and construction sector, the industry maintained its growth momentum, with some key industrial products increasing quite well, meeting the demand for new orders from businesses. The added value of the entire industry in the first 6 months of 2024 increased by 7.54% over the same period last year, only lower than the 8.32% increase in the same period in 2022 in the 2020-2024 period, contributing 2.44 percentage points to the growth rate of the total added value of the entire economy.

The processing and manufacturing industry was the growth driver of the entire economy with a growth rate of 8.67%, contributing 2.14 percentage points; the electricity production and distribution industry increased by 13.26%, contributing 0.5 percentage points; the water supply, waste and wastewater management and treatment industry increased by 7.13%, contributing 0.04 percentage points; the mining industry alone decreased by 7.22%, decreasing by 0.24 percentage points.

Notably, the construction industry increased by 7.34%. This is the highest increase compared to the same period in the 2020-2024 period, contributing 0.48 percentage points.

In the service sector , exports increased sharply following the trend of recovering global consumer demand, contributing positively to economic growth. The added value of the service sector in the first 6 months of 2024 increased by 6.64% over the same period last year, higher than the increase of 1.18% and 5.06% in the same period in 2020 and 2021.

GDP in the first quarter increased by 5.66%, the highest in the past 4 years. Gross domestic product (GDP) in the first quarter of 2024 is estimated to increase by 5.66% over the same period last year, higher than the growth rate of the first quarter of the years 2020-2023, according to the announcement of the General Statistics Office.