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H1 GDP growth pegged at 5.64 pct

H1 GDP growth pegged at 5.64 pct

Employees work at a smartphone factory in Hai Phong City, northern Vietnam. Photo by VnExpress/Tuan Hung.

Vietnam’s GDP grew at 5.64 percent in the first half of 2021, according to the General Statistics Office.

Second quarter growth was 6.61 percent, the GSO said Tuesday.

The manufacturing and construction sector grew by nearly 9 percent in the first six months, and accounted for 59 percent of the GDP.

Agriculture, aquaculture and forestry growth was 3.8 percent, and the services sector expanded at nearly 4 percent.

Manufacturing grew at 11.4 percent, but mining experienced a 6.6 percent decline due to a drop in crude oil and natural gas production.

In the services sector, transportation and restaurants were hit by the social distancing imposed in several areas to contain the Covid-19 pandemic. The transport and warehousing segment shrank by 0.39 percent, while accommodation and food services contracted by over 5 percent.

GDP growth last year was 2.91 percent last year, the lowest in a decade, but Vietnam was one of the few countries in the world to achieve positive growth.