Vietnam GDP Q2 2024 +6.9%

According to the latest data released by the General Statistics Office, Vietnam's economy grew by 6.9 per cent in the second quarter of 2024.

On a quarterly basis, growth in the Q2 was faster than the 5.7 per cent recorded in the January-March period, while in the first half of 2024, the economy expanded by 6.4 per cent.

The agricultural sector grew by 3.3 per cent year-on-year, contributing 5.3 per cent to the economy's total growth, while the industrial and construction sector grew by 8.3 per cent, contributing 45.7 per cent, and the service sector, which accounted for 49 per cent of GDP, rose by 7 per cent.

The Vietnamese government is targeting GDP growth between 6 and 6.5 per cent for 2024 and inflation of 4 per cent.

The Association of Southeast Asian Nations (ASEAN) is a political and economic union of ten members, has 667 million people and a territory of 4.5 million Km2; is currently the third largest economy in Asia-Pacific and the fifth largest in the World. The ASEAN Economic Community (AEC) has a combined GDP of USD 4.2 trillion, according to estimates for 2024.