Vietnam’s economy records decade-low H1 growth

Vietnam’s gross domestic product increased 1.81 percent during the first six months of 2020, the lowest first-half growth pace since 2011, according to the General Statistics Office.

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In the second quarter alone, the GDP rose by just 0.36 percent year on year, which was also the smallest expansion in Q2 during the 2011 – 2020 period.

The General Statistics Office said this was attributed to the fact that the economy was hit hardest by the COVID-19 pandemic in Q2, when the Government ramped up social distancing measures.

GSO Deputy General Director Nguyen Thi Huong said facing complex developments of COVID-19 that have negatively affected all socio-economic aspects, the whole political system, the Government and the Prime Minister have given the top priority to the pandemic fight and showed the determination to protect people’s health and lives, even at the expense of economic benefits.

Between April and June The agro-forestry-fisheries sector grew 1.72 percent, industry – construction rose 1.38 percent, while the services sector contracted 1.76 percent./.

VNA