Vietnam’s gross domestic product (GDP) in the first half of this year is projected to expand 5.73% year-on-year
According to the General Statistics Office, GDP could rise 6.17% in the second quarter from a year before while the first quarter saw the economy growing 5.15%, instead of the earlier announced 5.1%.
The first-half GDP expansion is driven by a 2.65% pickup in agriculture, forestry and fishery, a 5.81% rise in industry and construction, and a 6.85% improvement in services. They have contributed 0.43, 2.0, and 2.59 percentage points to the overall economic growth rate respectively.
According to the GSO, as of June 20, total money supply had edged up around 5.7% compared to end-2016, down from 8.07% in the same period last year. The total amount raised by banks had leapt nearly 6%, down from 8.23% in the year-earlier period.
January-June loan growth is 7.54%, the highest level in six years. This shows a significantly high rate of capital absorption among enterprises.
Export revenues in the six-month period are expected to soar 18.9% to US$97.8 billion, with the domestic sector accounting for US$27 billion (up 13.8%) and the foreign direct investment (FDI) sector making up US$70.8 billion (up 21%), inclusive of crude oil.
Meanwhile, the import bill is likely to amount to US$100.5 billion, up 24.1% year-on-year. Of which, US$39.9 billion comes from the domestic sector, up 18.2%, and US$60.6 billion from the FDI sector, up 28.3%.
(Source: thesaigontimes.vn)
