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HANOI: The Vietnamese economy expanded at 7.72% in the second quarter of this year, the highest rate in the same quarters in the last 10 years, according to the General Statistics Office (GSO).
The figures for the same quarters in the last three years of 2019, 2020 and 2021 were 7.1%, 0.52% and 6.73%, respectively.
In the second quarter of this year, the agriculture-forestry-fishery sector increased 3.02%, contributing 4.56% to the overall growth of the economy.
The industry and construction sector was up 8.87%, making up 46.85%, while the service sector rose by 8.56%, contributing 48.59% to the general gross domestic product (GDP) growth, GSO general-director Nguyen Thi Huong said.
Regarding GDP use, final consumption expenditure increased by 7.32% over the same period last year; accumulated assets rose by 4.57%; exports of goods and services surged 12.33%; and imports of goods and services were up 4.88%.
In the January-June period, the country’s GDP grew by 6.42%, higher than the 2.04% and 5.74% growth rates of the same periods in 2020 and 2021, respectively.
According to Huong, the country’s socio-economic development in the first six months of 2022 has prospered in most industries and fields, especially the processing and manufacturing industry; retail sales of consumer goods and services; and exports.
In terms of economic structure in the first two quarters, the agriculture-forestry-fishery sector accounted for 11.05% of the country’s economy; the industry-construction and service sectors made up 39.3% and 40.63%, respectively, the GSO said.
The Consumer Price Index (CPI) in the second quarter of 2022 posted a year-on-year rise of 2.96%.
The office said CPI in June increased by 0.69% month-on-month, up 3.18% against December 2021 and up 3.37% compared to the same period last year.
Huong attributed the increase in CPI in the second quarter to the continuous hikes in domestic petrol prices in tandem with world fuel prices, as well as the increase in the price of essential consumer goods and services in line with the price of input materials and transportation costs.
On average, in the first six months, CPI increased by 2.44% over the same period last year; core inflation rose by 1.25%. — Viet Nam News/ANN