Vietnam: GDP growth remains strong in the first half of the year
June 28, 2013
REAL SECTOR | GDP growth remains strong in the first half of the year
According to data released by the General Statistics Office of Vietnam (GSO), GDP expanded 4.9% in the first half of 2012, unchanged from the expansion recorded in the same period last year.
At the sector level, services experienced a slight acceleration, expanding 5.9% over the same period last year (Jan-Jun 2012: +5.3% year-on-year). On the other hand, industry and construction slowed from a 5.6% expansion in the first half of 2012 to a 5.2% rise in first six months of 2013. Finally, agriculture rose 2.1%, down from the 2.9% increase recorded in the January-June period of 2012.
The government targets growth at 5.5% for this year. For next year, the government recently announced a target of 6.0% growth. FocusEconomics Consensus Forecast participants see the economy growing 5.4%, which is down 0.1 percentage points from last month's forecast. For 2014, panellists project the economy will expand 5.9%.