Despite global economic growth being expected to decline after two years of Covid-19 and the impact of the Russia - Ukraine conflict, Vietnam’s GDP growth in the second quarter of 2022 rebounded to its highest level in a decade.

Figures from the General Statistics Offices show that growth in the second quarter was estimated at 7.72 per cent year-on-year; higher than any second quarter result in the 2011-2021 period.

GDP in the first half was 6.42 per cent, higher than the 2.04 per cent posted in the first half of 2020 and the 5.74 per cent posted in the first half of 2021.

The industry and construction sector again saw the highest growth in the first half, of 7.70 per cent, and contributed the most to GDP growth, at 48.33 per cent. Second was the service sector, increasing 6.60 per cent and contributing 46.6 per cent, then agriculture, forestry, and fishery, with 2.78 per cent and 5.07 per cent.

Regarding the economic structure, the agriculture, forestry and fishery sector accounted for 11.05 per cent, industry and construction 39.30 per cent, the service sector 40.63 per cent, and product tax minus product subsidies 9.02 per cent.

Consumption rose 6.06 per cent year-on-year, accumulated assets 3.92 per cent, exports of goods and services 9.10 per cent, and imports of goods and services 4.41 per cent.