GDP expands 4.38% in first half

VGP – The gross domestic product (GDP) expanded at a “low level” of 4.38% in the first half of 2012, according to the General Statistics Office (GSO).

June 29, 2012 4:45 PM GMT+7

The GSO released the figure Friday at a press briefing on the socio-economic performance in the first six months.

The GDP decrease is attributed to high inflation and interest rates, shrinking production, continuous natural disasters as well as negative impacts of the global financial and prolonged euro zone debt crisis.

However, since Q2, the economy showed positive signs, especially in the area of industry and construction. The sector’s added value increased from 2.94% in Q1 to 4.52% in Q2.

GSO said agro-forestry-fishery sector accounted for 22.13% of GDP; industry and construction, 40.26% and service, 37.61%./.

By Kim Loan