National economy beats growth target, six-month GDP at 6.42%

The second-quarter growth is even 0.1% higher than the target the Ministry of Planning and Investment has set in its updated scenario.

In April, the Ministry of Planning and Investment developed a scenario for the economy for the whole year. Accordingly, to secure the 6.5% growth in 2024, the national economy would grow by 6.32% in quarter II, 6.79% in quarter III and 7.08% in quarter IV.

The quarter II figure shows the recovery trend of the national economy on the quarterly basis, creating growth momentum for the next quarters, said Nguyen Thi Huong, head of the General Statistics Office.

Huong attributed the results to efforts by the Government, ministries, agencies and localities in synchronously and effectively putting many solutions in place, aiming to create a breakthrough driving force for socio-economic development.

Among the major industries, the services industry increased by 6.64%, contributing 49.76% to the national growth. Similarly, the industrial and construction industry grew by 7.51%, contributing 44.28%, while the agro-forestry-fishery industry expanded by 3.38%, contributing 5.96%.