Vietnamese economy projected to grow at 6.42% in H1 2022

05 Jul '22

2 min read

Pic: Shutterstock

Vietnam’s economy is projected to grow at 6.42 per cent in the first half (H1) this year—higher than earlier expectations, participants in a recent video conference organised by the government were told. Representatives from ministries, various sectors and localities stressed the need to strive for a gross domestic product (GDP) growth rate of 7 per cent for the whole year.

The country’s National Assembly has set a target of 6-6.5 per cent GDP growth.

The country’s macro economy continues to be stable, inflation is under control and major balances were ensured during H1 2022, in which the average consumer price index (CPI) increased by 2.44 per cent, relatively lower than the figure during the same period in pre-pandemic years, according to a report by the ministry of planning and investment.

Import and export turnover increased by 16.4 per cent year on year, of which exports rose by 17.3 per cent and imports by 15.5 per cent during the period. Disbursed foreign direct investment grew by 8.9 per cent, a news agency reported.

The added value of industrial production in the second quarter this year was up by 9.87 per cent year on year. The number of newly-established enterprises and those returning to the labour market also rose by 25.4 per cent year on year.

Fibre2Fashion News Desk (DS)

More Textiles News - Vietnam...