Vietnam's economy grows 7.08 percent in 1st half of 2018

Vietnam is estimated to gain gross domestic product (GDP) growth of 7.08 percent in the first half of this year, the highest first-half growth rate since 2011, the country's General Statistics Office said on Friday.

Regarding economic structure in the six-month period, agriculture, forestry and fishery accounted for 14.15 percent of the GDP, industry and construction 33.78 percent, service 41.82 percent, and product taxes excluding subsidies 10.25 percent.

The agriculture, forestry and fishery grew 3.93 percent, contributing 9.7 percent to the whole economy's growth; industry and construction grew 9.07 percent, contributing 48.9 percent; and service grew 6.9 percent, contributing 41.4 percent.

Vietnam is taking synchronous measures to gain GDP growth of over 6.7 percent this year, according to a government report recently presented before the country's top legislature. The top legislature targeted GDP growth of 6.5-6.7 percent in 2018, compared with 6.81 percent in 2017.

Vietnam's economic prospects improve further, with GDP projected to expand by 6.8 percent in 2018, the World Bank in June stated in its latest economic update for the country.

APP