GDP in the second quarter increased by 6.17% - sign of economic prosperity

	GDP: The problems of sustainable growth
	6.7% GDP growth is under the control of the Government
	2018: Striving to mobilize capital for State budget of 21% of GDP

According to a representative of GSO, there are many chances and advantages to reach the goal of economic growth. Photo: Internet

According to the GSO, GDP growth of 6.17% in the second quarter which higher than the first quarter (5.15%) has shown the economic prosperity. The Agriculture, Forestry and Fishery sector reached the highest increase of 5.08% compared to the same period of 2016, contributing 0.15 percentage point to the general growth; Industry and Construction sector up 5.81%, contributing 2%, Service sector up 6.85%, contributing 2.59%.

In the Industry sector increased by 5.33%, lower than the 9.66% and 7.01% compared to the same period of 2015 and 2016, mainly due to the Mining industry decreased 8.2%, down 0.61 percentage points.

The Service sector increased by 6.85%, contributing 2.59 percentage point to the general growth. Some sectors contributed large proportion to the general growth such as retail and wholesale sector with an increase of 7.1% compared to the same period of last year - the largest contribution; the Real estate business with an increase of 3.86% - the highest increase in recent five years.

According to the assessment, the gap between GDP growth in the first quarter and GDP in the second quarter widened to 1% as a breakthrough thanks to the efforts in running the economy and improving the business environment of the Government. Normally, GDP growth in the second quarter will be 0.3-0.4% higher than the first quarter.

In order to reach the goal 6.7% of GDP growth, in the last 6 months of the year, GDP has to increase by 7.4%. Mr. Ha Quang Tuyen, Director of the National Accounts Department of GSO, we have never achieved the such high increase in last months of a year, so it is very difficult to reach this result. However, M.r Tuyen also said that we still have many opportunities and advantages to strive for the economic growth goal.

Low worker productivity weakens GDP growth in Vietnam During the past three decades, the Vietnam economy has benefited from a transition away from agriculture toward ...

Mr. Tuyen pointed out sources for economic growth in the last 6 months, especially source from enterprise sector. Accordingly, newly established businesses in the first six months of 2017 were 61,000 businesses, re-operated businesses were 15,000 businesses. This is the great source to promote the economic growth. Besides, the social investment capital in the last six months is still large with over 60% of investment capital which was not used.

The Manufacturing and processing sector also has many opportunities to develop from now until the end of the year. According to the report of the Ministry of Industry and Trade, some large steel projects will come into operation. The sectors of Cigarette, Pharmaceutical, and Engine Production have sources for development in the last 6 months of the year. In addition, the Construction sector is expected to grow by more than 10%, which will also contribute to general growth.