Based on the statistics provided by the General Statistics Office, CEEC brings you an interesting infographic in July, illustrating the socio-economic performance in the 6 months of 2021.
Vietnam’s GDP growth rate from January to June 2021 is reported to be 5.64 percent, which is significantly higher than the rate of 2020 (1.82 percent). Yet, compared to years before (from 2017 to 2019), 5.64 percent should not be considered a great number.
To explain the reduction in GDP growth rate, the sudden waves of Covid-19 must be taken into consideration. The pandemic had negatively affected economic growth, especially when it first came into Vietnam in early 2020. This led to the fact that the GDP rate of 2020 fell down to 1.82 percent, which was around 5 times lower than the rate of 2019. However, it seems like Vietnam had been well-adapted to the pandemic situation. The Government had strategic plans to stabilize the economy while strictly controlling the widespread of Covid-19 in the country. 5.64 percent might not be an impressive number, but it is a good sign of economic recovery.
GDP structure in 6 months of 2021 is divided into four major categories: Services, Industry and construction, Agriculture, forestry and fishing, and Product taxes subsidises on products. Services occupies 41.13 percent in total, marking its first place out of other categories. Following that, Industry and construction constitutes 37.61 percent. Agriculture, forestry and fishing accounts for 12.15 percent, and the rest belongs to Product taxes subsidises on products (more than 9 percent).