The first 6 months of 2024: GDP reaches 6.93%, FDI increases by 13.1%

Vietnam’s economy in the first 6 months of 2024 continues to show bright spots with GDP reaching 6.93% and FDI capital increasing by 13.1% compared to the same period last year.

GDP in the First 6 Months of the Year

Economic and social statistics for the second quarter of 2024 and the first 6 months show that the economy continues its positive trend, with each quarter surpassing the previous one. Accordingly, GDP in the second quarter of 2024 grew positively, with an estimated growth rate of 6.93% compared to the same period last year, only lower than the 7.99% growth rate of the second quarter of 2022 in the 2020-2024 period.

Specifically, the agriculture, forestry, and fisheries sector grew by 3.34%, contributing 5.36% to the overall added value growth of the entire economy; the industry and construction sector grew by 8.29%, accounting for 45.73%; and the services sector grew by 7.06%, co 48.91%.

With this growth rate, GDP in the first 6 months of 2024 increased by 6.42%, only slightly lower than the 6.58% growth rate of the first 6 months of 2022 in the 2020-2024 period.

In the overall added value growth of the entire economy, the agriculture, forestry, and fisheries sector increased by 3.38%, contributing 5.96%; the industry and construction sector grew by 7.51%, contributing 44.28%; and the services sector grew by 6.64%, contributing 49.76%. It can be seen that the industry and construction sector contributed the most to the overall economic growth, indicating an increasingly clear recovery trend.

FDI in the First 6 Months of the Year

FDI in the first 6 months of the year is also a bright spot for the economy.

As of June 20, 2024, total registered foreign investment in Vietnam, including newly registered capital, adjusted registered capital, and value of capital contributions and share purchases by foreign investors, reached nearly USD 15.19 billion, up 13.1% compared to the same period last year.

Specifically, there were 1,538 newly licensed projects with registered capital reaching USD 9.54 billion, up 18.9% in terms of the number of projects and up 46.9% in terms of registered capital compared to the same period last year.

The manufacturing and processing industry received the largest amount of newly registered foreign direct investment, which reaches USD 6.83 billion, accounting for 71.6% of the total newly registered capital; real estate business activities reached USD 1.89 billion, accounting for 19.9%; and the remaining sectors reached USD 817.6 million, accounting for 8.5%.

According to the recently published data from the General Statistics Office, in the first 6 months of this year, the disbursed FDI in our country is estimated at USD 10.84 billion, up 8.2% compared to the same period last year. This is the highest disbursed foreign direct investment capital for the first 6 months of the year in the past 5 years.

Source: Redsunland

Update the latest industrial real estate news here.