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Strong growth of Vietnam in the first half of 2018

Manufacturing, construction and service sectors were the main engines of Vietnam’s development

According to the Vietnam General Statistics Office (GSO) data, the country’s economy has increased by 7.08% in the first half of 2018 (H1). This result is significantly higher than the H1 growths of the past 7 years.

Vietnam’s H1 GDP growth since 2011

2011: 5.57%
2012: 4.38%
2013: 4.9%
2014: 5.18%
2015: 6.28%
2016: 5.52%
2017: 5.73%
2018: 7.08%
 

Manufacturing & construction and service industries were the main sources of the strong GDP growth, contributing 48.9% and 41.4% to the overall growth rate, respectively. The manufacturing sector saw a sharp increase in H1 2018, with 13.2% growth.

Vietnam’s H1 growth of processing-manufacturing sector since 2012

2012: 3.6%
2013: 5.5%
2014: 7.4%
2015: 11%
2016: 10.5%
2017: 10.5%
2018: 13%

With positive results during the H1 2018, the World Bank has increased its forecast of Vietnam’s GDP growth, from 6.5% to 6.8%. The Asian Development Bank was even more optimistic, expecting Vietnam to grow at around 7.1%.

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