Vietnam's GDP in 2024 to grow impressively at 7.09%

Báo Dân tríBáo Dân trí06/01/2025

(Dan Tri) - GDP growth in 2024 is the 4th highest in the 2011-2024 period, only lower than the growth rates of 2018, 2019 and 2022.
On the morning of January 6, the General Statistics Office announced socio-economic statistics for the fourth quarter and 2024. In the fourth quarter of 2024, the gross domestic product (GDP) is estimated to increase by 7.55% over the same period last year. This growth rate is estimated to be only lower than the fourth quarter of 2017 and 2018 in the 2011-2024 period, maintaining the trend of each quarter being higher than the previous quarter (the first quarter increased by 5.98%, the second quarter increased by 7.25%, and the third quarter increased by 7.43%). Of which, the agriculture, forestry and fishery sector increased by 2.99%, contributing 4.86% to the total value added growth of the entire economy; the industry and construction sector increased by 8.35%, contributing 44.03%; the service sector increased by 8.21%, contributing 51.11%. Regarding GDP use in the fourth quarter of 2024, final consumption increased by 7.54% over the same period last year; asset accumulation increased by 7.98%; exports of goods and services increased by 11.35%; imports of goods and services increased by 13.49%. Overall, GDP in 2024 is estimated to increase by 7.09% over the previous year, only lower than the growth rates of 2018, 2019 and 2022 in the period 2011-2024.
In the total added value growth of the whole economy, the agriculture, forestry and fishery sector increased by 3.27%, contributing 5.37%; the industry and construction sector increased by 8.24%, contributing 45.17%; the service sector increased by 7.38%, contributing 49.46%. The agriculture, forestry and fishery sector in 2024 achieved a positive growth rate of 3.27% despite being affected by natural disasters and floods. The industry and construction sector and the industry sector recovered positively and grew strongly compared to 2023. The added value of the industry in 2024 increased by 8.32% over the previous year, only lower than the increase of 8.52% in 2022 in the period 2019-2024. The processing and manufacturing industry increased by 9.83%, lower than the growth rates in 2011, 2016, 2017, and 2018 in the 2011-2024 period, contributing 2.49 percentage points. The water supply, waste and wastewater management and treatment industry increased by 9.43%, contributing 0.06 percentage points. The electricity production and distribution industry increased by 10.05%, contributing 0.37 percentage points. The mining industry decreased by 7.24%, decreasing by 0.21 percentage points. The construction industry increased by 7.87%, contributing 0.57 percentage points. Trade and tourism activities maintained high growth momentum, contributing positively to the growth of the service sector. The added value of the service sector in 2024 increased by 7.38%, higher than the growth rate of 6.91% in 2023. Regarding the economic structure in 2024, the agriculture, forestry and fishery sector accounted for 11.86%; the industry and construction sector accounted for 37.64%; the service sector accounted for 42.36%; product taxes minus product subsidies accounted for 8.14% (The corresponding structure in 2023 was 11.86%; 37.58%; 42.30%; 8.26%). Regarding GDP use in 2024, final consumption increased by 6.57% compared to 2023; asset accumulation increased by 7.20%; exports of goods and services increased by 15.45%; imports of goods and services increased by 16.10%. GDP scale at current prices in 2024 is estimated at 11.51 million billion VND, equivalent to 476.3 billion USD. GDP per capita in 2024 at current prices is estimated at 114 million VND/person, equivalent to 4,700 USD, an increase of 377 USD compared to 2023. Labor productivity of the entire economy in 2024 at current prices is estimated at 221.9 million VND/worker (equivalent to 9,182 USD/worker, an increase of 726 USD compared to 2023). At comparable prices, labor productivity increased by 5.88% due to improved qualifications of workers (the rate of trained workers with degrees and certificates in 2024 is estimated at 28.3%, 1.1 percentage points higher than in 2023).

Dantri.com.vn

Source: https://dantri.com.vn/kinh-doanh/gdp-viet-nam-nam-2024-tang-truong-an-tuong-709-20250106093943787.htm

Comment (0)

No data
No data

Same tag

Same category

Vietnamese artists and inspiration for products promoting tourism culture
The journey of marine products
Explore Lo Go - Xa Mat National Park
Quang Nam - Tam Tien fish market in the South

Same author

Heritage

Figure

Business

No videos available

News

Ministry - Branch

Local

Product