Vietnam's economy grows 8.39% in Q2, first-half expansion tops 8%

The strong performance was driven mainly by industry and construction, which grew 10.51% in the second quarter and accounted for just over half of overall GDP growth. The services sector expanded 7.87%, while agriculture, forestry and fisheries posted growth of 4.06%.

During the first six months of the year, industry and construction grew 9.81%, contributing 47.2% to overall economic growth, while services expanded 8.09%, accounting for 47.14%. Agriculture, forestry and fisheries increased 3.87%, contributing the remaining 5.66%.

Manufacturing was the economy's main growth engine, with manufacturing and processing rising 10.23% and contributing 33.07% to overall GDP growth.

Industrial output maintained solid momentum, supported by strengthening growth drivers, a recovery in export orders and the spillover effects of public investment. Value added in the industrial sector rose 9.86% year on year in the first six months of 2026, generating 40.35% of the economy's overall value-added growth.

The agriculture, forestry and fisheries sector also recorded steady growth, supported by resilient domestic demand and continued expansion of agricultural export markets. Value added in agriculture increased 3.57% in the first half, contributing 3.83% to overall growth. Forestry expanded 3.98%, making up 0.27%, while fisheries rose 4.88%, accounting for 1.56%.

The services sector also posted robust growth as stronger consumer demand boosted trade, transportation and tourism activity.

According to the NSO, value added in services increased 8.09% year on year in the first half of 2026. Several major service industries continued to post solid gains and remained important contributors to economic growth. Transportation and warehousing expanded 10.18%, or 7.73% of overall growth, while wholesale and retail trade grew 9.67%, representing 13.51%. Accommodation and food services rose 8.05%, contributing 2.73%, and finance, banking and insurance activities increased 7.97%, making up 4.71%.

In terms of GDP composition during the first half of 2026, agriculture, forestry and fisheries accounted for 10.61% of the economy, industry and construction 37.66%, services 43.52%, and taxes less subsidies on products 8.21%.

On the expenditure side, final consumption increased 8.15%, gross capital formation rose 15.20%, exports of goods and services climbed 20.18%, while imports increased 26.44% compared with the same period last year.

Vietnam targets digital economy to contribute 30% of GDP by 2030

VOV.VN - Vietnam aims for the digital economy to contribute around 30% of GDP by 2030 under a newly approved national programme that places artificial intelligence (AI), data infrastructure and digital transformation at the centre of the country’s next growth model.