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Vietnam’s Gross Domestic Product Grows 7.4% in Q3 2024

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According to the data from the Vietnam General Administration of Statistics, Vietnam's GDP grew by 7.4% year-on-year in the third quarter of 2024; Vietnam's A529 Grade 50(345) steel overall GDP grew by 6.8% year-on-year in the first nine months of 2024. Despite the impact of the typhoon, which caused significant losses to the socio-economic infrastructure and agricultural, forestry, and fishery production in various provinces and cities in northern Vietnam, Vietnam's GDP maintained strong growth in the third quarter of 2024.

Specifically, in terms of the A529 Grade 50(345) steel proportion structure of GDP, agriculture saw a year-on-year growth of 2.6% in the third quarter and 3.2% in the first nine months of 2024, contributing 5.37% to the overall increase in economic value added; The industrial and construction industries saw a year-on-year growth of 9.1% in the third quarter and 8.2% in the first nine months of 2024, contributing 46.22% to the overall increase in economic value added; The service industry saw a year-on-year growth of 7.5% in the third quarter and 6.9% in the first nine months of 2024, contributing 48.41% to the overall increase in economic value added.

According to Ms. Nguyen Thi Thieng, Director of the Vietnamese Statistics Bureau, Vietnam's socio-economic A529 Grade 50(345) steel situation continued to improve in the third quarter of 2024 and the first nine months of this year, with many important achievements in various industries and fields, creating growth momentum for the remaining months of this year.

  • Source: Abstract
  • Editor: Shirley

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