At the press conference announcing socio-economic statistics for the fourth quarter and 2024 held on January 6, Director General of the General Statistics Office Nguyen Thi Huong informed that the gross domestic product (GDP) in the fourth quarter of 2024 is estimated to increase by 7.55% over the same period last year, only lower than the fourth quarters of 2017 and 2018 in the period 2011-2024, 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%, 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 added value 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%.
"GDP in 2024 is estimated to increase by 7.09% compared to the previous year, only lower than the growth rates of 2018, 2019 and 2022 in the 2011-2024 period. In the total added value growth of the entire 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%" - Ms. Nguyen Thi Huong said.
The agriculture, forestry and fishery sector in 2024 will achieve a positive growth rate of 3.27% despite being affected by natural disasters and floods. In particular, the output of many agricultural products will increase, livestock will develop stably, and aquaculture output will increase quite a bit.
Accordingly, the added value of the agricultural sector in 2024 increased by 2.94% over the previous year, contributing 0.26 percentage points to the total added value growth of the entire economy; the forestry sector increased by 5.03% but accounted for a low proportion, so it only contributed 0.03 percentage points; the fishery sector increased by 4.03%, contributing 0.10 percentage points.
In the industrial and construction sector, the industry recovered positively and grew strongly compared to 2023. The added value of the industry in 2024 increased by 8.32% over the previous year, contributing 2.70 percentage points to the growth rate of total added value of the whole economy.
Trade and tourism activities maintain 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 accounts for 11.86%; the industry and construction sector accounts for 37.64%; the service sector accounts for 42.36%; product taxes minus product subsidies account for 8.14% (the corresponding structure in 2023 is 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 11,511.9 trillion 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.
