Vietnam's economy is estimated to have grown 4.66% in the second quarter from a year earlier, faster than the 4.0% expansion in the first quarter, the General Statistics Office said in a press meeting held in Hanoi today June 29.

The second quarter figure boosted the country's gross domestic product growth to 4.38% from a year earlier and valued at 1,253 trillion dong ($59.6 billion)

In the first half of the year, the services sector saw the highest growth, up 5.57%, followed by industrial production and construction sector with 3.81% expansion and the agriculture –forestry- aquaculture sector 2.81% growth.

The GSO also said the biggest weighed sector in GDP was industrial production and construction accounting for 40.26%; the services sector contributing 37.61% and the agriculture –forestry- aquaculture sector accounted 22.13%.

Vietnam targets 6% GDP growth this year marginally higher than an expansion of 5.9% in 2011.

The GSO report also showed that the country's industrial production index in June rose 8.0% from a year earlier, accelerating from an increase of 6.8% in May, and its retail sales in the first half of the year rose 19.5% from a year earlier.

Source StoxPlus