AsemconnectVietnam - Vietnam's GDP expanded by 5.52 percent in the first six months of this year, compared to 6.32 percent in the same period last year, according to official data.

The slowdown reported by the country's General Statistics Office (GSO) was attributed to global economic volatility and adverse weather conditions, Vietnam News reports today.

GSO General Director Nguyen Bich Lam said the service industry was the biggest success of the first six months, hitting a three-year record high of 6.35 percent, while wholesale and retail, and real estate were among the sectors also to report growth.

Kam said unusual conditions such as cold spells in northern provinces, and drought and saltwater intrusion in the Mekong Delta in the South, had adversely hit local crops, while Vietnam was also influenced by the unstable world economy.

The International Monetary Fund (IMF) has projected economic expansion in Vietnam of 6.3 percent this year, after the country recorded a five-year high of 6.68 percent in 2015.

Source: Reuters.com