HANOI—Vietnam's economy recorded a 7.4 percent increase in gross domestic product (GDP) in the third quarter compared to the same period last year, driven by robust gains in the industrial and construction sectors.

According to Namibia Press Agency, the General Statistics Office (GSO) of Vietnam highlighted several key growth sectors in its latest report. The agriculture, forestry, and fishery sector saw a modest increase of 2.58 percent, despite challenges posed by severe weather events, including Typhoon Yagi. The services sector achieved a 7.51 percent rise, while the industry and construction sectors grew by 9.11 percent. Notably, the processing and manufacturing industry surged by 11.41 percent, marking a six-year high.

Nguyen Thi Huong, head of the GSO, also provided insights into the year-to-date performance, noting that Vietnam's GDP in the first nine months grew by 6.82 percent year-on-year. Despite the robust growth in other areas, the agriculture, forestry, and fishery sector's growth was comparatively lower at 3.2 percent over the nine-month period, attributed to the impact of September's Typhoon Yagi. The industry and construction sector saw a 5.37 percent growth, while services increased by 6.95 percent during the same timeframe.