Vietnam's GDP Grew 5.66% in the First Quarter, the Highest Since 2020
Jayson 02 Apr 2024 10:26
Vietnam's GDP grew 5.66% in the first quarter, the highest growth rate since 2020, according to the General Statistics Office of Vietnam.
Industry and construction grew by 6.28% and accounted for 35.7% of GDP. This was followed by the services sector, which accounted for 43.5% of the economy, helped by significant growth in retail and tourism, which accounted for 6.12%.
Agriculture, forestry and fishery grew by 2.98% and accounted for 11.8% of GDP. The consumer price index, which measures inflation, rose 3.77% year-on-year in the quarter.
Foreign trade import and export reached US$178 billion, a year-on-year increase of 15.5%, with a trade surplus of US$8.08 billion. Previously, foreign banks including Standard Chartered and United Overseas Bank forecast first-quarter GDP growth of 5.5-6.1%.
Industry and construction grew by 6.28% and accounted for 35.7% of GDP. This was followed by the services sector, which accounted for 43.5% of the economy, helped by significant growth in retail and tourism, which accounted for 6.12%.
Agriculture, forestry and fishery grew by 2.98% and accounted for 11.8% of GDP. The consumer price index, which measures inflation, rose 3.77% year-on-year in the quarter.
Foreign trade import and export reached US$178 billion, a year-on-year increase of 15.5%, with a trade surplus of US$8.08 billion. Previously, foreign banks including Standard Chartered and United Overseas Bank forecast first-quarter GDP growth of 5.5-6.1%.
