Today: 26/03/2023 15:05:17 (GMT+7)

Vietnam’s GDP estimated to expand 4.48% in Q1

Vietnam’s gross domestic product (GDP) in the first quarter of 2021 is estimated to rise 4.48%, higher than 3.68% recorded in the same period last year, the General Statistics Office (GSO) General Director Nguyen Thi Huong reported at a press conference on March 29.

The GSO leader said that the agro-forestry-fishery sector grew 3.16%, contributing 8.34% to the overall GDP growth, while industry and construction expanded 6.3%, and service sector grew 3.34%, contributing 55.96 and 35.7% to the total growth, respectively.

Vietnam’s GDP, to expand 4.48% in Q1, a press conference

At the press conference.

Huong attributed the result to the drastic and timely direction of the Government, the Prime Minister and efforts of ministries, sectors, people and businesses to continue implementing the dual targets of preventing the spread of the Covid-19 pandemic and developing the economy at the same time.

She said that in the first quarter of this year, the agro-forestry-fishery sector saw strong growth thanks to high rice and fruit production, controlled African swine flu and expanded markets for wood and forestry products.

Despite a 6.5% rise, higher than the figure of 5.1% in the first quarter of 2020, the growth of the industry and construction sector was still much lower than that in the first quarter of 2018 and 2019.

Meanwhile, processing and manufacturing continued to be the driving force for the growth of the economy with an expansion of 9.45%. The mining sector suffered negative growth of 8.24%.

Thanks to the good control of the Covid-19 pandemic and the optimization of free trade agreements, the service sector enjoyed positive signs. The growth of wholesale and retail was 6.45%, while that of the finance-banking and insurance sector was 7.3%. However, the transportation and warehouse sector and accommodation-catering services still saw decreases of 2.17% and 4.49%, respectively.

In terms of economic structure, in the first quarter, contributions from the agro-forestry-fishery sector was 11.71%, while that of industry-construction was 36.45%; services, 42.2%; and product taxes less subsidies on production, 9.64%.

Exports of goods and services rose 17.01%, while imports increased 16.38%.

Bac Giang announces eligible projects, new urban and residential areas for transfer
(BGO) - Amid the complicated developments of the real estate market, the Construction Department of Bac Giang province has published lists of projects and new urban and residential areas that are eligible for transfer of land use rights and those ineligible.
Number of foreign visitors plunge 98.7% in Q1
The number of foreign visitors to Vietnam in the first quarter of this year fell 98.7% year-on-year to just over 48,000, as the Covid-19 pandmeic continued to throw cold water on the country’s inbound tourism sector, the General Statistics Office (GSO) reported on March 29.

Source: Nhan Dan Online

Vietnam’s GDP, to expand 4.48% in Q1, a press conference
New comment has just been added. Click here
Sort:NewBest News