GDP in the first quarter reached the highest growth rate in the past 5 years

Our country's socio-economic situation in the first quarter achieved many positive results in the context of the world economy still having many uncertainties.

Director of the General Statistics Office (Ministry of Finance) Nguyen Thi Huong announced statistical data.

On April 6, the General Statistics Office (Ministry of Finance) held a press conference to announce socio-economic statistics for the first quarter of 2025. Director of the General Statistics Office Nguyen Thi Huong said: Gross domestic product (GDP) in the first quarter is estimated to increase by 6.93% over the same period last year, reaching the highest increase compared to the first quarter of the years in the period 2020-2025.

Of which, the agriculture, forestry and fishery sector increased by 3.74%, contributing 6.09% to the total added value of the whole economy; the industry and construction sector increased by 7.42%, contributing 40.17%; the service sector increased by 7.70%, contributing 53.74%.

This growth result exceeded the target set for the first quarter of 2025 in Resolution No. 01/NQ-CP, but did not reach the higher target set at Resolution No. 25/NQ-CP Due to the rapid changes in the world, many instabilities have affected our country's socio-economy.

Regarding the economic structure in the first quarter, the agriculture, forestry and fishery sector accounted for 11.56%; the industry and construction sector accounted for 36.31%; the service sector accounted for 43.44%; product taxes minus product subsidies accounted for 8.69%.

Regarding GDP use in the first quarter of 2025, final consumption increased by 7.45% over the same period last year, asset accumulation increased by 7.24%, exports of goods and services increased by 9.71%, and imports of goods and services increased by 12.45%.

The consumer price index (CPI) in March decreased by 0.03% compared to the previous month; increased by 1.3% compared to December 2024 and increased by 3.13% compared to the same period last year. Overall, the CPI in the first quarter increased by 3.22% compared to the same period last year.

On average, core inflation in the first quarter increased by 3.01% over the same period last year, lower than the average CPI (increased by 3.22%), mainly due to the prices of food, foodstuffs, electricity, and medical services, which are factors affecting the CPI increase but are excluded from the list of goods for calculating core inflation.

Domestic gold prices fluctuated in the same direction as world gold prices. In March, world gold prices increased sharply and continuously set new peaks due to the combined impact of many economic and geopolitical factors. Domestically, the gold price index in March increased by 4.68% compared to the previous month; increased by 32.68% compared to the same period last year; increased by 10.75% compared to December 2024. On average, the gold price index in the first quarter increased by 31.45%.

Meanwhile, the domestic US dollar price fluctuated in the opposite direction to the world price, averaging around 25,685 VND/USD on the free market. The US dollar price index in March increased by 0.77% compared to the previous month; increased by 3.4% compared to the same period last year; increased by 0.92% compared to December 2024. On average, the US dollar price index increased by 3.63% in the first quarter.

Industrial production in the first quarter continued to flourish with the industrial production index estimated to increase by 7.8% over the same period last year, the highest increase in the first quarter since 2020, of which the processing and manufacturing industry increased by 9.5%.

As of March 31, total registered foreign investment capital in Vietnam reached 10.98 billion USD, up 34.7% over the same period last year. Foreign investment capital realized in Vietnam in the first three months of the year is estimated at 4.96 billion USD, up 7.2% over the same period last year.

On the other hand, Vietnam's overseas investment in the first three months of 2025 had 30 projects newly granted investment certificates with a total capital of 233.6 million USD, 9.4 times higher than the same period last year; there were 5 projects with adjusted capital with an increase of 5.4 million USD, 24.3 times higher. In total, Vietnam's total overseas investment capital (newly granted and adjusted capital) reached nearly 239 million USD, 9.5 times higher than the same period last year.

State budget revenue in the first quarter reached VND 721.3 trillion, equal to 36.7% of the annual estimate and up 29.3% over the same period last year; State budget expenditure is estimated at VND 428.2 trillion, equal to 16.8% of the annual estimate and up 11.6% over the same period last year, ensuring the needs of socio-economic development, national defense, security, State management, payment of due debts as well as timely payment to subjects according to regulations.

In the first quarter of 2025, the total import and export turnover of goods reached 202.52 billion USD, up 13.7% over the same period last year, of which exports increased by 10.6%; imports increased by 17.0%. The trade balance of goods had a surplus of 3.16 billion USD.

The total number of enterprises entering and re-entering the market in the first quarter reached 72.9 thousand enterprises, an increase of 18.6% over the same period in 2024, but there were also nearly 79 thousand enterprises withdrawing from the market, an increase of 7.0%.

In the first quarter, total retail sales of goods and consumer service revenue at current prices are estimated at VND 1,708.3 trillion, up 9.9% over the same period last year (in the first quarter of 2024, it increased by 8.6%), if excluding price factors, it increased by 7.5% (in the first quarter of 2024, it increased by 5.5%).

Passenger transport in the first quarter is estimated at 1,414.2 million passengers, up 17.6% over the same period last year; freight transport is estimated at 715.8 million tons of goods transported, up 15.4%.

Telecommunications revenue in the first quarter of 2025 at current prices is estimated at VND94.7 trillion, up 5.1% over the same period last year (excluding the price increase factor of 4.6%). The total number of telephone subscribers at the end of March 2025 is estimated at 121.7 million, down 3.7% over the same period last year, of which the number of mobile subscribers is 119.6 million, down 3.6%. The number of fixed broadband internet subscribers at the end of March is estimated at more than 23.6 million, up 2.9% over the same period last year.

Ms. Huong also said that thanks to favorable visa policies, enhanced tourism promotion programs, and prestigious tourism awards presented by international organizations, the number of international visitors to Vietnam continues to increase.

Specifically, in the first quarter, international arrivals to Vietnam reached more than 6 million, up 29.6% over the same period last year. Of which, arrivals by air reached 5.2 million, accounting for 86.4% of international arrivals and up 34.0% over the same period last year; by road reached 685.5 thousand arrivals, accounting for 11.4% and up 9.6%; by sea reached 133.0 thousand arrivals, accounting for 2.2% and down 2.7%.

By region, visitors from Asia reached more than 4.7 million, up 33.8%; visitors from Europe reached 791.9 thousand, up 19.6%; visitors from America reached 341.5 thousand, up 13.0%; visitors from Australia reached 160.1 thousand, up 11.4%; visitors from Africa reached 12.3 thousand, down 5.9%.

Source: https://baohungyen.vn/gdp-quy-i-dat-muc-tang-cao-nhat-trong-5-nam-tro-lai-day-3180382.html