GDP in the first quarter increased by 6.93%

On the morning of April 6, the General Statistics Office (GSO) announced the economic situation in the first three months of the year. Vietnam's economy in the first quarter improved, increasing by 6.93%.

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This level is lower than previous forecasts by some international organizations such as Standard Chartered or UOB Bank (Singapore) which predicted that Vietnam's economic growth in the first quarter could reach 7.1-7.7%.

Ms. Nguyen Thi Huong, Director of the General Statistics Office (Ministry of Finance) said that the growth results in the first quarter of this year have not reached the higher target set in Resolution No. 25 of the Government. According to her, the reason is that the world is changing rapidly, many instabilities have affected Vietnam's socio-economy.

The industrial and construction - service sectors still account for the highest proportion, supporting the economy.

Of which, services are the group that contributes the most to the added value of the economy, more than 53.74%. According to the General Statistics Office, the high demand for consumption during the Lunar New Year and the number of international visitors to Vietnam contributed to the growth of the trade and service sector reaching a fairly high level. Thanks to that, the added value of this sector increased by 7.7% compared to the previous year.

Industry and construction continued to flourish. The added value of the entire industrial sector in the first three months increased by 7.32%, of which the processing and manufacturing industry was the growth driver with a growth rate of 9.28%.

Similarly, the agriculture, forestry and fishery sector achieved its growth target in the first quarter. The added value of this sector in the first quarter increased by 3.74%.

Regarding the economic structure, the agriculture, forestry and fishery sector accounts for 11.56%; industry and construction is 36.31%; and services 43.44%. This structure is similar to the same period last year.

The first quarter also witnessed bustling import and export activities, reaching over 202 billion USD. This level increased by 13.7% compared to the same period last year, of which exports increased by 10.6% and imports by 17%. The trade balance of goods had a surplus of 3.16 billion USD.

Many sectors have recovered, but businesses are still struggling. According to the General Statistics Office, the number of dissolved and inactive units in the first quarter of the year was higher than the number of new units that returned to the market.

In the first three months of the year, the country had more than 36,400 newly established enterprises, with a total registered capital of VND 356,800 billion. The number of enterprises returning to operation also increased slightly by 2.4% compared to the same period in 2024, reaching more than 36,500 units. Thus, each month, there are more than 24,300 newly established enterprises returning to operation.

However, the number of businesses closing and dissolving is still increasing sharply. On average, nearly 26,300 businesses withdraw from the market each month. Thus, the number of businesses closing each month is about 2,000 higher than the number of newly established businesses.

The survey results on business trends of manufacturing and processing enterprises - the driving force of the economy - showed that over 24.1% said the production and business situation was better than in the last quarter of last year. Over 47% of businesses considered it stable, while the rest assessed it as difficult.

Also according to data from the General Statistics Office, the consumer price index (CPI) in the first 3 months of the year increased by 3.22% over the same period in 2024.

According to VnExpress

Source: https://baobacgiang.vn/gdp-quy-i-tang-6-93--postid415564.bbg