Data released this morning (April 6) by the General Statistics Office (Ministry of Finance) shows that Vietnam's gross domestic product (GDP) in the first quarter of 2025 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 2020-2025 period.
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 in Resolution No. 25/NQ-CP dated February 5, 2025 due to the rapid changes in the world and many instabilities that have affected our country's socio-economy.
The agriculture, forestry and fishery sector increased by 3.74%, contributing 6.09% to the total added value of the entire economy; the industry and construction sector increased by 7.42%, contributing 40.17%; the service sector increased by 7.70%, contributing 53.74%.
Vietnam's economy grew by 6.93% in the first quarter, the highest in the first quarter of 5 years, 2020-2025 period. (Illustration photo).
The agriculture, forestry and fishery sector achieved growth targets in the first quarter with the output of some perennial crops, exploited timber output and aquaculture output increasing significantly thanks to the application of high technology and techniques to meet the requirements of the domestic and export markets.
The added value of the agricultural sector in the first quarter of 2025 increased by 3.53% over the same period last year, contributing 0.32 percentage points to the total added value growth of the entire economy; the forestry sector increased by 6.67% but due to its low proportion, it only contributed 0.03 percentage points; the fishery sector increased by 3.98%, contributing 0.09 percentage points.
In the industrial and construction sector, industrial production continued to flourish. The added value of the entire industry in the first quarter of 2025 increased by 7.32% over the same period last year (the same period last year increased by 6.71%), contributing 2.39 percentage points to the total added value growth of the entire economy.
The processing and manufacturing industry was the growth driver of the entire economy with a growth rate of 9.28%, contributing 2.33 percentage points; the electricity production and distribution industry increased by 4.60%, contributing 0.18 percentage points; the water supply, waste and wastewater management and treatment industry increased by 8.81%, contributing 0.05 percentage points; the mining industry alone decreased by 5.76%, decreasing by 0.17 percentage points.
The construction industry increased by 7.99%, higher than the growth rate of 7.57% in the first quarter of 2024, contributing 0.48 percentage points.
In the service sector, consumer demand during the Lunar New Year and the high number of international visitors to Vietnam contributed to the growth of the trade and service sector reaching a fairly high level.
Regarding the economic structure in the first quarter of 2025, the agriculture, forestry and fishery sector accounts for 11.56%; the industry and construction sector accounts for 36.31%; the service sector accounts for 43.44%; product taxes minus product subsidies account for 8.69%.
Source: https://vtcnews.vn/gdp-quy-i-tang-6-93-cao-nhat-cung-ky-5-nam-qua-ar936027.html
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