Quarter I/2025: Lao Cai economic growth reaches 5.56%

Some industrial production units in the area have difficulty in clearing land for mining.

According to the report of Lao Cai Provincial Statistics Office, the total product in the province in the first quarter of 2025 increased by 5.56% over the same period in 2024, ranking 13th out of 14 provinces in the Northern Midlands and Mountains and 56th out of 63 provinces and centrally-run cities, higher than the 5.03% increase in the first quarter of 2024.

Due to lack of input materials, factories maintain operations at 50% -70% capacity.

In the general increase of 5.56% in the first quarter of 2025, the agriculture, forestry and fishery sector increased by 4.47%, contributing 0.54 percentage points to the general increase; the industry and construction sector increased by 2.78%, contributing 1 percentage point, of which industry increased by 2.10%, contributing 0.58 percentage points, construction increased by 5.13%, contributing 0.41 percentage points; the service sector increased by 8.70%, contributing 3.67 percentage points; product taxes minus product subsidies increased by 3.62%, contributing 0.36 percentage points to the general increase.

Import and export activities have not met expectations.

The fields of border gate economy, trade - services, industry and agriculture have not met expectations.

Production and business activities of units are still facing difficulties.

The reasons are unstable prices of raw materials for industrial production and lack of input materials for production; import-export activities depend heavily on the Chinese market, have not been able to expand to other markets, and the connectivity between businesses is not high.

Source: https://baolaocai.vn/quy-i2025-tang-truong-kinh-te-lao-cai-dat-556-post399684.html