Vietnam’s GDP expands 5.66% in first quarter

Chia sẻ
(VOVWORLD) - Vietnam’s economy grew 5.66% in the first 3 months of this year, the highest for the first quarter since 2020, the General Statistics Office (GSO) said at a press conference in Hanoi on Friday. 
Vietnam’s GDP expands 5.66% in first quarter - ảnh 1The GSO hosts a press conference in Hanoi on March 29, 2024, to announce Q1’s socio-economic statistics. 

With a growth rate of 7%, the processing and manufacturing industry continued to drive the country’s economic growth.

The GSO also noted robust trade activities, a strong tourism recovery, and high increases in export turnover of key products. Total trade jumped more than 15% to 178 billion USD with a trade surplus of over 8 billion USD.

Meanwhile, the consumer price index (CPI), a key measure of inflation, climbed 3.77%.

Nguyen Thi Huong, GSO Director General, proposed some measures to cope with upcoming challenges in the second quarter. 

“It’s crucial to update growth and inflation scenarios to work out timely solutions. Macroeconomic management policies need to be effectively coordinated to maintain economic stability and growth.”

It is necessary to closely monitor and appropriately adjust the prices of essential goods and services to minimize their impact on production and business activities and especially people’s lives, said Huong.