FDI inflows surge 14.8%

According to the Ministry of Agriculture and Rural Development, Vietnam exported 2.07 million tonnes of rice in the first quarter of 2024, earning 1.37 billion USD in revenue. This represents a 12% increase in volume and 40% in value compared to the same period of 2022.

In its April 2024 Asian Development Outlook (ADO) report, the Asian Development Bank (ADB) has maintained its earlier forecast for Vietnam’s economic growth this year, despite ongoing uncertainties from the external environment. Vietnam’s economy is expected to achieve a growth rate of 6.0% in 2024 and 6.2% in 2025.

The total export turnover of agricultural, forestry, and fisheries products in the first three months of 2024 is estimated to reach 13.53 billion USD, an increase of 21.8% compared to the same period of 2023.

Vietnam’s Consumer Price Index (CPI) increased 3.77% year-on-year in the first quarter of 2024 due to rising prices for domestic rice and services such as electricity, water, education and healthcare.

Vietnam’s industrial sector posted significant growth in the first quarter of 2024, of an estimated 6.18% compared to the first quarter of 2023. In particular, manufacturing and processing saw robust growth of 6.98%.