First-quarter GDP increases 6.79 percent
Vietnam’s gross domestic product (GDP) expanded 6.79 percent in the first quarter of 2019, heard a press conference in Hanoi on March 29.
First-quarter GDP increases 6.79 percent - Illustrative image (Source: internet)Hanoi (VNA) - Vietnam’s gross domestic product (GDP) expanded 6.79 percent in the first quarter of 2019, heard a press conference in Hanoi on March 29.
According to Director General of the General Statistics Office (GSO) under the Ministry of Planning and Investment Nguyen Bich Lam, stable growth was seen in the agro-forestry-aquaculture; industry and construction; and service sectors, with respective increases of 2.68 percent, 8.63 percent and 6.5 percent.
Notably, the industrial sector climbed 8.95 percent compared to the same period last year. Processing and manufacturing was the pillar of the growth, scaling up 12.35 percent.
The service industry saw great contributions from wholesale and retail sales, financial, banking and insurance activities, accommodations and restaurants, transportation and warehouses.
Trade and service activities in the quarter also saw expanded growth. The total retail sales and services revenue climbed 12 percent year-on-year, exceeding 1,184 trillion VND (nearly 50.9 billion USD).
Lam said the macro-economy was stable while inflation was controlled at the lowest level in the last three years.
The investment and business environment has improved, helping lift the number of newly-established firms to the highest level in the last five years.
Meanwhile, the rate of unemployment has decreased, the economy’s production capacity is expanded, creating momentum for economic development, he added.-VNA
You should also see
Cam Lam - Vinh Hao Expressway to help drive south-central region's economy
The 78.5km Cam Lam - Vinh Hao Expressway, one of the three sub-projects of the North - South Expressway project’s eastern wing, officially opened to traffic on April 26.
See more
Business
Dong Nai calls for Korean investment into green growth
The southern province Dong Nai introduced its investment projects and incentives to the Republic of Korea (RoK)’s firms at a workshop in Seoul on April 25.
Business
Vietnam ranks fifth among aquatic product suppliers for Singapore
Vietnam jumped one place to become the fifth largest exporter of aquatic products to Singapore for the first time in the first quarter of this year, according to its Trade Office in the city state.
Business
Forum seeks ways to boost exports amid external challenges
Experts gathered at a forum in Ho Chi Minh City on April 25 to seek ways to untangle knots in terms of capital and market for exporters in the context that the ongoing conflicts in many regions are disrupting international trade.
Business
Enterprises want clearer regulations on seafood production
It is necessary to develop more detailed and consistent regulations on seafood production for export in line with the implementation of solutions towards sustainable and responsible fishing practices, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
Business
InfographicRice exports up 40% in Q1
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.
