The Vietnamese economy expanded about 3.32% in Q1 of 2023 compared to the same period last year. (Photo: VNA) The expansion is only higherthan the 3.21% recorded in Q1 of 2020 during the 2011 - 2023 period, theGSO told a press conference on March 29.
In particular, theagro-forestry-fishery sector expanded 2.52% and contributed 8.85% to the GDPgrowth. Meanwhile, industry and construction contracted 0.4%, leading to a4.76% decline in the growth, and the service sector increased 6.79% tocontribute to 95.91% of the overall expansion.
In the agro-forestry-fishery sector,agriculture saw a year-on-year increase of 2.43% in added value, forestry3.66%, and fisheries 2.68%.
The GSO press conference on March 29 (Photo: VNA) The service sector has clearly shownrecovery as a result of consumption stimulation policies, the economic reopeningsince March 15 last year, and overseas tourism promotion, GSO General DirectorNguyen Thi Huong said.
Between January and March, the agro-forestry-fisherysector made up 11.66% of the economy, industry and construction 35.47%, theservice sector 43.65%, and taxes on goods (excluding subsidies) 9.22%.
Among the 63 provinces andcentrally-run cities, 58 posted growth in gross regional domestic product (GRDP)while five saw declines, the GSO noted.
Huong held that amid global economic uncertainties,the positive socio-economic results in Q1 have proved the effectiveness of management andgovernance policies of the Government, ministries, sectors, and localities./.
VNA
