GDP in the first quarter of 2025 is estimated to increase by 6.93%

First quarter growth improves

Data recently released by the General Statistics Office, Ministry of Finance shows that the gross domestic product (GDP) in the first quarter of 2025 is estimated to increase by 6.93% over the same period last year, reaching the highest increase compared to the first quarter of the years in the period 2020-2025. Of which, the agriculture, forestry and fishery sector increased by 3.74%, contributing 6.09% to the total added value of the whole economy; the industry and construction sector increased by 7.42%, contributing 40.17%; the service sector increased by 7.70%, contributing 53.74%.

The GDP growth rate in the first quarter compared to the same period last year in 2020-2025 is respectively: 3.21%; 4.85%; 5.42%; 3.46%; 5.98% and 6.93%.

This growth result exceeded the target set for the first quarter of 2025 in Resolution No. 01/NQ-CP, but did not reach the higher target in Resolution No. 25/NQ-CP dated February 5, 2025. The main reason is that the world is changing rapidly, many instabilities have affected our country's socio -economy.

In Resolution 01/NQ-CP dated January 8, 2025, the GDP growth target for the whole year of 2025 is from 6.5% - 7.0%, of which the first quarter of 2025 is 6.2% - 6.6%. In Resolution 25/NQ-CP dated February 5, 2025 of the Government , the target is higher, the whole country's growth in 2025 is 8.0% or more, of which the first quarter of 2025 is 7.7%.

"In the context of the unpredictable fluctuations in the world economic and political situation, with the participation of the entire political system, the timely, drastic and close direction and management of the Government, the Prime Minister and the efforts of all levels, sectors, localities, the business community and the people of the whole country, the first quarter of 2025 economy achieved a growth rate of 6.93%. This is a very positive growth rate, demonstrating the high determination, great efforts, drastic, timely and effective actions of the entire political system in directing, operating and implementing socio-economic development tasks in the face of rapid and unusual fluctuations in the region and the world," Ms. Nguyen Thi Huong, Director of the General Statistics Office emphasized at a press conference announcing socio-economic statistics for the first quarter of 2025 on the morning of April 6.

Statistical indicators show that the domestic macro-economy continues to be stable, inflation is controlled at an appropriate level; supply and demand of essential goods are ensured, domestic goods procurement and consumption activities maintain a fairly high growth rate; international visitors to our country have achieved a high growth rate. The agricultural, forestry and fishery sector continues to be a solid pillar of the economy with stable growth, ensuring the supply of food, foodstuffs, essential goods domestically and increasing exports; industrial production has grown positively; the growth rate of total social investment capital is much higher than the same period last year; social security is concerned and implemented effectively.

But the year's journey is still full of challenges.

According to the General Statistics Office, in the second quarter of 2025, our country's socio-economy continues to face many difficulties and challenges, especially since Vietnam's economy is highly open, so it is affected by the difficulties and challenges of the world economy; economic, political, epidemic and natural disaster fluctuations are difficult to predict.

"Therefore, achieving the growth target of over 8% by 2025 is a big challenge, requiring the joint efforts and consensus of the entire political system, the Government, businesses and people of the whole country," according to the Director of the General Statistics Office.

Sectors and levels must strengthen updating and forecasting the situation, proactively and flexibly manage in accordance with the new situation, promptly respond to emerging situations, and firmly and effectively implement the goal of promoting growth associated with stabilizing the macro economy, controlling inflation, ensuring social security and people's lives.

The General Statistics Office recommends that attention should be paid to implementing the following tasks:

Firstly , persistently maintain macroeconomic stability; ensure major balances of the economy; ensure supply of goods and control prices and markets. Continuously update scenarios on growth and inflation, closely and effectively coordinate and harmonize macroeconomic management policies to maintain stability and growth of the economy; have solutions to manage interest rate, exchange rate and credit growth policies in line with economic growth targets. Ensure supply and appropriate prices for essential goods serving people's lives.

Second , ministries, branches and localities promote the implementation and disbursement of public investment capital, quickly and effectively deploy large-scale investment tasks and projects, and increase the attraction of high-quality foreign investment capital. Strongly implement provincial, regional and sectoral planning to create new momentum and capacity for economic development. Identify projects with the ability to absorb capital to speed up implementation progress, especially key, large-scale projects with spillover effects; promote investment resources of corporations and state-owned enterprises; attract and effectively use resources from the private sector and foreign sectors. Encourage and attract strategic investors, multinational corporations and support domestic enterprises in a number of high-tech and emerging fields such as artificial intelligence and digital transformation.

Third , promote consumption, focus on developing the domestic market. Effectively implement trade promotion programs, promote the distribution of goods through digital platforms and e-commerce; promote connections between domestic manufacturers and modern distribution channels to expand the consumption of domestic products nationwide; have policies to exempt, reduce, and extend taxes, fees, charges and land rents... to support people and businesses, promote production and business activities. Promote tourism promotion, improve the quality of tourism products, create highlights to attract more tourists.

Fourth , focus on effectively implementing solutions to promote exports. Boost exports to large, potential markets, effectively promote signed trade agreements and treaties. Effectively implement trade promotion activities, connect supply and demand, remove barriers, facilitate domestic consumption and export of agricultural, forestry and fishery products. Provide information, support businesses to meet new standards of export markets, support businesses in anti-dumping lawsuits; create conditions for businesses to access capital, apply high technology to production, improve product quality and value to expand consumption markets, promote exports.

Fifth , promote and create breakthroughs for new growth drivers, develop science and technology, innovation, digital transformation, and high-quality human resources. Promote the development of green economy, circular economy, e-commerce, and new business models. Support businesses in accessing and applying artificial intelligence, digital transformation, green transformation, developing circular economy, creative economy, and sharing economy; promote new business models, focusing on a number of industries such as wholesale, retail, processing industry, manufacturing, tourism, and logistics. Have breakthrough policies to attract experts, especially talented foreign experts and overseas Vietnamese to work and develop science and innovation for Vietnam.

Sixth , strengthen disease prevention work; proactively develop plans to prevent natural disasters, warn of floods, landslides, impacts of drought, saltwater intrusion, have appropriate agricultural production plans and proactively provide irrigation, drainage, prevent and control diseases on crops and livestock; and prevent forest fires.

Effectively implement social security, labor and employment policies to ensure stability and improve people's lives. Focus on developing and training high-quality human resources in new fields, industries and occupations to meet the human resource needs for production and business of enterprises.

Source: https://thoibaonganhang.vn/gdp-quy-i2025-uoc-tinh-tang-693-162360.html