On the morning of April 6th, the General Statistics Office (GSO) announced the economic situation for the first three months of the year. Vietnam's economy showed positive signs in the first quarter, growing by 6.93%.
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This figure is lower than previous forecasts from some international organizations such as Standard Chartered or UOB Bank (Singapore), which predicted that Vietnam's economic growth in the first quarter could reach 7.1-7.7%.
Ms. Nguyen Thi Huong, Director of the Statistics Department ( Ministry of Finance ), stated that the growth results in the first quarter of this year did not meet the higher target set in Government Resolution No. 25. According to her, the reason is the rapid changes and instability in the world, which have affected Vietnam's socio-economic situation.
The industrial and construction-service sectors still account for the highest proportion, acting as the backbone of the economy.
Of these, services contributed the most to the added value of the economy, accounting for over 53.74%. According to the General Statistics Office, increased consumer demand during the Lunar New Year and the high number of international tourists visiting Vietnam contributed to the relatively high growth of the trade and service sector. As a result, the added value of this sector increased by 7.7% compared to the previous year.
Industry and construction continued to thrive. The added value of the entire industrial sector increased by 7.32% in the first three months, with the manufacturing industry being the driving force behind this growth at a rate of 9.28%.
Similarly, the agriculture, forestry, and fisheries sector achieved its growth targets in the first quarter. The added value of this sector increased by 3.74% in the first quarter of the year.
In terms of economic structure, the agriculture, forestry, and fisheries sector accounts for 11.56%; industry and construction for 36.31%; and services for 43.44%. This structure is similar to the same period last year.
The first quarter also witnessed bustling import and export activities, reaching over $202 billion. This represents a 13.7% increase compared to the same period last year, with exports rising by 10.6% and imports by 17%. The trade balance showed a surplus of $3.16 billion.
Many sectors are recovering, but businesses are still facing difficulties. According to the General Statistics Office, the number of businesses dissolving or ceasing operations in the first quarter of the year was higher than the number of new businesses established or re-entering the market.
In the first three months of the year, the whole country saw the establishment of over 36,400 new businesses, with a total registered capital of 356,800 billion VND. The number of businesses resuming operations also increased slightly by 2.4% compared to the same period in 2024, reaching over 36,500 units. Thus, each month saw more than 24,300 new businesses being established or resuming operations.
However, the number of businesses closing or dissolving continues to rise sharply. On average, nearly 26,300 businesses withdraw from the market each month. Thus, the number of businesses closing each month is approximately 2,000 higher than the number of new businesses established.
The results of a survey on business trends in the manufacturing sector – a driving force of the economy – show that over 24.1% said business conditions were better than in the last quarter of last year. More than 47% of businesses viewed the situation as stable, while the remainder assessed it as difficult.
According to data from the General Statistics Office, the consumer price index (CPI) for the first three months of the year increased by 3.22% compared to the same period in 2024.
Source: https://baobacgiang.vn/gdp-quy-i-tang-6-93--postid415564.bbg
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