Vietnam Q1 GDP grew 4.48% y/y, March exports soar 19.2%

Vietnam Q1 GDP grew 4.48% y/y, March exports soar 19.2%

Cows walk past a construction site in Hanoi on Jan 6, 2021. (AFP file photo)
Cows walk past a construction site in Hanoi on Jan 6, 2021. (AFP file photo)

HANOI: Vietnam's gross domestic product grew 4.48% in the first quarter of 2021 from the same period a year earlier, while March exports soared 19.2% year-on-year, government data released on Monday showed.

The expansion of GDP compared with 3.8% growth in the first quarter of 2020 and 4.48% in the fourth quarter.

The industrial and construction sector in the January-March period grew 6.3% from a year earlier, the General Statistics Office (GSO) said in a statement.

The services sector rose 3.34% and the agricultural sector expanded 3.16%, it said. 

Vietnam is estimated to have recorded a $400 million trade surplus in March, data showed.

Exports in March likely rose 19.2% from a year earlier to $28.6 billion, while imports were seen up 27.7% to $28.2 billion, the GSO said.

The GSO's trade data is traditionally released before the end of the reporting period and is often subject to revision.

For the first quarter, Vietnam’s exports were seen up 22% to $77.344 billion, while imports were estimated to have risen 26.3% to $75.308 billion, resulting in a trade surplus of $2.306 billion, the GSO said.

According to the GSO, Vietnam's industrial output in the first quarter rose 5.7% from a year earlier and average consumer prices rose 0.29% on the year.

Do you like the content of this article?
COMMENT (8)

FTX missing billions remain a mystery

Mystery continues to shroud the missing billions at the bankrupt crypto exchange FTX after its disgraced founder Sam Bankman-Fried denied trying to perpetrate a fraud while admitting to grievous managerial errors.

1 Dec 2022

CJ Express weighs B18-billion IPO

CJ Express Group Co, the retail chain founded by the energy drink tycoon Sathien Setthasit, is considering an initial public offering to raise at least 18 billion baht, according to people familiar with the matter.

1 Dec 2022

UK royals show ruthlessness in race row

LONDON: The timing could not have been worse for Britain's royal family, not long after one racial reckoning involving Prince Harry and ahead of a new publicity blitz from the maverick "spare heir".

1 Dec 2022