(MPI) - Vietnam’s gross domestic product (GDP) is estimated to increase by 5.66% in the first quarter of this year, surpassing the growth rates of first-quarter period since 2020, according to an announcement by the General Statistics Office (GSO) in Hanoi on March 29.

At the press conference. Photo: MPI

The agriculture, forestry and fishery, industrial and construction, and service sectors grew by 2.98%, 6,28% and 6.12%, contributing 6.09%, 41.68% and 52.23% to the overall value-added growth of the economy, respectively.

Industrial production in the first quarter of 2024 continued to improve, with the total value-added is estimated to rise by 6.18% compared to the same period last yea; the processing and manufacturing industry grew by 6.98%.

In the first quarter of 2024, the country saw more than 36.2 thousand new businesses registered with a total registered capital of 332.2 trillion VND and a total registered workforce of nearly 258.8 thousand employees, an increase of 6.9% in the number of businesses, 7% in registered capital, and 21.9% in the number of employees compared to the same period last year.

The number of businesses temporarily suspending operations was 53.4 thousand, an increase of 24.5% compared to the same period last year; more than 15.5 thousand businesses stopped operations awaiting the dissolution process, up 21.7%; 5.1 thousand businesses completed the dissolution process, an increase of 10,1%.

In general, in the first quarter of 2024, the export turnover of goods is estimated to reach 93.06 billion USD, an increase of 17% year-on-year. Of this, the domestic economic sector reached 25.21 billion USD, an increase of 26.2%, accounting for 27.1% of the total; the foreign-invested sector (including crude oil) reached 67.85 billion USD, up 13.9%, accounting for 72,9%.

The core inflation rose 2.81% annually in the first quarter, lower than the average of consumer price index (CPI), which climbed 3,77%./.

Bao Linh

Ministry of Planning and Investment