Vietnam reports Q1 GDP growth of 5.66%

By Thomson Reuters Mar 28, 2024 | 9:19 PM

HANOI (Reuters) – Vietnam’s gross domestic product grew 5.66% from a year earlier, led by manufacturing and services, government data released on Friday showed.

Growth in the January-March quarter for the manufacturing and exports-led economy was faster than the expansion of 3.41% in the same period last year, but slower than the 6.72% growth in the fourth quarter.

The manufacturing and construction sector grew 6.28%, while the services sector expanded 6.12% from a year earlier, the General Statistics Office (GSO) said in a report.

Goods exports in the quarter grew 17% from a year earlier, while industrial production rose 21.7%, the GSO said.

Consumer prices in March rose 3.97% from a year earlier, it said, adding that retail sales in the January-March period rose 8.2%.

(Reporting by Khanh Vu; Editing by Martin Petty)