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Vietnam’s GDP up 5.03% in the First Quarter

Vietnam’s National Statistics Office reported that gross domestic product (GDP) in the first quarter of 2022 increased by 5.03% year-on-year.

The agriculture, forestry and fishery sectors increased by 2.45% compared to the same period last year. The industry and construction sector increased by 6.38%, while the services sector grew by 4.58%.

Xinhua news agency reported that Vietnam’s GDP grew slightly by 2.58% in 2021 considering the severe impact of the coronavirus pandemic.

Previously, Vietnam’s highest legislative GDP growth target for 2022 was set at 6-6.5%.

A World Bank report in January had predicted economic growth of 5.5% for Vietnam this year if the spread of the coronavirus at home and abroad can be controlled.

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