First-quarter GDP increases 6.79 percent - Illustrative image (Source: internet)Hanoi (VNA) - Vietnam’s gross domestic product (GDP) expanded 6.79percent in the first quarter of 2019, heard a press conference in Hanoi onMarch 29.
According to DirectorGeneral of the General Statistics Office (GSO) under the Ministry of Planningand Investment Nguyen Bich Lam, stable growth was seen in the agro-forestry-aquaculture;industry and construction; and service sectors, with respective increases of 2.68percent, 8.63 percent and 6.5 percent.
Notably, the industrial sector climbed 8.95 percent compared to the same periodlast year. Processing and manufacturing was the pillar of the growth, scalingup 12.35 percent.
The service industry saw great contributions from wholesale and retail sales,financial, banking and insurance activities, accommodations and restaurants,transportation and warehouses.
Trade and service activities in the quarter also saw expanded growth. The total retail sales andservices revenue climbed 12 percentyear-on-year, exceeding 1,184 trillion VND (nearly 50.9 billion USD).
Lam said the macro-economy was stable while inflation was controlled at thelowest level in the last three years.
The investment and business environment has improved, helping lift thenumber of newly-established firms to the highest level in the last five years.
Meanwhile, the rate of unemployment has decreased, the economy’s productioncapacity is expanded, creating momentum for economic development, he added.-VNA
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