Vietnam economy expands by 5.66% in Q1 as exports boom

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Barley Risotto and Kimchi: A Culinary Crossroads| SaltWire #food #cookingshorts #kimchiHANOI -Vietnam's gross domestic product in the first quarter grew 5.66% from a year earlier as exports boomed, government data released on Friday showed, despite higher shipping costs due to turmoil in the Red Sea.

The manufacturing and construction sector grew 6.28%, while the services sector expanded 6.12% in the quarter from a year earlier, the General Statistics Office said in a report. Goods exports in the quarter grew 17% from a year earlier to $93.06 billion, while imports were up 13.9% to $84.98 billion, resulting in a trade surplus of $8.08 billion.

Industrial production in the quarter rose 21.7% from a year earlier, the GSO said, adding that consumer prices in March rose 3.97% from a year earlier and retail sales in the January-March period rose 8.2%.

 

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