Q1 marks 6.03 percent GDP growth

14:08 | 28/03/2015 Economy- Society

The Vietnamese economy grew 6.03 percent within the first quarter compared to that of 2014, the highest figure in a positive Q1 growth trend maintained from 2011 through 2014, unveiled the General Statistics Office (GSO) on March 26.

Q1 marks 6.03 percent GDP growth

The growth was fuelled by the mining sector and the processing & manufacturing industry, noted GSO Director General Nguyen Bich Lam.


The industrial production index climbed 8.35 percent overall, an all-time annual high since 2010. The mining sector increased by 6.8 percent with increased figures seen in both crude and coal exploitation output. The processing & manufacturing industry rose 9.51 percent from substantial sales of popular products, including mobile phones, automobiles, televisions and aquatic-farming food.


Meanwhile, the agro-forestry and service sectors gained 2.14 and 5.82 percent, respectively, both below last year’s figures.


According to Lam, second-quarter growth will face difficulties if the mining sector does not maintain its momentum and non-commercial services, such as healthcare and education, underperform.


Recent price increases of electricity and petroleum also contribute to Q2 challenges, he said.

 

                                                                                                                                                                                                                                                                Source VNA

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