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.
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.