Vietnam reports Q1 GDP growth of 5.66%

HANOI : Vietnam’s gross domestic product grew 5.66 per cent from a year earlier, led by manufacturing and services, government data released on Friday showed.

Growth in the January-March quarter for the manufacturing and exports-led economy was faster than the expansion of 3.41 per cent in the same period last year, but slower than the 6.72 per cent growth in the fourth quarter.

The manufacturing and construction sector grew 6.28 per cent, while the services sector expanded 6.12 per cent from a year earlier, the General Statistics Office (GSO) said in a report.

Goods exports in the quarter grew 17 per cent from a year earlier, while industrial production rose 21.7 per cent, the GSO said.

Consumer prices in March rose 3.97 per cent from a year earlier, it said, adding that retail sales in the January-March period rose 8.2 per cent.