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The level was higher only than the growth rate of 3.21% recorded in the first quarter of 2020 in the 2011 to 2023 period.
According to a GSO's report released at a press conference on Wednesday morning, the service sector grew 6.79 percent and contributed the lion’s share of 95.91 percent to the overall GDP growth, followed by the agro-forestry-fishery sector which expanded 2.52 percent and contributed 8.85 percent. Industry and construction contracted 0.40 percent, representing a 4.76 percent fall.
Speaking at the conference, GSO General Director Nguyen Thi Huong explained that the robust growth of the service sector had clearly shown recovery thanks to the government's policies, the post-Covid-19 economic reopening, and overseas tourism promoting activities.
"Amid global economic uncertainties, the positive socio-economic results in Q1 have underlined the effectiveness of policies," she noted.
Between January and March, the agro-forestry-fishery sector made up 11.66 percent of the economy, industry and construction 35.47 percent, the service sector 43.65 percent, and taxes on goods (excluding subsidies) 9.22 percent.
GSO also said that among the 63 provinces and centrally-run cities, 58 posted growth in gross regional domestic product, while five saw declines.
During the first quarter, Vietnam recorded a total import-export value of USD 154.27 billion, which showed a decrease of 13.30 percent compared to the same period last year. Despite falling orders from overseas partners caused by the global economic downturn, Vietnam still recorded a trade surplus of USD 4.07 billion during the period.
