Information at the press conference to announce socio-economic statistics for the first quarter of 2025 on April 6, Director of the Statistics Office Nguyen Thi Huong assessed - the world situation is complicated, unpredictable, unpredictable, especially the US policy and the reactions of other countries.
"Increased geopolitical and trade policy instability has put pressure on household investment and spending. Toll tensions between the US and other countries and the risk of a trade war have negatively impacted global economic growth.
In addition, natural disasters and climate change have serious consequences; risks of energy security, food security, cyber security... have increased. In the context of weak growth and declining inflation in the first months of the year, many countries have loosened monetary policies to support growth" - Ms. Huong assessed.
Informing about the domestic situation, Ms. Huong said that the gross domestic product (GDP) in the first quarter of 2025 is estimated to increase by 6.93% over the same period last year, reaching the highest increase compared to the first quarter of each year in the period 2020-2025.
This growth result has exceeded the target set for the first quarter of 2025 in Resolution No. 01/NQ-CP, but has not yet achieved the higher target in Resolution No. 25/NQ-CP dated February 5, 2025 due to rapidly changing the world and many uncertainties affecting our country's socio-economy.
The agriculture, forestry and fishery sector increased by 3.74%, contributing 6.09% to the increase in total added value of the entire economy; the industry and construction sector increased by 7.42%, contributing 40.17%; the service sector increased by 7.70%, contributing 53.74%.
Agriculture, forestry and fishery sector achieved the target in the first quarter with the harvest out of some perennial trees, the output of exploited timber and aquaculture production increased quite thanks to the application of technical and high technology to meet the requirements of the domestic and export market.
In the industrial and construction sector, industrial production continues to flourish. The total added value of the entire industrial sector in the first quarter of 2025 increased by 7.32% over the same period last year (same period last year increased by 6.71%), contributing 2.39 percentage points to the increase in total added value of the entire economy.
In the service sector, consumer demand during the Lunar New Year and the increased number of international visitors to Vietnam contributed to the growth of the trade and service sector.
Regarding the economic structure in the first quarter of 2025, the agriculture, forestry and fishery sector accounted for 11.56%; the industry and construction sector accounted for 36.31%; the service sector accounted for 43.44%; product taxes minus product subsidies accounted for 8.69%.
Regarding GDP use in the first quarter of 2025, final consumption increased by 7.45% over the same period last year, asset accumulation increased by 7.24%, exports of goods and services increased by 9.71%, imports of goods and services increased by 12.45%.
