News & Views
HANOI — Việt Nam’s economic growth in the first quarter of 2022 was consolidated thanks to the solid performance of export-oriented manufacturing and recovering service sector, according to the Việt Nam Macro Monitoring report recently released by World Bank.
The country’s GDP grew by 5.0 per cent year-on-year in Q1-2022, comparable to the growth rate in Q4-2021, yet was still two percentage points below pre-pandemic rates.
Industry and construction and services sectors grew 6.4 per cent year-on-year and 4.6 per cent year-on-year, respectively, contributing 4.3 percentage points to quarterly GDP growth. Growth of industry and construction was driven by strong external demand for manufactured products, while services sector performance varied across sub-sector.
Source: Asia News Network
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