Vietnam Q1 growth hits five-year high on strong exports

HANOI, March 29 (AFP) : Vietnam's economy grew by 5.66 percent on-year in the first quarter, according to official data published Friday, boosted by strong exports.
It is the communist country's strongest Q1 growth since 2019, but still well off Standard Chartered Bank's forecast of 6.1 percent.
"The country's socioeconomic situation in the first quarter of 2024 achieved positive result despite many uncertainties in the world economy," the General Statistics Office (GSO) said in a statement.
The industrial and construction sector expanded by 6.28 percent, while the service sector grew 6.12 percent compared with the same period in the previous year.