GDP is estimated to have expanded by 7.83 percent year-on-year, driven by strong gains in industry and construction (nearly 9 percent), services (around 8.2 percent), and agriculture, forestry, and fisheries (about 3.6 percent). State budget revenue rose 11.4 percent, while total import-export turnover surged 23 percent.
According to Ms. Do Thi Ngoc, Deputy Director General of the General Statistics Office, the results underscore positive domestic momentum but still fall short of expectations. To meet the full-year growth target, the remaining quarters will need to deliver growth of over 10 percent, powered by public investment, domestic consumption, exports, and emerging growth drivers.
The Ministry of Finance has outlined updated growth scenarios for the rest of the year, requiring even stronger performance. Under the revised projections, GDP growth is expected to reach about 10.5 percent in the second quarter, 10.6 percent in the third quarter, and 10.74 percent in the fourth quarter.
Officials stress that achieving these targets will require synchronized policy support. Public investment must be accelerated to serve as “seed capital,” expanding long-term production capacity. At the same time, domestic consumption should be stimulated through coordinated measures.
Fiscal and monetary policies will need to remain flexible to support businesses and improve capital flows, thereby boosting production. New sectors such as digital technology, artificial intelligence, and innovation are expected to act as additional growth engines, enhancing productivity and competitiveness.
Maximizing the benefits of free trade agreements will also be key to sustaining export growth.
