Q1 GDP growth slows

A minus 1.23% growth rate in agriculture, forestry and fisheries has contributed to an overall decrease in Vietnam's GDP in early 2016. This is the latest data published at a press meeting of the General Statistics Office on March 25th.

Vietnam's economy slowed in the first quarter of 2016, hampered by an on-going drought and salinity that have hit the agricultural sector hard. Specifically, the first three months of the year saw GDP growth drop to 5.46 percent, down from 6.12 percent during the same period last year, according to data released by the General Statistics Office.

The data reveals that the industrial and construction sector grew 6.72% in Q1 2016, compared to an 8.74% rise a year earlier. The service sector posted a 6.13% increased, the highest rate for the same period since 2012. According to the General Statistics Office, agriculture is not the only sector that will be affected in the near

The goal of 6.7% growth rate, inflation below 5% and a trade deficit below 5% of the export turnover are challenges for Vietnam’s economy at this moment, especially when it is also influenced by the global economy's fluctuations.

Mời quý độc giả theo dõi Truyền hình trực tuyến các kênh của Đài Truyền hình Việt Nam.