Vietnam's GDP in the first quarter was 100 billion US dollars, and the amount of foreign trade increased by 15.5%
Compared to the statistical offices of other countries and regions, the efficiency of the staff of the National Bureau of Statistics of Vietnam is really high, and it is the first country in the world to publish an economic report card for the first quarter of 2024. Nansheng believes that there are the following three characteristics, which are now shared with interested netizens.
The first is that the national economy achieved a growth rate of 5.66 percent
Preliminary statistics show that Vietnam's economy achieved a substantial growth of 5.66% in the first quarter of 2024. Among them, agriculture grew by 2.98%, contributing 6.09% to the overall economic growth of Vietnam. Aquaculture production increased by 2.4 percent year-on-year, but rice cultivation decreased by 130 000 hectares.
In the first quarter of this year, Vietnam's industrial and construction sectors grew by 6.28 percent year-on-year, contributing 41.68 percent to the overall growth of the national economy. Among them, the manufacturing industry increased by 6.98%, which is not only higher than the overall development level of the national economy, but also higher than the improvement level of the secondary industry.
It is an end to the unfavorable situation in the previous quarters that "the growth of the manufacturing industry is lower than the overall development level of the national economy", and it shows that the strategy implemented by the Vietnamese authorities in the second half of last year to focus on improving the quality of industrialization and comprehensively realizing the modernization of all fields of economic and social life has achieved initial results.
A few months ago, Vietnam held an "Industry 4.0 Summit" in which it was stated that the new government called for the acceleration of the Fourth Industrial Revolution, which includes but is not limited to "creating an environment conducive to industrialization and modernization, restructuring institutions, promoting entrepreneurship and promoting innovation".
Then there is the tertiary sector, which is the service sector in general, which achieved a real growth of 6.12% in the first quarter of this year, contributing 52.23% to the overall growth of the Vietnamese economy. Among them, due to factors such as favorable visa policies, the tourism industry has recovered strongly by more than 10 percentage points.
The released national economic statistics report also showed that in the first quarter of this year, the nominal GDP of the whole society of Vietnam was 2513.0913 trillion VND, a real increase of 5.66% at comparable prices - 100 billion US dollars at the average exchange rate, a new high.
followed by a 17% increase in the value of commodity exports
In the first quarter of this year, the total import and export value of Vietnam's goods was 178.04 billion US dollars, a year-on-year increase of 15.5%. Among them, the value of commodity exports was 93.06 billion US dollars, an increase of 17 percent, and the value of imported goods was 84.98 billion US dollars, an increase of 13.9 percent.
Vietnam's foreign merchandise trade surplus widened to US$8.08 billion in the first quarter, setting a new record for the first quarter of the year. Among them, China continues to be the largest channel for Vietnam's imports, and the United States is the primary destination for Vietnam's exports.
According to Vietnam's statistics, the value of goods imported from China in the first quarter of this year was about 29.4 billion US dollars, and the value of goods exported to the United States was 26.2 billion US dollars. Similar to India and Mexico, Vietnam remains an important "transit point" for logistics between China and the United States.
Tip: The total amount of imports and exports is higher than GDP, and the data is not wrong. For small and medium-sized export-oriented economies, it is the norm for their total foreign trade to exceed GDP, sometimes by a factor of two. For example: mainland Hong Kong, Singapore, the Netherlands, Belgium, etc.
Third, the average salary of employed people in Vietnam has reached a record high
In the first quarter of this year, the average monthly income of employed people in Vietnam was VND 7.6 million, an increase of VND 549,000 over the same period of the previous year. According to the current real-time exchange rate, the "average monthly salary of Vietnamese employees is 2,215 yuan". What do netizens think about this?
Please note that this income is for employed people, not business owners, and is a monthly salary. The Vietnamese side also said that the per capita monthly income of Vietnamese residents was 5.2 million VND, a year-on-year increase of 10% - about 1,516 yuan. This article is written by Nansheng, and reprinting and plagiarism are strictly prohibited!