Total retail sales of goods and service turnover projected to see a year-on-year 24% increase.

Vietnam’s economy is expected to grow by 5.7-5.9% in the first quarter or nearly double the rate for the same quarter last year, according to the General Statistics Office (GSO).

The GSO based the projection on the national economy’s performance in the two first months, taking into account possible ups and downs it may face in the future.

According to the office, the total retail sales of goods and service turnover are projected to see a year-on-year 24% increase.

Industrial production value is projected to grow by 13.5-13.8%, and agricultural, forestry and fishery production value, 5.6-5.8%.

The GSO has estimated an import value of US$16.8 billion with the majority of imports being input materials due to the strong recovery of domestic production and export value of US$14.2 billion in the reviewed period. (VNA)