Vietnam reports Q1 GDP growth of 5.66%

Shoes for export are seen at a shoe factory in Hanoi, Vietnam Dec 29, 2020. REUTERS/Kham/ File photo

HANOI  — Vietnam’s gross domestic product grew 5.66 percent from a year earlier, led by manufacturing and services, government data released on Friday showed.

Growth in the January-March quarter for the manufacturing and exports-led economy was faster than the expansion of 3.41 percent in the same period last year, but slower than the 6.72 percent growth in the fourth quarter.

The manufacturing and construction sector grew 6.28 percent , while the services sector expanded 6.12 percent from a year earlier, the General Statistics Office (GSO) said in a report.

Goods exports in the quarter grew 17 percent from a year earlier, while industrial production rose 21.7 percent , the GSO said.

Consumer prices in March rose 3.97 percent from a year earlier, it said, adding that retail sales in the January-March period rose 8.2 percent .