During the Lunar New Year, consumer demand and international visitors supported trade and services growth, with services rising 8.18%.

Industry and construction also grew, thanks to increased public investment.

Total industrial value rose 9.01%, with manufacturing driving this growth.

Agriculture, forestry, and fisheries grew steadily, with a 3.36% increase.

The economy's structure remained largely the same, with services making up 43.45%.

Trade activities were strong, with a total value of over $249.5 billion, up 23%.

Exports rose 19.1%, while imports increased 27%, resulting in a trade deficit.

Many new businesses were established, with 96,000 new or resumed operations in Q1.

However, many businesses also closed, with an average of 30,600 exiting the market each month.

Total new investment in the economy was over VND1.3 quadrillion, down 5.1%.

A survey showed that 23.8% of manufacturers reported improved business conditions.

Over 40% of businesses said conditions were stable, while the rest reported difficulties.

The Consumer Price Index rose 3.51% in the first three months, with March being the highest in five years.

The head of the General Statistics Office described Q1 growth as positive despite global challenges.

She said that domestic macroeconomic conditions remain stable, with inflation under control.

However, the economy faces challenges, being highly open to global economic and political fluctuations.

To achieve growth, Vietnam must maintain stability, ensure economic balances, and control prices.

Policymakers need to update growth and inflation scenarios and enhance the economy's self-reliance.

Fuel prices should be managed flexibly to limit domestic price increases, and state-managed prices should be reviewed.

Authorities should support sectors affected by fuel price volatility, including transport and agriculture.

Businesses should be supported with policies to defer or reduce taxes and fees during difficult times.