Q1 2021: 3.16% Growth in Agri-Forestry-Fishery

On the morning of March 29, 2021, the General Statistics Office conducted a press conference to announce the socio-economic statistics of the first quarter of 2021. The gross domestic product (GDP) in this period was estimated to increase by 4.48%. Notably, the agriculture, forestry, and fishery sector experienced a growth rate of 3.16%, contributing 8.34% to the overall economic growth.

Positive GDP Growth in the First Quarter

The GDP in the first quarter of 2021 recorded a growth rate of 4.48% compared to the same period last year, surpassing the growth rate of 3.68% in the first quarter of 2020. This positive performance was driven by various sectors, with the agriculture, forestry, and fishery sector contributing significantly to the overall growth. The industry and construction sector experienced a growth rate of 6.3%, contributing 55.96% to the total growth, while the service sector witnessed a growth rate of 3.34%, contributing 35.70%.

Contributing Factors to the Growth of Agriculture, Forestry, and Fishery Sectors

The agriculture, forestry, and fishery sector in the first quarter of 2021 exhibited growth compared to the same period last year. Several contributing factors include favorable rice productivity, increased output of perennial crops, successful control of African swine fever, and significant growth in livestock production. Additionally, the export market for wood and forest products expanded during this period. Specifically, the agricultural sector grew by 3.19%, contributing 0.29 percentage points to the overall added value of the economy. The forestry sector experienced a growth rate of 3.78%, although its contribution remained relatively low at 0.02 percentage points. The fishery sector witnessed a growth rate of 2.90%, surpassing the growth rate of 2.79% in the same period last year, contributing 0.07 percentage points.

Fishery Production Statistics

According to the General Statistics Office, fishery production in March 2021 was estimated at 683.9 thousand tons, reflecting a 3% increase. In the first quarter of 2021 as a whole, fisheries production reached an estimated 1,825.3 thousand tons, showing a growth rate of 2.1% compared to the same period last year. Aquaculture production accounted for 940.3 thousand tons, experiencing a growth rate of 3.1%. Meanwhile, fishing output reached 885 thousand tons, representing a 1% increase (marine production accounted for 845.1 thousand tons, showing a growth rate of 1.1%).

Conclusion

The first quarter of 2021 witnessed positive economic growth in Vietnam, with the agriculture, forestry, and fishery sectors making notable contributions. The growth in rice productivity, perennial crop output, controlled African swine fever, expanded wood and forest product exports, and increased fishery production were key factors driving the growth of these sectors. This promising performance sets a solid foundation for the country’s economic development in the coming quarters.