Vietnamese GDP expanded rapidly in the first quarter of 2022, while the stock market plummeted
- 125
- Business
- 14:59 07/04/2022
DNHN - Although the first quarter of 2022 saw the highest number of Covid-19 infections nationwide, Vietnam's GDP growth increased by 5.03 per cent, maintaining the quarter's increasing momentum and demonstrating positive signs of an economy recovering strongly and entering a new normal following the pandemic.

According to the report on the socio-economic situation in the first quarter of 2022, the gross domestic product (GDP) in the first quarter of 2022 is estimated to increase by 5.03% over the same period last year, higher than the growth rate of 4.72% in the first quarter of 2021 and 3.66% of the first quarter of 2020 with the processing and manufacturing industry continuing to be the main growth drivers.
In the industry and construction sector, the industry in the first quarter of 2022 increased by 7.07% over the same period last year, higher than the increase of 6.44% in the first quarter of 2021, contributing 2.42 percentage points to the growth rate of total value added of the whole economy.
The processing and manufacturing industry grew strongly with an increase of 7.79%, contributing 2.05 percentage points. The mining industry grew positively by 1.23% (coal mining increased by 3.2% and metal ore increased by 5%), increasing by 0.04 percentage points the increase in the total added value of the whole economy. The construction industry grew by 2.57%, lower than the 6.53% growth rate of the first quarter of 2021, contributing 0.16 percentage points.
The service sector in the first quarter of 2022 prospered when many service activities were active again. Contributions of some market service industries with a large proportion to the increase in total value added in the first quarter of this year are as follows: Financial, banking and insurance activities increased by 9.75% over the same period last year in advance, contributing 0.54 percentage points; transportation and warehousing increased by 7.06%, contributing 0.43 percentage points; wholesale and retail increased by 2.98%, contributing 0.31 percentage points; accommodation and catering services decreased by 1.79%, down 0.04 percentage points.
Regarding the structure of the economy in the first quarter of 2022, the agriculture, forestry and fishery sector accounts for 10.94%; industry and construction accounted for 37.97%; service sector accounted for 41.70%; product tax minus product subsidies accounted for 9.39% (corresponding structure of the same period in 2021 was 11.61%; 36.61%; 42.38%; 9.40%). Regarding GDP use in the first quarter of 2022, final consumption increased by 4.28% over the same period last year; accumulated assets increased by 3.22%; exports of goods and services increased by 5.08%; imports of goods and services increased by 4.20%.
Although GDP growth in the first three months of the year was positive, it was still lower than the 6.85 per cent growth rate in the same period last year, indicating that the economy requires further time to recover from the pandemic's adverse effects on industries such as Vietnam will restore tourist destinations and welcome international visitors at the end of Q1, the industry's primary source of revenue. Vietnam's GDP in the second quarter of 2022 could climb significantly more than it did in the first quarter if the epidemic is mostly contained and the government's economic support programs take effect gradually.

GDP report in the first quarter of 2022 showed good growth, showing a healthy and recovering economy, creating conditions for the stock market to grow. Closing the session on 4/5, VN-Index closed at 1520 points, only 0.5% lower than the historical peak of 1528 points, the market recovered well after a period of the bad influence of the stock market. due to political tensions between Russia and Ukraine.
The VN30 index - a collection of 30 stocks with large-cap indexes leading the market to close at more than 1539 points, although 0.57% lower than yesterday's closing level of 1548.5, but increased significantly by 3.7 % compared to 1484 points a week ago and returned to lead the market after a period of being overshadowed by small-medium cap-cap stocks.
With strong GDP reports, financial statements for the first quarter of 2022 of companies in strong growth fields such as processing and manufacturing industries such as steel stocks - a new industry that has joined the export block of more than 10 billion USD. in 2021; or banking-insurance stocks, which account for a large proportion in the VN30, can also be a bright spot, bringing the Vietnamese stock market to a new peak.
Anh Duc
Related news
- Mr. Le Viet Thang, CEO of 1Office: "Don’t use old solutions for new ai challenges"
- VinFast: a strategic pivot amid the green industry storm?
- 127 high-value projects post-merger: Ho Chi Minh City rolls out the red carpet for strategic investors
- Pakistani Ambassador to Vietnam: “Peace and unity are the strength to build the future.”
- Vietnam's Semiconductor Leap: Five Strategic Policies to Reach 2027 Goal
- What’s Vietnam’s game plan as President Trump pressures the Fed?
- SK Innovation and HD Hyundai (South Korea) step up cooperation with Khánh Hòa Province (Vietnam)
- Quang Tri attracts $96.5 mln in new projects in July
- A trade fair organizer surprises by joining the ranks of top-earning listed companies
- HDBank secures USD 215 million syndicated loan from JICA, SMBC, and FinDev Canada
- Samsung Electronics Vietnam inaugurates its first rooftop solar project at Bac Ninh Factory
- Promoting market development for science and technology products
- Sao Mai Group’s pangasius export segment embraces new opportunities
- Energy transition in Vietnam: Opportunities and challenges from coal power to renewables
- Renewable energy: Steering in the right direction of the times
- Clean energy must be protected by transparent, stable, and consistent policies
- European-standard ingredients: Inspiring culinary journeys from the heart of the kitchen
- The foundational mark of pioneers in renewable energy amidst an evolving legal framework
- Taste of Queensland: Strengthening Vietnam–Queensland Partnerships through Culinary Diplomacy
Đọc thêm Business
VinFast: a strategic pivot amid the green industry storm?
As the global auto industry accelerates its transition to electric mobility, VinFast faces its toughest test yet: soaring financial pressure, heated debates on phasing out combustion engines, and mounting global competition.
127 high-value projects post-merger: Ho Chi Minh City rolls out the red carpet for strategic investors
Ho Chi Minh City has unveiled a portfolio of 127 strategic projects as part of a major investment restructuring effort post-boundary expansion, signaling a shift toward selective and high-impact investment in technology, finance, and logistics.
Vietnam's Semiconductor Leap: Five Strategic Policies to Reach 2027 Goal
Vietnam has set an ambitious target: to manufacture "Make in Vietnam" semiconductor chips by 2027. This bold commitment marks a defining moment in the country’s high-tech trajectory, positioning Vietnam as a rising contender in the global chip race.
What’s Vietnam’s game plan as President Trump pressures the Fed?
In a move that rattled political circles and financial markets worldwide, U.S. President Donald Trump declared he would sue Federal Reserve Chairman Jerome Powell for “stifling growth” with high interest rates.
Quang Tri attracts $96.5 mln in new projects in July
The provincial authorities approved investment policy for 13 projects in the month of July.
Samsung Electronics Vietnam inaugurates its first rooftop solar project at Bac Ninh Factory
July 31, 2025, Samsung Electronics Vietnam (SEV) officially inaugurated the rooftop solar power project at the SEV factory in Yen Phong Industrial Park, Bac Ninh.
Promoting market development for science and technology products
The Trade Promotion Agency affirmed that it will continue close coordination with trade offices, domestic entities, and industry associations to effectively implement trade promotion programs tailored to science and technology products.
European-standard ingredients: Inspiring culinary journeys from the heart of the kitchen
The EU Good Food – Good Life campaign, funded by the European Union, has enriched the variety of EU-standard food ingredient options available in the Vietnamese market.
Taste of Queensland: Strengthening Vietnam–Queensland Partnerships through Culinary Diplomacy
Against the elegant backdrop of the “Taste of Queensland” networking dinner, government officials, business leaders, and investors from Vietnam and the Australian state of Queensland gathered to celebrate and advance a thriving bilateral relationship
“Lithuanian President’s visit opens a new chapter in bilateral cooperation with Vietnam”
This assessment was shared by Mr. Arunas Karlonas, Commercial Affairs Counsellor of the Lithuanian Embassy, regarding the potential cooperation between the two countries following the recent official visit of the Lithuanian President to Vietnam.