Vietnam economy expands by 5.66% in Q1 as exports boom for South-East Asian country

HANOI (Reuters): Vietnam's gross domestic product in the first quarter grew 5.66% from a year earlier as exports boomed, government data released on Friday showed, despite higher shipping costs due to turmoil in the Red Sea.

Growth in the January-March quarter for economy was faster than the expansion of 3.41% in the same period last year, but slower than the 6.72% growth in the fourth quarter. First quarter numbers are generally lower because of festival holidays.