Vietnam economy grows at fastest pace for 11 years in second quarter
Vietnam's economy expanded in the second quarter at its fastest pace in 11 years thanks to a big rebound in exports and the lifting of punishing COVID-19 restrictions, authorities said Wednesday (Jun 29).
Growth in the communist nation and manufacturing powerhouse had stuttered at around 3 per cent for two consecutive years as the pandemic shut down most of the world and authorities imposed strict lockdowns.
But on Wednesday, the General Statistics Office said gross domestic product grew 7.72 per cent on-year in April-June, its best performance since 2011.
Turnover from exports rose 21 per cent to US$96.8 billion in the period, the GSO added.
Economic growth for the first half of the year was 6.42 per cent, the GSO said, inching back towards the 7 per cent enjoyed before the pandemic in 2019.
Earlier this month the World Bank said Vietnam's economic recovery "remains strong" despite uncertainties caused by the war in Ukraine, lockdowns in China and inflation.
It urged authorities to be "vigilant" about inflation risks associated with rising fuel and import prices, warning they could dampen the recovery of domestic demand. Read More...
