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BackVietnam's economic growth rate reached 9.95% in the third quarter, the fastest growth rate in four years
Vietnam's economic growth rate reached 9.95% in the third quarter, the fastest growth rate in four years
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中央社1 hour agoBusiness1 min readChinaView original

Vietnam's economic growth rate reached 9.95% in the third quarter, the fastest growth rate in four years

vietnameconomic growthAsian Development Bank

Quick Look

  • Statistics from the Vietnamese government show that the economic growth rate in the third quarter of this year reached 9.95%, setting the fastest record in four years.
  • The growth rate in the first nine months was 9.01%, a new high for the same period in 15 years.
  • The Asian Development Bank has revised up Vietnam's economic growth forecast this year to 7.8%, thanks to manufacturing expansion, strong consumption and foreign direct investment.

AI-generated summary

Why It Matters

Vietnam has long been a model for economic growth in Asia, and the government aims to achieve double-digit growth in the next five years. Last year, Vietnam's economy grew by 8% despite facing pressure from U.S. tariffs.

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(Central News Agency, Hanoi, comprehensive foreign news report on the 3rd) Vietnamese government statistics show that the economic growth rate in the third quarter of this year surged to 9.95%, higher than the 8.81% in the previous quarter, setting the fastest growth rate in four years.

Agence France-Presse reported that Vietnam has long been a success story among Asian economies, and its communist government has set a goal of achieving double-digit growth in the next five years.

The National Bureau of Statistics of Vietnam pointed out that the economic growth rate in the first nine months of this year was 9.01%, the highest growth rate in the same period in 15 years, with exports and imports increasing by 24.5% and 36.7% respectively.

Despite facing pressure from new tariffs imposed by the United States, its largest export market, Vietnam's economic growth rate last year still reached 8%, making it one of the fastest growing countries in the world.

At the end of September, the Asian Development Bank (ADB) revised Vietnam's economic growth rate this year to 7.8% from the 7.2% forecast in July. The growth was driven by "continued manufacturing expansion, strong domestic consumption, and continued foreign direct investment."

FTSE Russell upgraded Vietnam's stock market to a "Secondary Emerging Market" in September.

Open Questions

  • What will be the long-term impact of the new U.S. tariffs on Vietnam’s exports?

Related Topics

vietnam
OrganizationsVietnam National Bureau of StatisticsAsian Development BankFTSE Russellcentral news agency
PlacesUnited States
Topicseconomic growthAsian Development BankManufacturingforeign direct investment
This article was originally published by 中央社.

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