Vietnam GDP grows 8.02% in 2022; fastest expansion in 25 years

[Viet]

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Reading higher than official growth target of 6.0%-6.5%

People ride motorcycles in Hanoi on May 31, 2021. © AP
December 29, 2022 11:58 JST

HANOI (Reuters) -- Vietnam's gross domestic product grew 8.02% in 2022, the fastest pace annually since 1997, backed by strong domestic retail sales and exports.

The reading is higher than an official growth target of 6.0%-6.5% and growth last year of just 2.58%, when COVID lockdowns left a dent on the economy and impacted factory activity.

The high annual growth number comes despite fears of a global recession and its impact on demand for exports from Vietnam, a key manufacturer of goods like textiles, footwear and electronics for big-name international brands.

"The economic performance is worth noting amid global economic and political uncertainty and challenges," the General Statistics Office (GSO) said in a report.

GDP growth in the fourth quarter was 5.92%, slowing from an expansion of 13.71% in the third quarter, the GSO said.
Exports in 2022 were up 10.6% to $371.85 billion, while retail sales rose 19.8%, the GSO said.

Consumer prices in December rose 4.55% from a year earlier, it added.

Vietnam GDP grows 8.02% in 2022; fastest expansion in 25 years

Reading higher than official growth target of 6.0%-6.5%

asia.nikkei.com

 

[REhorror]

Hope Vietnam doesn't go car culture when we finally get rich.
Motorcycle is cooler and is more environment-friendly.

 

[MH.Yang]

How many banknotes was the Vietnamese government print in 2022?

I mean, what is Vietnam's credit growth rate in 2022?