Vietnam's Economic Growth Surges to Above 7% as Exports Climb
- Economy expanded 7.46% in third quarter, government reports
- Exports rose more than 20% y/y in September and August
Two men look out at residential and commercial buildings in Ho Chi Minh City, Vietnam, on Tuesday, Jan. 10, 2017. Vietnam's economy expanded more than 6 percent for a second year in 2016, defying a regional slowdown to remain one of the world's best performers as retails sales rose 10.2 percent.
Photographer: Linh Luong Thai/BloombergVietnam’s growth accelerated in the third quarter to more than 7 percent, with the economy on track to remain among the world’s fastest.
The strong growth eases pressure on Vietnam’s officials to add more stimulus to meet a target of 6.7 percent economic expansion this year. Exports will remain strong because of new factories opening and rising commodity prices, the Asian Development Bank said in a report this month, as it predicted growth of more than 6 percent this year and next.