Vietnam’s GDP Expands by Double Digits in 3Q22

Vietnam’s GDP grew by double digits in the third quarter, showing strong momentum after a year of slowdown caused by a pandemic.

According to the General Statistics Office, the economy grew 13.67% in the three months ending in September compared to the same period a year earlier. This compares to a 14.35% median estimate in a Bloomberg survey of economists and a 6.02% contraction a year ago, when the country closed some factories as part of strict virus-control measures.

With the removal of the Covid-19 restrictions, the Vietnamese economy has begun to show signs of improvement, with both domestic activity and exports picking up.

Inflation in Vietnam is still one of the region’s lowest even though it accelerated this month to 3.94 percent.