HANOI :Vietnam’s government said on Sunday its economy grew at an annual rate of 8.22 per cent in the third quarter, when a 20 per cent tariff on U.S. imports of its products took effect, accelerating from growth of 7.96 per cent in the second quarter.
“It is the highest quarterly growth since 2011, excluding the surge in 2022 due to recovery post COVID-19 pandemic,” the government statement said, citing Finance Minister Nguyen Van Thang.
The third quarter was also marked by severe weather disruptions, with eight storms hitting the country, including Typhoon Bualoi, which caused an estimated 16.5 trillion dong ($625.5 million) in damage.
Over the first nine months of the year, GDP grew 7.84 per cent compared to the same period in 2024, according to the government.
Vietnam is targeting gross domestic product growth of 8.3 per cent-8.5 per cent this year. That is faster than last year’s 7.09 per cent growth, and higher than World Bank’s forecast of 6.6 per cent and the International Monetary Fund’s estimate of 6.5 per cent growth.
Consumer prices rose 3.27 per cent year-on-year in the January–September period, with September inflation at 3.38 per cent, the statement said.
The National Statistics Office is expected to release a full set of economic data, including trade figures, on Monday.
($1 = 26,380.0000 dong)
