Vietnam’s Economic Growth in Q3

HANOI (Reuters) – Vietnam’s gross domestic product (GDP) grew 7.4% year-on-year in the third quarter, driven by strong exports and industrial production, according to government data released on Sunday.

Consumer prices in September increased 2.63% from a year earlier, as reported by the General Statistics Office. Industrial production saw a rise of 10.8%, while retail sales grew by 7.6%.

The GDP for the third quarter marked the highest quarterly expansion in two years, despite the challenges posed by Typhoon Yagi that affected the country last month.

In September, exports rose by 10.7% from the previous year, reaching $34.05 billion, while imports increased 11.1%, totaling $31.76 billion. Consequently, Vietnam recorded a trade surplus of $2.29 billion.