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Updated December 29th, 2023 at 16:43 IST

Vietnam's 2023 GDP records growth of 5.05%

Vietnam experienced a modest increase of 1.5 per cent in the industrial production index for the year 2023.

Business Desk
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Vietnamese flag | Image:Unsplash
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Vietnam’s 2023 gross domestic product (GDP) grew 5.05 per cent, according to government data released on Friday. 

However, this fell short of the government's initial target of 6.5 per cent and the previous year's remarkable economic growth of 8.02 per cent. 

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The General Statistics Office (GSO) reported a 4.4 per cent decline in exports compared to the previous year.

Vietnam experienced a modest increase of 1.5 per cent in the industrial production index for the year 2023. 

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Concurrently, average consumer prices exhibited a rise of 3.25 per cent, as reported by the GSO. These figures collectively reflect the economic landscape and performance of Vietnam over the course of the past year.

(With Reuters Inputs)

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Published December 29th, 2023 at 07:57 IST

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