Vietnam’s economic growth slowed this year to its weakest in at least three decades, buffeted by the COVID-19 pandemic, natural disasters and a sluggish global economy, government data showed on Sunday.
The economy expanded 2.91% this year after having posted gross domestic product growth above 7% for two consecutive years, the General Statistics Office (GSO) said in a statement. The country likely posted a trade surplus of $19.06 billion in the year the GSO said. Average consumer prices rose 3.23%.
“This is the lowest GDP growth level in decades. However, amid the negative impacts of the COVID-19 pandemic, it is considered a success for Vietnam, with the growth rate among the world’s highest,” the GSO said. “We’ve successfully battled against the virus but at the same time kept our economy open. The pandemic is more or less under control in Vietnam.”
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