HANOI- Vietnam’s economy expanded 7.09 percent last year to $476.3 billion, faster than the 5.05 percent expansion in 2023, driven by strong exports and robust foreign investment inflows, government data showed on Monday.
Gross domestic product grew 7.55 percent in the fourth quarter, the fastest quarterly growth in more than two years, the General Statistics Office said in a report.
The Southeast Asian country, a regional manufacturing hub, has benefited from a recovery in global consumption despite being badly affected by Asia’s strongest typhoon last year.
“This is a positive result amid difficulties including natural disasters and is a good foundation for 2025 growth,” Nguyen Thi Huong, head of the GSO, said at a press conference after the report was released.
Exports in 2024 grew 14.3 percent from a year earlier to $405.53 billion, led by shipments of electronics, smartphones, clothing and farm produce, the report said.
Imports grew 16.7 percent to $380.76 billion in 2024, resulting in a trade surplus of $24.77 billion.
