Vietnam economic growth accelerates

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Vietnam economyVietnam’s GDP rose 6.04 per cent in the fourth quarter of 2013 from a year earlier, quickening from a 5.54 per cent gain in the three months through September, according to data released by the General Statistics Office in Hanoi on December 23, Bloomberg reported.

For the full year of 2013, the country’s economy grew 5.42 per cent, faster than a 5.25 per cent pace in 2012.

Manufacturers from Samsung Electronics to Nokia have boosted Vietnam’s exports, which grew 15.4 per cent this year from a year earlier. That has helped offset faltering bank lending, as the government takes steps to resolve bad debt and overhaul the financial system.

The benchmark VN Index has gained more than 22 per cent in 2013, the biggest advance among major Southeast Asian indexes.

The inflation rate stood at 6 per cent in December 2013, the lowest level in the past 10 years, the government said.

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Reading Time: 1 minute

Vietnam’s GDP rose 6.04 per cent in the fourth quarter of 2013 from a year earlier, quickening from a 5.54 per cent gain in the three months through September, according to data released by the General Statistics Office in Hanoi on December 23, Bloomberg reported.

Reading Time: 1 minute

Vietnam economyVietnam’s GDP rose 6.04 per cent in the fourth quarter of 2013 from a year earlier, quickening from a 5.54 per cent gain in the three months through September, according to data released by the General Statistics Office in Hanoi on December 23, Bloomberg reported.

For the full year of 2013, the country’s economy grew 5.42 per cent, faster than a 5.25 per cent pace in 2012.

Manufacturers from Samsung Electronics to Nokia have boosted Vietnam’s exports, which grew 15.4 per cent this year from a year earlier. That has helped offset faltering bank lending, as the government takes steps to resolve bad debt and overhaul the financial system.

The benchmark VN Index has gained more than 22 per cent in 2013, the biggest advance among major Southeast Asian indexes.

The inflation rate stood at 6 per cent in December 2013, the lowest level in the past 10 years, the government said.

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