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The Independent UK
The Independent UK
National
Via AP news wire

Vietnam economy slows on rising costs, weaker exports

Copyright 2021 The Associated Press. All rights reserved.

Vietnam's economy slowed sharply in the first quarter of this year, with growth coming in at a much weaker than expected 3.3%, as its exporters were hit by rising costs and weaker demand, the General Statistics Office reported Wednesday.

The slowdown in the January-March quarter from 5.9% year-on-year growth in the last quarter of 2022 was nearly as severe as that during the beginning of the pandemic and the second lowest for the first quarter in 12 years, it said.

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