Vietnam pulls off Asia's fastest growth as economy powers on | The Business Standard
Skip to main content
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
The Business Standard

Sunday
June 15, 2025

Sign In
Subscribe
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
SUNDAY, JUNE 15, 2025
Vietnam pulls off Asia's fastest growth as economy powers on

Global Economy

TBS Report
29 December, 2022, 05:25 pm
Last modified: 29 December, 2022, 10:40 pm

Related News

  • Govt plans incentives for Bangladeshis bringing in foreign investment
  • Govt to set up Debt Office as loan burden to hit Tk29 lakh cr by FY28
  • Far from the madding crowd: 6 lesser-known islands to visit in Southeast Asia
  • Vietnamese say no to more kids after two-child limit scrapped
  • Economy to remain in operation during Eid vacation: Adviser Salehuddin

Vietnam pulls off Asia's fastest growth as economy powers on

TBS Report
29 December, 2022, 05:25 pm
Last modified: 29 December, 2022, 10:40 pm
People dine on Ta Hien Street in Hanoi, Vietnam.Photographer: Maika Elan/Bloomberg
People dine on Ta Hien Street in Hanoi, Vietnam.Photographer: Maika Elan/Bloomberg

The economy of Vietnam grew at the fastest pace in Asia in 2022, with an 8.02% growth recorded, according to a Bloomberg report.

The gross domestic product growth rate was faster than the government's initial target of 6%-6.5% growth and was aided by a quicker-than-expected 5.92% expansion in the final quarter.

The industrial and construction sectors grew 7.78% in 2022, while the services sector expanded 9.99% and the agricultural sector grew 3.36%, Reuters reported, citing the General Statistics Office (GSO) report.

The Business Standard Google News Keep updated, follow The Business Standard's Google news channel

Exports in 2022 were up 10.6% to $371.85 billion, while retail sales rose 19.8%, the GSO said, and consumer prices in December rose 4.55% from a year earlier.

Vietnam's central bank may now take its time before deciding to change its monetary policy away from tightening thanks to the better-than-expected performance.

Although the authorities increased the benchmark rate by 200 basis points in two steps this year, to 6%, there is cause for concern about a growth slowdown like to what happened in China due to potential debt default in Vietnam's property industry.

Vietnam's Economy Posts Asia's Fastest Expansion

GDP Growth in %

Infograph: TBS
Infograph: TBS

While Vietnam "is performing well amid uncertainties in the global economy, risks to the economic outlook have become elevated," the Asian Development Bank said in a statement on 14 December.

"Though trade continues to expand, signs show weakening global demand for the country's exports," it said.

Exports decreased 14% year-over-year to $29.66 billion in December, while imports dropped 8.1% to $29.16 billion. As enterprises reduce their purchases of production materials and equipment, a fall in imports may predict a future contraction in industrial output.

GDP growth in the fourth quarter was 5.92%, slowing from a growth of 13.71% in the third quarter, the GSO said. Third quarter growth was revised up from 13.67%.

Foreign direct investment (FDI) into Vietnam, one of the country's key economic driver, rose 13.5% this year to $22.4 billion, according to the government. But FDI pledges, which indicates future inflows, dropped 11% in the year to $27.72 billion.

Vietnam is targeting GDP growth of 6.5% and inflation at 4.5% for next year.

Top News / World+Biz

Vietnam / Economy / growth rate

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • People watch from a bridge as flames from an Israeli attack rise from Sharan Oil depot, following Israeli strikes on Iran, in Tehran, Iran, June 15, 2025. Majid Asgaripour/WANA (West Asia News Agency) via REUTERS
    Iran says it will stop 'self-defence response' if Israel halts attacks
  • Representational image. Photo: Mehedi Hasan/TBS
    DSE index rises, but turnover remains low
  • The moment before Abu Sayeed was shot during a clash between police and protesters in front of Begum Rokeya University in Rangpur on Tuesday, 16 July 2024. Screengrab from video
    ICT extends deadline for Abu Sayed murder probe by one month

MOST VIEWED

  • Tour operator Borsha Islam. Photo: Collected
    ‘Tour Expert’ admin Borsha Islam arrested over Bandarban tourist deaths
  • Fighter jet. Photo: AFP
    3 F-35 fighter jets downed, two Israeli pilots in custody, claims Iranian media
  • Infographic: TBS
    Chattogram Port proposes 70%-100% tariff hike
  • Vehicles were seen stuck on the Dhaka-Tangail-Jamuna Bridge highway due to a traffic jam stretching 15 kilometres on 14 June 2025. Photo: TBS
    15km traffic jam on Dhaka-Tangail-Jamuna Bridge highway as post-Eid rush continues
  • Ahsan H Mansur. TBS sketch
    BB governor meets global litigation funders to mobilise $100m for tracing stolen assets
  • Burnt out cars and damaged buildings are all that’s left of this street in Ramat Gan Credit: AP
    Iran threatens to strike US, UK, and French bases if they help defend Israel

Related News

  • Govt plans incentives for Bangladeshis bringing in foreign investment
  • Govt to set up Debt Office as loan burden to hit Tk29 lakh cr by FY28
  • Far from the madding crowd: 6 lesser-known islands to visit in Southeast Asia
  • Vietnamese say no to more kids after two-child limit scrapped
  • Economy to remain in operation during Eid vacation: Adviser Salehuddin

Features

Photos: Collected

Kurtis that make a great office wear

1d | Mode
Among pet birds in the country, lovebirds are the most common, and they are also the most numerous in the haat. Photo: Junayet Rashel

Where feathers meet fortune: How a small pigeon stall became Dhaka’s premiere bird market

3d | Panorama
Illustration: Duniya Jahan/ TBS

Forget Katy Perry, here’s Bangladesh’s Ruthba Yasmin shooting for the moon

4d | Features
File photo of Eid holidaymakers returning to the capital from their country homes/Rajib Dhar

Dhaka: The city we never want to return to, but always do

6d | Features

More Videos from TBS

Iran-Israel conflict heats up at G7 summit

Iran-Israel conflict heats up at G7 summit

1h | TBS World
Is Regime Change in Iran Israel's Goal?

Is Regime Change in Iran Israel's Goal?

1h | TBS World
Ishraque seeks chief adviser's intervention for oath as Dhaka South mayor

Ishraque seeks chief adviser's intervention for oath as Dhaka South mayor

3h | TBS Today
Israel asked US to join military campaign against Iran, but US rejects request

Israel asked US to join military campaign against Iran, but US rejects request

3h | TBS World
EMAIL US
contact@tbsnews.net
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Advertisement
  • Privacy Policy
  • Comment Policy
Copyright © 2025
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net