Vietnam's Q3 GDP Growth Hits 7.4%, Highest in 2 Years Despite Typhoon Impact

Oct 6, 2024, 06:10 AM

Vietnam's economy grew by 7.4% in the third quarter of 2024, marking the highest growth in two years. This robust performance was driven by strong exports and industrial production, despite the significant impact of Typhoon Yagi, which caused $3.3 billion in economic losses. The Vietnamese government aims to achieve an economic growth rate of 6.8-7% for the year 2024. The unexpected acceleration in growth highlights the resilience of Vietnam's supply-chain powerhouse and its ability to recover swiftly from natural disasters.