Vietnam's economic growth slows to 6.4 pct year on year in Q3 2016

By Reuters/Ho Binh Minh   September 29, 2016 | 05:35 pm GMT+7
Vietnam's economic growth slows to 6.4 pct year on year in Q3 2016
Photo by Reuters

It's the fastest pace since the last quarter of 2015.

Vietnam's economy grew an annual 6.4 percent in the third quarter, the fastest pace since the last quarter of 2015 but below the 6.87 percent pace clocked in the same period last year, the government said in estimates released on Thursday.

In the nine months to September 30, the Southeast Asian nation's economy expanded 5.93 percent, the General Statistics Office said in its report.

The office revised up economic growth for the January-September period of 2015 to 6.53 percent, from 6.5 percent in its earlier estimate.

Adverse weather, including drought in the Central Highlands coffee belt and salination in the Mekong Delta food basket, have affected industrial and agricultural productions as well as Vietnam's export and import sectors.

Vietnam's economy expanded 6.68 percent in 2015, the fastest pace since 2007 and extending growth momentum that started in 2012, when it had slipped to 5.25 percent from 6.24 percent the previous year.

The government has projected economic growth of 6.7 percent this year.

Related news:

> Vietnam battles to hit 6.7 pct growth goal

> ADB lowers Vietnam's growth forecast to 6 percent

 
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