Vietnam has the best economic growth in Asia

This year, Vietnam’s GDP grew by 8.02 percent. 

Initially, a 6-6.5 percent GDP growth objective was set by the Vietnamese government.

Vietnam’s economy is expected to develop at the quickest rate in Asia in 2022. 

The country will benefit from this before predictions of a worldwide recession come to pass. 

According to official figures made available on Thursday, Vietnam’s gross domestic product (GDP) growth hit 8.02 percent this year (Dec 29). 

Initially, a 6-6.5 percent GDP growth objective was set by the Vietnamese government. 

The GDP growth rate for the nation surpassed that goal.

The manufacturing industry was the primary engine of Vietnam’s economic growth this year, according to Nguyen Thi Huong, head of the country’s General Statistics Office. The country’s growth in this industry in 2022 was 8.2%.

In addition to this, he claimed that the robust development of the service sector had contributed to growth.

However, the Asian Progress Bank (ADB) stated in a statement on December 14 that while Vietnam is performing well during this time of economic uncertainty in the world, there are still certain dangers associated with the country’s economic development. Since there are indications that the global demand for Vietnam’s export goods is declining despite the country’s expanding commerce.

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