For example, even to take Apple, I expect that its phones have become basic commodities for many countries, so they will continue to buy, whatever inflation.
The average salary in that country is still maintaining its levels.
Topic: Vietnam GDP grows 8.02% in 2022; fastest expansion in 25 years - page 2. (Read 259 times)
It seems that Vietnam was ready for the shop, as we did not hear many problems for them, and the transfer of some major companies for industries outside China has benefited from it Vietnam significantly and with good relations with the United States, we will witness steady growth for the coming years even with the shadow of contraction.
For example, even to take Apple, I expect that its phones have become basic commodities for many countries, so they will continue to buy, whatever inflation.
The average salary in that country is still maintaining its levels.
For example, even to take Apple, I expect that its phones have become basic commodities for many countries, so they will continue to buy, whatever inflation.
The average salary in that country is still maintaining its levels.
Quote
Reading higher than official growth target of 6.0%-6.5%
HANOI (Reuters) -- Vietnam's gross domestic product grew 8.02% in 2022, the fastest pace annually since 1997, backed by strong domestic retail sales and exports.
The reading is higher than an official growth target of 6.0%-6.5% and growth last year of just 2.58%, when COVID lockdowns left a dent on the economy and impacted factory activity.
The high annual growth number comes despite fears of a global recession and its impact on demand for exports from Vietnam, a key manufacturer of goods like textiles, footwear and electronics for big-name international brands.
"The economic performance is worth noting amid global economic and political uncertainty and challenges," the General Statistics Office (GSO) said in a report.
GDP growth in the fourth quarter was 5.92%, slowing from an expansion of 13.71% in the third quarter, the GSO said.
Exports in 2022 were up 10.6% to $371.85 billion, while retail sales rose 19.8%, the GSO said.
Consumer prices in December rose 4.55% from a year earlier, it added.
https://asia.nikkei.com/Economy/Vietnam-GDP-grows-8.02-in-2022-fastest-expansion-in-25-years
HANOI (Reuters) -- Vietnam's gross domestic product grew 8.02% in 2022, the fastest pace annually since 1997, backed by strong domestic retail sales and exports.
The reading is higher than an official growth target of 6.0%-6.5% and growth last year of just 2.58%, when COVID lockdowns left a dent on the economy and impacted factory activity.
The high annual growth number comes despite fears of a global recession and its impact on demand for exports from Vietnam, a key manufacturer of goods like textiles, footwear and electronics for big-name international brands.
"The economic performance is worth noting amid global economic and political uncertainty and challenges," the General Statistics Office (GSO) said in a report.
GDP growth in the fourth quarter was 5.92%, slowing from an expansion of 13.71% in the third quarter, the GSO said.
Exports in 2022 were up 10.6% to $371.85 billion, while retail sales rose 19.8%, the GSO said.
Consumer prices in December rose 4.55% from a year earlier, it added.
https://asia.nikkei.com/Economy/Vietnam-GDP-grows-8.02-in-2022-fastest-expansion-in-25-years
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A rare good news, cool story bro, headline. Vietnam with 8.02% GDP growth. That is quite the accomplishment considering other major powers of the world brag if they manage to achieve 1% economic growth.
It appears economies of some nations are exhibiting high positive growth. Bucking the trend of economic contraction which is plaguing most developed nations, presently.
The trend here appears to be importers searching for manufacturing and production alternatives to china. With vietnam emerging as one popular option. If china is indeed on a decline. It might imply that a vacuum will exist in the future for manufacturing and production sectors.
Can high economic growth stave off negative circumstances of high inflation and global financial contagion? How do people see this playing out over the long term?
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