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Economy

Solid exports and consumer spending lift Vietnam GDP 7.72% in Q2

Post-COVID recovery is strong but could be hit by rising crude oil prices

People wait for gas in Hanoi on June 19. The recent surge in global energy prices will weigh on Vietnam's economy in the near future, as the country is a net importer of oil.   © AP

HANOI -- Vietnam's gross domestic product grew 7.72% in the April-June quarter compared with the same period last year, the country's General Statistics Office said on Wednesday, as exports to the U.S. remain high and personal spending is recovering due to fewer COVID-19 restrictions.

Growth in the second quarter accelerated from the previous quarter's 5.05% increase. The statistics office raised the country's growth for the first quarter of this year by 0.02% from its previous announcement.

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