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Vietnam Q1 GDP slows as weak demand weighs on exports

Southeast Asian manufacturing hub's growth dips to 3.32% year on year

Workers at a garment factory in Hung Yen province, Vietnam. The country reported an 11.9% year-on-year fall in exports in the January-March period due to weak global demand.   © Reuters

HANOI (Reuters) -- Vietnam's economic growth slowed to 3.32% in the first quarter, against a 5.92% year-on-year expansion in the fourth quarter of 2022, government data showed on Wednesday, as exports of smartphones and electronics fell sharply.

The Southeast Asian country, a regional manufacturing hub, reported an 11.9% fall in overall exports in the January-March period from a year earlier due to weakening global demand.

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