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Economy

Vietnam economy grows nearly 7% on trade war tailwinds

Manufacturing exodus from China propels one of fastest boosts in region

Shipping containers are stacked at a port in Haiphong, northern Vietnam. Shipments to U.S. from Vietnam are on the rise as companies seek to avoid tariffs on Chinese products.   © Reuters

HANOI -- Vietnam's real gross domestic product rose 6.71% on the year in the April-June quarter, marking one of the highest growth rates among key Southeast Asian economies as it shapes up into an alternative export hub to China.

Shipments from Vietnam to the U.S. are on the rise as companies move production here from China. But the trend could widen Vietnam's trade surplus with America, possibly drawing the ire of President Donald Trump.

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