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Economy

Vietnam real GDP growth slows to 2.58% in 2021 as pandemic drags

Exports remain solid, but consumer spending drops

Passengers wearing protective masks wait to board a flight in Vietnam in October. The country's government must balance fighting the coronavirus with trying to get the economy back on track.   © AP

HANOI -- Growth in Vietnam's real gross domestic product slowed to 2.58% in 2021, government data showed on Wednesday, dropping from 2.91% the year before as the coronavirus pandemic casts a long shadow over one of Southeast Asia's key economies.

The numbers from the General Statistics Office of Vietnam confirm the country has fallen well short of its 6.5% growth target for the year, with consumer spending declining sharply amid prolonged COVID-19 curbs on movement even as exports remained solid.

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