ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Economy

Vietnam's GDP shrinks 6.17% in Q3, hurt by pandemic lockdowns

With negative growth, annual target of 6.5% looks out of reach

People receive COVID-19 tests on the street in Ho Chi Minh City. (Photo by Nguyen Doc Lap)

HANOI -- Vietnam's gross domestic product dropped 6.17% on the year for the July-September period, as stringent lockdowns in key areas including the economic engine of Ho Chi Minh City led to the first decline since 2000 on a quarterly basis.

The economy slid into negative territory during the third quarter after 6.57% growth in the previous three months, the country's General Statistics Office said Wednesday. Vietnam's economy grew 2.69% in the third quarter a year ago. The office revised downward the second-quarter figure from 6.61% on Wednesday.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more