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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.

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