Vietnam's Q3 GDP growth accelerates to 5.33%

Tourism recovers, but growth still below pre-COVID levels

Tourists walk along a street in the ancient town of Hoi An. Recovery in the tourism industry helped boost Vietnam's economy in the July-September quarter. (Photo by Yuji Nitta)

YUJI NITTA, Nikkei staff writer

September 29, 2023 11:12 JST

Updated on September 29, 2023 15:26 JST

HANOI -- The Vietnamese economy grew 5.33% in the July-September period from a year earlier, according to data released by the country's General Statistics Office on Friday, accelerating from the previous quarter thanks to the recovery in tourism.

However, it is still below the 6% to 7% expansion recorded before the COVID-19 pandemic, suggesting that the government's target of 6.5% annual growth this year will likely be missed.