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Vietnam reported economic growth for 2021 of just 2.58 per cent on Wednesday, beating a 30-year low set last year as the pandemic continues to take a toll.
The communist state has long been a success story among Asian economies, posting growth of seven percent in 2019.
But shutdowns caused by coronavirus have battered the export-reliant economy, sending GDP growth plunging to 2.91 per cent in 2020 — the lowest reported in three decades.
The General Statistics Office (GSO) in Hanoi said fourth quarter growth was at 5.22 per cent, but the annual figure was dragged down by a contraction of 6.02 per cent in the third quarter.
“The complicated situation of the Covid-19 pandemic since the end of April seriously impacted commercial and service activities… pulling down the growth of the service sector and the whole economy,” GSO said in a statement.
(TDS)
