Vietnam first quarter economic growth seen at 4.96 percent year on year: report

Vietnam first quarter economic growth seen at 4.96 percent year on year: report

Workers weld floating docks at a shipyard in Hai Phong, east of Hanoi February 10, 2014.

Vietnam’s economy grew an estimated 4.96 percent in the first quarter from a year ago, the fastest quarterly pace since 2011, and above a 4.76 percent rise in the same period last year, a local newspaper reported on Tuesday.

The annual growth in the January-March period compared with a 4.75 percent rate in the first quarter of 2012 and 5.9 percent in the same period in 2011, the Vietnam Economic Times newspaper cited government statistics as saying.

Vietnam’s gross domestic product growth this year is forecast to accelerate to an annual 5.8 percent, from 5.42 percent in 2013.

Reuters

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