Singapore’s straitstimes.com commented that Vietnam’s economy grew at the fastest pace in Asia this year. The US’s CNN called it the fastest growth rate since 1997 while the UK’s BBC stressed that it was the highest growth posted from 2011-2022, the main driver of which was the export sector and strong retail sales.

The figure was released amid concerns about the global economic slowdown and its impact on export demand from Vietnam, a major producer of apparel, footwear and electronics for major international brands.

Russia’s Sputnik news agency said that thanks to this miraculous economic growth, low inflation, booming imports-exports, political stability and brilliant diplomatic successes, Vietnam had emerged as one of the rare spotlights in the gloomy landscape of recession and crisis covering the world.

Bloomberg said Vietnam’s economy grew faster than expected this year, signaling momentum towards a recovery following the COVID pandemic. In 2022, Vietnam had a trade surplus of 11.2 billion USD, higher than the 3.32 billion USD recorded in the previous year.