SINGAPORE (ICIS)--Vietnam's economy expanded by 5.22% year on year in the fourth quarter of this year, reversing the 6.02% contraction in July-September, supported by growth in the industry and construction segment, official data showed on Wednesday.
The industry and construction sector expanded by 5.61% year on year in the fourth quarter while services grew by 5.42%, the General Statistics Office said in a statement.
For the whole of 2021, Vietnam's economy expanded by 2.58%, slowing down from the 2.91% expansion last year.
The country's manufacturing sector expanded by 6.37% year on year in 2021, with the automobile segment growing by 9.1%.
Overall exports rose by 19% year on year to $336.3bn in 2021, while imports were up by 26.5%.
This resulted in a trade surplus of $4bn this year, down sharply from the $19.1bn in 2020.