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Global recession

Vietnam’s woes

Vietnam’s GDP growth of 3.3 per cent in the first three months of 2023 has taken economists by surprise. The figure is far below forecasts and marks a reversal for what was till recently Asia’s fastest-growing economy. While a drop in exports weighed on growth, a simultaneous dip in imports, which are used mainly to make products for export, indicates producers are not optimistic about a nearterm recovery.