Vietnam economy grows 7.4pc in Q3

HANOI, Oct 06 (AFP): Vietnam's economy grew by 7.4 per cent in the third quarter, government figures showed Sunday, despite severe economic damage caused by deadly Typhoon Yagi.

Vietnam suffered $3.3 billion in economic losses as a result of Yagi which swept across the country's north, causing devastating flooding and 345 deaths.

The growth rate was the result of "adapting effectively to the fluctuations of the global economy and addressing the severe consequences of natural disasters", the General Statistics Office (GSO) said in a statement.

The agriculture, forestry and the fishery sector was particularly affected by Yagi, the GSO said.

But exports were up 15.8 per cent compared to the same period last year.

The Vietnamese government is aiming to reach an economic growth rate of 6.8 to 7 per cent for 2024.