Vietnam's economy grew to 5.5% in Q3

Thanks to improving exports.

According to BBVA Research, Vietnam's Q3 GDP growth accelerates on improving exports.

The country's GDP growth picked up to 5.5% y/y from 5.0% in Q2, as rising exports offset weak domestic demand.

Here's more:

Exports increased 16% y/y in the first nine months of the year, and FDI commitments rose by 20% y/y (first eight months); in contrast, the domestic sector is weak, underscored by an indebted SOE sector and a poor asset quality, with a bank NPL ratio of 15%. We expect Vietnam's growth to register 5.2% for full-year 2013.

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