Vietnam’s economy expanded by 7.09% in 2024 to USD476.3bn, outpacing 2023’s 5.05% growth, driven by robust exports and foreign investment, government data showed on Monday. Fourth-quarter GDP rose 7.55%, marking the fastest quarterly growth in over two years. Exports climbed 14.3% to USD405.53bn, led by electronics, smartphones, and clothing, while imports rose 16.7% to USD380.76bn, resulting in a USD24.77bn trade surplus. Foreign investment inflows increased 9.4% to USD25.35bn. The government’s push to avoid electricity shortages, including a 24.8% rise in coal imports, supported growth, with electricity output up 9.6%. Average consumer prices rose 3.63%, and industrial production grew 8.4%. Vietnam targets GDP growth of 6.5%-7.0% in 2025.