Vietnam suffers first slowdown in growth since 2012

Hanoi

VIETNAM'S economy expanded an estimated 6.21 per cent this year, slightly behind 2015 and marking the first slowdown in four years, but a fourth-quarter surge to 6.68 per cent was the best for a year, keeping it among Asia's fastest-growing economies.

Drops in agriculture and mining dragged full-year growth below last year's 6.68 per cent and the government's target of 6.3-6.5 per cent, the General Statistics Office (GSO) said on Wednesday. "2016 GDP (gross domestic product) has not reached target or had any major breakthroughs but in general the economy has had good growth except for the agriculture and mining sectors," GSO head Nguyen Bich Lam told reporters.