AHK Vietnam, the German Industry and Commerce in Vietnam, has issued a statement to celebrate growth of 8% in the Asian country’s gross domestic product in 2022.

Exports rose by 10.6% to reach more than $370 billion, while imports into Vietnam grew by 8.4% to reach $360.6 billion.

According to AHK, this was the highest growth of any Asian country last year and it said this had come despite fears of a global economic downturn and the impact of this on demand for exports of key products from Vietnam, including footwear.

It said German companies invested more than $20 billion in Vietnam in 2022, an increase of 13.5%. A total of 32 new German investment projects were announced last year with a total registered value of $58.5 million.

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