The World Bank (WB) forecast Vietnam’s GDP growth at 6.3 per cent in 2023 in its latest Global Economic Prospects report, released on January 10.

Compared with its previous report, released in June, the forecast is down 0.2 percentage points.

After a strong rebound in 2022, growth in Malaysia, the Philippines, and Vietnam this year is expected to be at a moderate level due to exports to major markets slowing down, the report stated.

The bank also noted that economies that depend on commodities and exports like Cambodia, Malaysia, Mongolia, and Vietnam are particularly vulnerable due to slowing export demand, including from China.