Vietnam's economic growth accelerated as exports climbed, even as banks struggled to meet the government's lending target. Stocks rose. Gross domestic product rose 6.04 percent in the fourth quarter from a year earlier, quickening from a 5.54-percent gain in the three months through September, according to data released by the General Statistics Office in Hanoi . For the full year, the economy grew 5.42 percent, faster than a 5.25 percent pace in 2012 and the median estimate of 5.3 percent, WSJ wrote. Manufacturers from Samsung Electronics Co. to Nokia Oyj have boosted Vietnam's exports, which grew 15.4 percent this year from a year earlier. That has helped offset faltering bank lending, as the government takes steps to resolve bad debt and overhaul the financial system. "The economy is steadily recovering," said Fiachra MacCana, managing director of Ho Chi Minh City Securities Corp. "Exports are still the main driver, especially for Vietnam's manufacturing industries, but there's a little bit of domestic backup there. It's a broad-based recovery." Vietnam's growth is being supported by exports and foreign investment, the International Monetary Fund said this month. The country's exports-to-GDP ratio increased to 75 percent last year from 56 percent in 2009, according to IMF data. Vietnam GDP rises 5.42% in 2013
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