Hanoi - Vietnam's industrial production fell 8.6 per cent in January from the month before, media reports said Thursday, as the global economic downturn hit the country's export-dependent economy.
The drop left industrial output 4.4 per cent lower than in January 2008, according to data from the Planning and Investment Ministry.
Exports, which account for 70 per cent of Vietnam's gross domestic product (GDP), were down 24.2 per cent from the same month last year.
The sharp drop in production and exports threatened to derail the government's prediction of 5 per cent GDP growth in 2009. Vietnam's economic growth already fell from 8.5 per cent in 2007 to 6.2 per cent last year.