
Vietnam Economic Outlook
June 21, 2022
In Q2, the economy likely maintained most of Q1’s momentum. Industrial activity continued improving in April–May in annual terms. In particular, manufacturing growth soared to a 13-month high in May: Looser pandemic restrictions, growth in new orders and higher staffing levels more than offset supply shocks due to the war in Ukraine and lockdowns in China. Retail sales growth in April–May also rebounded from Q1’s contraction. Retail sales were likely boosted by the removal of Covid-19 restrictions and an invigorated tourism sector, with international arrivals skyrocketing 1,184% in annual terms in May. In other news, Deputy Prime Minister Le Van Thanh said in late May that growth may undershoot the government’s 6.0–6.5% target this year, due to an expected slowdown in global demand and the government’s reluctance to boost expenditure.Vietnam Economic Growth
This year, the economy should grow at the second-highest rate in the region and notably faster than in 2021. The release of pent-up consumer and capital spending will fuel activity, aided by the external sector and the government’s post-Covid-19 recovery and development program. That said, elevated commodity prices and further lockdowns in China cloud the outlook. Our panelists expect GDP to expand 6.7% in 2022, which is unchanged from last month’s forecast, and 6.9% in 2023.Vietnam Economy Data
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Vietnam Facts
Value | Change | Date | |
---|---|---|---|
Bond Yield | 3.38 | -0.13 % | Dec 31 |
Exchange Rate | 23,173 | 0.01 % | Jan 01 |
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Vietnam Economic News
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Vietnam: Inflation comes in at highest level since May 2021 in May
May 29, 2022
Consumer prices increased 0.38% over the previous month in May, picking up from April's 0.18% rise.
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Vietnam: Industrial output posts quickest growth since April 2021 in May
May 29, 2022
Industrial production increased 20.9% year-on-year in May (April: +18.6% yoy).
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Vietnam: Inflation comes in at highest level since August 2021 in April
April 29, 2022
Consumer prices increased 0.18% in April over the previous month, which was below March's 0.70% rise.
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Vietnam: Industrial output growth improves in April
April 29, 2022
Industrial output rose 18.0% compared to the same month a year earlier in April, which was above March's 15.2% increase.
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Vietnam: Industrial output in March records quickest growth since April 2021
March 30, 2022
Industrial output increased 21.1% in year-on-year terms in March, which was above February's 18.2% increase.