Vietnam Economic Outlook
December 13, 2019
The economy likely lost some steam in the fourth quarter, following a stellar third quarter. Industrial production growth slowed sharply in November, while exports were subdued in October and November on weak shipments of coffee and phones. In addition, African swine fever continued to decimate pig herd numbers, which will have hurt the agricultural sector. However, economic momentum should have been healthy nonetheless, particularly compared to regional peers; tourist arrivals and retail sales surged in the first two months of Q4, boding well for the service sector. In November, the government approved hiking the minimum wage by over 5% for 2020, which should support private consumption next year without seriously threatening the country’s status as an attractive base for low-cost manufacturing.Vietnam Economic Growth
The economy is set to remain one of ASEAN’s top performers in 2020 thanks to healthy gains in industrial production, private consumption and exports. However, global trade tensions, possible U.S. tariffs in response to Vietnam’s soaring trade surplus and domestic banking fragilities pose risks to the outlook. FocusEconomics panelists project the economy will expand 6.6% in 2020, which is up 0.1 percentage points from last month’s forecast, and 6.5% in 2021.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
Vietnam: Manufacturing PMI dips in December but stays in expansionary territory
January 2, 2020
According to data released by IHS Markit, the manufacturing Purchasing Managers’ Index (PMI) registered 50.8 in December, marginally below November’s 51.0 reading.
Vietnam: Inflation soars in December amid higher pork prices
December 29, 2019
According to the General Statistics Office of Vietnam, consumer prices rose 1.40% in December over the prior month, up from November’s 0.96% rise.
Vietnam: Industrial production growth picks up in December
December 29, 2019
Industrial production rose 6.2% in December year-on-year, up slightly from November’s revised 5.5% expansion (previously reported: +5.4% in November year-on-year).
Vietnam: Growth slows slightly in Q4 but remains rapid
December 29, 2019
The economy grew 7.0% in the fourth quarter of 2019, down from Q3’s revised 7.5% expansion (previously reported: +7.3% year-on-year).
Vietnam: Manufacturing PMI rises in November as output growth returns
December 2, 2019
According to data released by IHS Markit, the manufacturing Purchasing Managers’ Index (PMI) rose to 51.0 in November from 50.0 in October.
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