Current Account in Vietnam
Vietnam - Current AccountEarly signs from the second quarter are discouraging. In April, the manufacturing PMI fell to an all-time low amid drops in output, new orders and employment; retail sales plunged on social distancing measures; exports were down on lockdowns abroad; and visitor arrivals ground to a halt due to travel restrictions. This comes after growth slowed to an over one-decade low in Q1 due to fallout from Covid-19 and lower oil and gas output. More positively, the government has lifted restrictions on activity in recent weeks due to success in containing coronavirus: Most non-essential businesses are operating, schools are open and domestic flights have resumed. However, the 14-day mandatory quarantine for foreign visitors is still in place. These looser social distancing restrictions, coupled with fiscal and monetary support, should be beginning to aid domestic activity.
Vietnam - Current Account Data
|Current Account (% of GDP)||5.1||-1.1||0.3||-0.7||2.5|
5 years of economic forecasts for more than 30 economic indicators.
Vietnam Current Account Chart
Source: State Bank of Vietnam and FocusEconomics calculations.
|Bond Yield||3.38||-0.13 %||Dec 31|
|Exchange Rate||23,173||0.01 %||Jan 01|
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May 29, 2020
Industrial output declined 3.1% compared to the same month a year earlier in May, which was a smaller contraction than April's 9.4% decrease.
May 29, 2020
Consumer prices dropped 0.03% over the prior month in May, a smaller fall than April's 1.54% drop.
May 13, 2020
On 13 May, the State Bank of Vietnam (SBV) reduced a host of interest rates, with the refinancing rate being cut from 5.00% to 4.50%.
May 4, 2020
The IHS Markit manufacturing Purchasing Managers’ Index (PMI) registered 32.7 in April, down from 41.9 in March.
May 1, 2020
Industrial output fell a staggering 11.4% in year-on-year terms in April, which contrasted March's 5.4% increase.