Current Account in Vietnam

Vietnam Current Account | Economic News & Forecasts

Vietnam - Current Account

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 - Current Account Data

2013  2014  2015  2016  2017  
Current Account (% of GDP)4.6  5.1  0.5  4.2  2.8  

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Vietnam Current Account Chart

Vietnam Current Account
Note: Current account balance as % of GDP.
Source: State Bank of Vietnam and FocusEconomics calculations.

Vietnam Facts

Bond Yield3.38-0.13 %Dec 31
Exchange Rate23,1730.01 %Jan 01

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