VNExpress-Dec 11
Vietnam’s economy experienced a bumpy year with major stumbling blocks in the stock, property and corporate bond markets. However, it is expected to end 2022 on a high note thanks to surges in the trade surplus and foreign investment. Despite several economic challenges, Vietnam’s GDP growth is forecast to reach 8% this year, the highest among major countries in the Asia Pacific region. Vietnam’s economy expanded by 8.83% in the first nine months of the year, the largest increase for the 2011-2022 period, thanks to a 13.67% surge in the third quarter. The services sector grew at nearly 10.57% during this period, accounting for over half the overall growth. Industry and construction grew by over 9.44% to account for most of the remaining growth. Agriculture, forestry and aquaculture expanded by 2.99%. The government predicts growth will reach 8% for the whole year, while lender HSBC pegged the country’s growth at 7.6% and the World Bank at 7.2%. The economy showed positive recovery in many aspects in the first nine months, with 14 out of 15 targets achieved or even exceeded, Prime Minister Pham Minh Chinh said in October. A surge in exports in the first half of the year helped Vietnam record a trade surplus of $10.6 billion in the first 11 months, against $0.6 billion for the same period last year. A recovery in trade activity after two years of pandemic boosted exports, with the 35 biggest trade categories exceeding $1 billion. Among them, 10 exceeded $10 billion. The U.S. remained the biggest export market at $101.5 billion, up 18% year-on-year, while China was the biggest import market at nearly $109 billion, for an increase of 9%. The country welcomed investors from 107 countries and territories, led by Singapore with an investment of $5.78 billion, which accounted for 23% of the total. It was followed by Japan, South Korea, and China. Read more at: https://e.vnexpress.net/news/economy/economic-themes-that-will-define-vietnam-in-2022-4546599.html
