Publication:
Vietnam Macro Monitoring, May 2024

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dc.contributor.authorWorld Bank
dc.date.accessioned2024-07-09T18:24:56Z
dc.date.available2024-07-09T18:24:56Z
dc.date.issued2024-07-09
dc.description.abstractIndustrial production showed a significant increase, with the Index of Industrial Production (IIP) growing by 2.6 percent month-on-month (m/m) and 8.9 percent year-on-year (y/y), attributed to improved exports, particularly in manufacturing sectors. Retail sales experienced a modest recovery, growth rate indicated that consumer demand remains relatively weak. Both exports and imports experienced a surge, with exports and imports growing. The y/y growth rates were also substantial, suggesting increased demand from trade partners. Foreign Direct Investment (FDI) commitments and disbursements were solid, with the majority of FDI flowing into manufacturing and real estate sectors. Inflation rates remained stable, with the Consumer Price Index (CPI) inflation at 4.4 percent y/y and core inflation slightly moderating. The Vietnamese Dong (VND) continued to face depreciation pressure against the US Dollar (USD), and the interbank interest rates reflected a tightening of liquidity by the State Bank of Vietnam (SBV). Public revenue collection improved, but public expenditures and investment disbursements showed a slower pace. The government and SBV proposed measures to support the economy, including extending VAT reduction, reducing lending interest rates, and advancing the implementation of revised real estate laws. The report also notes that while there is a recovery in external demand, domestic demand and consumption show mixed signs. The authorities' measures aim to support the economy, but there are concerns about the impact of a strong US dollar and interest rate reductions on the exchange rate. The recommendation is to continue supporting aggregate demand through capital expenditures.en
dc.identifierhttp://documents.worldbank.org/curated/en/099548406182415249/IDU13c835a7313b9014c5b1abf611466d354623e
dc.identifier.doi10.1596/41841
dc.identifier.urihttps://hdl.handle.net/10986/41841
dc.languageEnglish
dc.language.isoen_US
dc.publisherWashington, DC: World Bank
dc.rightsCC BY-NC 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttps://creativecommons.org/licenses/by-nc/3.0/igo
dc.subjectINDUSTRIAL CLUSTERS AND VALUE CHAINS
dc.subjectMACROECONOMIC IMBALANCES AND ADJUSTMENTS
dc.subjectMACROECONOMIC MONITORING
dc.subjectMACROECONOMIC ANALYSIS OF ECONOMIC DEVELOPMENT
dc.subjectINDUSTRIAL POLICIES
dc.subjectDECENT WORK AND ECONOMIC GROWTH
dc.subjectSDG 8
dc.subjectINDUSTRY, INNOVATION AND INFRASTRUCTURE
dc.subjectSDG 9
dc.titleVietnam Macro Monitoring, May 2024en
dc.typeBrief
dspace.entity.typePublication
okr.crossref.titleVietnam Macro Monitoring
okr.date.disclosure2024-07-09
okr.date.doiregistration2025-04-07T08:32:33.321025Z
okr.date.doiregistration2025-04-08T16:15:15.223003Z
okr.date.doiregistration2025-04-09T02:47:33.233902Z
okr.date.lastmodified2024-06-18T00:00:00Zen
okr.doctypeBrief
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/099548406182415249/IDU13c835a7313b9014c5b1abf611466d354623e
okr.guid099548406182415249
okr.identifier.docmidIDU-3c835a73-3b90-4c5b-abf6-1466d354623e
okr.identifier.doihttps://doi.org/10.1596/41841
okr.identifier.externaldocumentum34343060
okr.identifier.internaldocumentum34343060
okr.identifier.report191411
okr.import.id4734
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/099548406182415249/pdf/IDU13c835a7313b9014c5b1abf611466d354623e.pdfen
okr.region.administrativeEast Asia and Pacific
okr.region.countryViet Nam
okr.topicIndustry::General Manufacturing
okr.topicInternational Economics and Trade::Foreign Direct Investment
okr.topicMacroeconomics and Economic Growth::Economic Growth
okr.unitEAP External Affairs (ECREA)
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