Publication: Vietnam Macro Monitoring, October 2024
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2024-12-23
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2024-12-23
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Gross domestic products (GDP) growth registered 7.4 percent (y/y) in Q3-2024 at Viet Nam, its highest in two years, driven by non-tech exports and the ongoing domestic demand recovery. Typhoon Yagi hit northern Viet Nam in September, leading to significant economic damages of US 3.2 billion (0.7 percent of GDP). Agricultural production was the hardest-hit sector, accounting for 38 percent of the total economic losses. FDI investments expanded robustly, totaling US$ 24.6 billion in the last 12 months, an 8.3 percent increase compared to a year earlier. Inflation continued to moderate, registering 2.6 percent (y/y) in September 2024, from 3.5 percent in August 2024, as transport prices declined, food inflation remained stable and core inflation decelerated to 2.5 percent (y/y). Slow budget disbursement continues to remain a concern, with 59.3 percent of the public expenditure plan disbursed in the first nine months of 2024 (slightly below the disbursement rate of 59.7 percent at the same period last year), including 47.3 percent of public investments executed.
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“World Bank. 2024. Vietnam Macro Monitoring, October 2024. © World Bank. http://hdl.handle.net/10986/42580 License: CC BY-NC 3.0 IGO.”
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