Tan Vu Container Terminal (Photo: Tuan Anh/ VNA)

It’s reported that Vietnam’s industrial production index in May increased 2.6% compared to the previous month.

According to the World Bank, the significant growth in imports of intermediate input products indicates increasing demand from trading partners, therefore exports will likely be higher in the near future. FDI commitment reached 11.07 billion USD as of the end of May 2024, 2% higher than the same period of last year.

In its most recent macro-economic updates about Vietnam, Standard Chartered Bank forecasts Vietnam’s Q2 GDP growth to moderate to a still-strong 5.3% year-on-year.

According to Standard Chartered’s economists, the bank expects retail sales growth to ease to 8.2% year-on-year in June, export growth to ease to 14.2% year-on-year in June, and electronics exports to continue their year-to-date improvement.

Head of the International Monetary Fund (IMF) delegation to Vietnam Paulo Medas on Wednesday forecast that Vietnam’s economic growth will recover to close to 6% in 2024, supported by continued strong external demand, resilient foreign direct investment, and accommodative policies.