Vietnam's exports continue to gain momentum as Q4 starts: HSBC

The bank feels this is a sign of the country being on track to recover from the global trade downturn. 

Due to favourable base effects in the last two months of the year, the country’s export growth is likely to accelerate, it noted.

This initiates a recovery in the trade sector that is expected to lift growth to 6-6.5 per cent next year, according to the government.

After private consumption saw some marginal improvements in Q3, retail sales continued to recover, growing by 7 per cent YoY, Vietnamese media outlets reported.

Inflation rose marginally in October by 0.1 per cent over the September figure—a YoY inflation print of 3.6 per cent.

HSBC expects inflation to remain well below the State Bank of Vietnam's 4.5 per cent ceiling. The bank's central case is for the central bank to hold its policy rate steady at 4.5 per cent.

The country’s total goods retail sales and consumer service revenues increased by 9.4 per cent YoY in the first 10 months this year to more than $207.5 billion.

ALCHEMPro News Desk (DS)