AEIR 2018

Growth rose from 6.2% in 2016 to 6.8% in 2017, reaching its highest rate since before the global financial crisis of 2008–2009. A sharp rise in exports, solid increase in investment, and robust private consumption underpinned growth last year. Recovery in global trade, particularly in electronics, boosted merchandise exports by a whopping 21.2%, measured in dollar value. High growth in domestic investment with contributions from high FDI and rapid credit growth boosted aggregate demand. As the consumer confidence index rose to a high 117, private consumption increased by 7.4%, more than offsetting slight moderation in public consumption caused by continued fiscal consolidation. Reflecting buoyant private consumption, retail sales grew by 10.9% in 2017 to a record $129.6 billion, equal to 58.6% of GDP.

While Viet Nam remains to be one of the fastest growing economies in Southeast Asia, growth projection for 2018 is slightly revised downward from 6.9% to 6.8% as exports moderated and domestic demand weakened.

Source: Asian Development Outlook 2018 Update, ADB.
Latest Month-Ago Year-Ago
Composite Stock Price Index 1 961.5 (Oct18)991.6 820.4
Broad Money Growth 2 17.4 (May18)17.4 16.9
Headline Inflation Rate 3 3.9 (Oct18)4.0 3.0
Industrial/ Manufacturing Production Growth Rate 3 7.7 (Oct18)9.1 17.0
Merchandise Export Growth 3 2.3 (Oct18)2.3 9.5
Exchange Rate Index 4 146.7 (Oct18)146.4 142.8
1 Monthly average, local index.
2 %.
3 y-o-y, %.
4 Monthly average, January 2006 = 100, $/local currency.
Source: Bloomberg LP; CEIC database; General Statistics Office.