Vietnam October exports up 5.9%, industrial output rises
VIETNAM’S exports and industrial output rose in October from a year earlier, showing signs of a gradual economic recovery in the country which is highly sensitive to swings in global demand, government data released on Sunday (Oct 29) showed.
Exports in October rose 5.9 per cent from a year earlier to US$32.31 billion, with imports also witnessing a rise of 5.2 per cent, the statistics office said in a report.
However, amid lower global demand for goods, in the first 10 months of the year, Vietnam’s exports fell 7.1 per cent from a year ago to US$291.28 billion, while imports decreased 12.3 per cent from a year earlier to US$266.67 billion, with an estimated trade surplus of US$24.61 billion over that period, it said.
Industrial output of Vietnam, a manufacturing centre for major global electronics and clothing brands, rose 4.1 per cent in October from a year earlier, the agency said in a report, with output from manufacturing rising 4.9 per cent.
That was an acceleration from September when industrial output increased by an annual 2.9 per cent, according to the latest data which, however, was revised from a previous 5.1 per cent reading.
On Friday, official data showed foreign investment in Vietnam surged in October as the country attracted more than double the average monthly financial pledges it has received this year, amid a big boost in spending for new plants.
According to the statistics office, October consumer prices rose 3.59 per cent from a year earlier.
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