Macro Report – Page 3 – VinaCapital – Vietnam Opportunity Fund

Vietnam Macroeconomic Commentary: December 2024

Vietnam’s 2024 GDP growth came in at 7.1%, a solid recovery from the 5.1% recorded for 2023. The expansion in 2024 was driven entirely by a surge in manufacturing output growth (from 3.6% in 2023 to 9.8% in 2024), which inturn was propelled by a recovery in Vietnam’s export to the US from an 11% […]

Vietnam Macroeconomic Commentary: November 2024

We have been advising investors for months that Vietnam’s economy has been supported by an extraordinary surge in exports to the US this year, which boosted the country’s manufacturing sector. However, the growth of consumption by Vietnamese consumers has been fairly modest, which is reflected in modest revenue and earnings growth of consumer-facing companies in […]

Vietnam Macroeconomic Commentary: October 2024

This year, Vietnam’s economy has been almost entirely supported by the recovery of the country’smanufacturing sector, from essentially no growth in 10M23 to 9.6% y-o-y growth in 10M24. Themanufacturing sector’s growth is being driven by surging tech exports, especially to the US. Computer and electronics exports to the US were up 42% y-o-y in 10M24 […]

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