Vietnam’s economy grows steadily with 57.4 billion USD trade turnover in November

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(VOVWORLD) -Vietnam's economy is growing steadily with good growth prospects in the coming years, according to data for November and 11 months of the year released on Tuesday by the General Statistics Office and the Ministry of Planning and Investment.

In November, Vietnam’s import-export turnover will total 57.4 billion USD. International arrivals to Vietnam increased 23% since last month. 

Economist Dr Le Duy Binh, Managing Director of Economica Vietnam, outlines encouraging results. “The trust of investors and domestic and foreign businesses in our economy has been consolidated,” said Binh, adding, “12,000 new enterprises have been established. Registered foreign investment capital had reached 25 billion USD through November. Realized foreign investment capital totaled 19.7 billion USD. Retail sales increased 2% this month,” he said. 

According to economists, for Vietnam’s economy to grow stably, Vietnam needs to diversify markets, make accurate forecasts of the volatility of major markets, make appropriate production and business adjustments, and ensure the safety of the banking and financial system.

Dr. Tran Toan Thang of the National Center for Socio-Economic Information and Forecast of the Ministry of Planning and Investment, said, “Vietnam’s export position in the world is relatively good, but boosting exports will depend on exchange rates and interest rates.”

“If exchange rates remain low, Vietnam won’t be able to expand exports due to a decline in consumer demand. This is something exchange rate managers should pay attention to,” Thang explained.