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Vietnam forecasts 6% economic growth in 2024, fueled by export revival

Vietnam forecasts 6% economic growth in 2024, fueled by export revival

Posted on January 29, 2024   |  

Vietnam aims for 6% economic growth this year, bouncing back from a slowdown in 2023, driven by the expected recovery in exports.

Despite facing challenges in 2023, especially in exports, Vietnam's economy rebounded in the second half, exceeding expectations with a growth rate of 5.1%.

The economy's heavy reliance on manufacturing exports makes it susceptible to external shocks, as seen in the downturn of electronics and manufacturing goods last year.

Exports played a vital role in Vietnam's economic growth in 2023, forming one of the three main pillars alongside investment and consumption. 

Although exports faced challenges in the first quarter, they gained momentum from the second quarter onwards, reaching over US$30 billion monthly from July to the end of the year.



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