Vietnam records $2 bln trade surplus in Oct
Recasts with trade data
HANOI, Nov 6 (Reuters) - Vietnam reported a trade surplus of $2 billion in October, narrowing from the previous month as imports grew at a faster rate than exports, government data showed on Wednesday.
The Southeast Asian country, a regional manufacturing hub, relies heavily on exports for its economic growth. Shipments abroad rose 10.1% in October from a year earlier, the General Statistics Office said, while imports increased by 13.6%.
For the January-October period, exports rose 14.9% from a year earlier to $335.586 billion, while imports were up 16.8% to $312.28 billion, the GSO said.
Industrial production rose by 7.0% in October from a year earlier, slower than 10.8% growth in September.
Last month, the Prime Minister said the government wanted to drive economic growth above an expected rate of 6.8%-7.0% this year. In the September quarter, annual growth hit a two-year high of 7.4%.
Theconsumer price index rose 2.89% in October from a year earlier, below the government's cap for 2024.
Reporting by Phuong Nguyen; Editing by John Mair
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
