Export Growth Set To Slow

September 2003
Asia Monitor: South East Asia Monitor Volume 1;Sep2003, Vol. 14 Issue 9, p6
Country Report
Country Report
This article focuses on the economic conditions in Vietnam, as of August 2003. What is striking about this year's trade figures is that Vietnam's external sector seems relatively unaffected by the difficult international climate induced by the war in Iraq and concerns about international terrorism. While there were strong performances across a range of export sectors, textile and garments exports recorded one of the strongest growth rates, up 90% y-o-y and bringing in U.S. $860mn. Contributing to rapid export growth in the first four months of the year was a particularly strong performance by the foreign-invested sector, which saw 50.8% y-o-y growth, as opposed to 22.8% for domestic exports. Vietnam's economy remains in good shape. Growth has been relatively broad based so far in 2003, and despite the feared economic fall out from the SARS crisis earlier in the year, the economy expanded at the sharpest pace across Asia during the second quarter, at 6.9%.


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