Vietnam: macroeconomic indicators continue to grow

Vietnam's macroeconomic indicators continue to improve, with the trade deficit narrowing to 535 million euros, the lowest since March 2009.

The country has a deficit of 21.8% of turnover from exports, just above the government's target set at 20%.

The stock market saw a 13% correction in the VN-Index during the first three weeks of May. However, investors are regaining confidence in global markets. In this regard, the monetary policy implemented by the State Bank of Vietnam plays a key role.

The Vietnamese market presents good buying opportunities for investors looking for discounted stocks. Experts recommend investing in the real estate, building materials, pharmaceutical, food & beverage, and banking sectors.

Vietnam's population will continue to grow steadily over the next five years and is projected to reach 100.4 million of people by 2024. With an average age of 32 years old, the population represents one of the largest workforces in Southeast Asia.

The urban population is expected to increase by about +2,7% over the next five years, reaching almost 40 million city residents, about the 40% of the total population by 2024. Rapid urbanization is driving the growth of the middle class and Vietnam's domestic consumer base. Living standards have improved, driven by per capita income growth: the latter element will drive consumer spending demand in the coming years.

Vietnam's transition from an agrarian economy to an export-oriented manufacturing hub is reflected in its trade flows. The current and growing number of free trade agreements Vietnam's makes it one of the most globally integrated countries in the region.

Source: Viet Nam News

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