Standard Chartered: VN leads ASEAN growth rates in near term
14:32 | 14/08/2019

VGP – The Standard Chartered forecasted that Viet Nam would remain the fastest growing ASEAN economy in the short term with a projected growth rate of 6.9% in 2019. 

The bank recently published Global Focus – Economic Outlook report for Quarter 3, 2019 entitled “The dovish wave grows”.

The Standard Chartered said that the FDI –driven manufacturing sector was expected to experience a fourth consecutive year of double-digit growth, serving as a key growth impetus. 

Viet Nam’s export growth is likely to remain steady and outperform her peers. 

Electronics exports, which make up about a third of the total, are likely to be less supportive than in recent years due to slowing external demand and lower semiconductor prices.

Import growth is expected to remain close to 10% on slowing capital-goods imports; this should keep the trade balance in surplus in 2019.

The bank forecast that inflation would increase modestly in the last six months of the year, averaging 2.8% in comparison to 2.6% in the first half of the year and core inflation.

Mr. Chidu Narayanan, an economist of Asia, Standard Chartered Bank said that “Viet Nam’s growth prospect remains strong, with macro-economic conditions staying stable in the first half of the year which is likely to continue towards year-end. We expect growth to accelerate mildly in the second half from 6.7% in the first half.”  

Standard Chartered Bank predicted that VND should remain supported near-term by a stable current account surplus and strong FDI inflows and USD/VND would be 23,100 at end-2019 and 23,000 in mid-2020./.

By Kim Anh 

  Reader opinion
Turn off Vietnamese typing Automatic typing Telex VNI VIQR  
Fullname Email address