Vietnam: Merchandise exports loses momentum in September
Latest reading: Merchandise exports decelerated to 10.8% in annual terms in September, contrasting August’s 15.2% increase, and slightly below market expectations. The result marked the softest increase since April and was mainly driven by weaker growth in exports for electronics components. Meanwhile, merchandise imports soared 11.1% on an annual basis in September (August: +14.7% yoy), marking the weakest result since March 2024.
As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 2.3 billion surplus in September (August 2024: USD 4.0 billion surplus; September 2023: USD 2.2 billion surplus). Lastly, the trend pointed up, with the 12-month trailing merchandise trade balance recording a USD 27.1 billion surplus in September, compared to August’s USD 27.0 billion surplus.