Vietnam: Merchandise exports lose momentum in October
Latest reading: Merchandise exports growth ticked down to 10.1% in annual terms in October (September: +10.8% yoy), marking the weakest reading since February. The moderation was chiefly driven by milder growth in exports for electronics, footwear and machinery products. Meanwhile, merchandise imports shot up 13.6% in annual terms in October (September: +11.1% yoy).
As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 2.0 billion surplus in October (September 2024: USD 2.3 billion surplus; October 2023: USD 2.7 billion surplus). Lastly, the trend pointed down, with the 12-month trailing merchandise trade balance recording a USD 25.9 billion surplus in October, compared to September’s USD 26.6 billion surplus.