Vietnam’s economy expected to revive

Vietnam’s economic picture at the end of the first quarter clearly reflects the difficulties the country is facing, with GDP growth of just 3.32% - very low for the last decade. However, data shows that the economy may recover in the second or third quarter.

Difficulties in many export markets are forcing this enterprise to seek measures to maintain orders. Changing its way of doing things is expected to help it overcome the difficulties and make breakthroughs this year.

Data shows that declines in production in a number of key industries pushed down the added value of industry as a whole in the first quarter by 0.82% over the same period of last year. However, the forecast for the second quarter is more positive, with only 33% of enterprises believing it will be more difficult.

Export turnover in the first quarter was estimated at just over 79 billion USD, down 12% over the same period last year. However, there are many signs that inflation is gradually cooling down in many major economies, with expectations of a recovery in consumer demand helping recover exports in the near future./.

By: VNA

Tags: Vietnam’s economy,