Vietnam is moving into the last quarter of this year with optimism, fueled by a gradual improvement in exports and high expectations for a much-needed recovery. In October, Vietnam’s exports continued to gain momentum, posting nearly 6% growth compared to the same period last year. While the overall trade performance indicates a mixed outlook in the face of global economic challenges, this positive trend suggests that Vietnam is headed in the right direction for a rebound, as outlined in a recent report by HSB. Seeing the green shoots In 2023, the global economy faces ongoing challenges, and Vietnam is no exception. Like other export-driven economies, the nation has felt the impact of widespread recession concerns following the Covid-19 pandemic. Experts at HSBC have observed that Vietnam has long been considered a success story for its development model, transitioning from an agriculture-based economy to a prominent player in global manufacturing supply chains. However, this year has tested the upward trajectory of exports, with major industries such as consumer electronics, textiles, furniture, and machinery facing difficulties. The decline in demand from key global markets has affected approximately 90% of the country’s exports, reflecting the broader global trade slowdown. Amid these challenging times, […]
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