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For the full year, UOB maintained the previous forecast at 6%. Inflation will be controlled at 3.8%. In 2025, UOB expected the Vietnamese economy to grow at 6.4%
Recent economic indicators affirm positive outlook for the Vietnamese economy. The manufacturing purchasing managers’ index (PMI) remained unchanged at 50.3 in May, signaling a second consecutive marginal monthly improvement in business conditions in the industry.
Industrial production rose by 8.9% in May, marking the third consecutive month of growth.
Exports posted two-digit growth for the third consecutive month, at 15.8% in May, up from 10.6% in April. Imports rose 29.9% in May from 19.9% in April.
Vietnam ran a trade surplus of $7.8 billion in the first five months of this year.
The realised foreign direct investment rose 7.8% to reach $8.3 billion in January-May, the fastest pace since 2018.
The total retail sales of goods and services increased by 8.7%, supported by robust restaurant, accommodation and tourism services.
The Government has set a GDP growth target of 6-6.5% this year.
