HSBC forecasts Viet Nam’s GDP growth to reach 6.3% in 2024
VGP - Exports and domestic consumption will be the main driving forces to support Viet Nam’s GDP growth in 2024 to reach 6.3 percent.
Viet Nam's GDP growth in 2023 and 2024 forecasted by international financial institutions
Frederic Neumann, Managing Director, Chief Asia Economist, and co-head of Global Research Asia at HSBC made that above statement at a conference held on October 9.
As the world's aggregate demand shows sign of recovery, exports will increase in 2024 that would help Viet Nam's economy grow stronger, shared the HSBC economist.
HSBC forecasted that Viet Nam's economy will expand 5 percent by the end of this year and accelerate to 6.3 percent next year, noted Frederic Neumann.
During the nine months, the total import-export turnover of goods reached US$449.66 billion, with export turnover at US$259.67 billion, a year-on-year decrease of 8.2 per cent, figures from the General Statistics Office showed.
Specifically, six commodities registered an export turnover of more than US$10 billion, accounting for 62.2 per cent.
The U.S. was Viet Nam's largest export market during the period, amounting to US$70.9 billion.
Total retail sales of consumer goods and services in the first nine months of this year was estimated at VND4,567.8 trillion (US$190 billion), a year-on-year increase of 9.7 per cent.
Viet Nam's GDP growth accelerated to 5.33 percent in June-September period compared to 3.28 percent and 4.05 percent respectively in the first and second quarter./.
