Viet Nam’s macro fundamentals remain solid: Standard Chartered

The bank highlighted that Viet Nam's export growth picked up in early 2025, and the country continues to post modest trade surpluses. Imports have also grown, with raw materials, production equipment, and spare parts accounting for a significant share.

On the external front, Viet Nam recorded a strong trade surplus of US$2.8 billion in June, which supported the VND and improved external balances.

The bank also revised its 2025 inflation forecast to 3.5 percent, from 3.8 percent. The upward reversal in inflation has stalled in recent months, with headline inflation staying below 4 percent year-on-year for the 11th consecutive month in June. This trend may reduce the scope for further monetary easing and could prompt policymakers to maintain a more neutral stance.

FDI flows have shown strong improvement, led by the manufacturing sector, and followed by the property sector. In the first half of 2025, disbursed FDI rose 8.1 percent to US$11.7 billion, while pledged FDI rose 32.6 percent to US$21.5 billion.

Standard Chartered Bank has revised its 2025 growth forecast for Viet Nam to 6.1 percent, down from 6.7 percent. The bank expects growth to slow to 4.9 percent in the second half, from 7.5 percent in the first half.

Tim Leelahaphan, Senior Economist for Viet Nam and Thailand, Standard Chartered Bank, shared Viet Nam's trade outlook remains encouraging, supported by solid export performance and strong tourism recovery.

He expressed his belief that Viet Nam is well-positioned to navigate near-term challenges and sustain its growth momentum./.