Vietnam Asset Management’s monthly Vietnam market outlook update

October macro indicators showed Vietnam’s real economic growth was still on track. Industrial production and retail sales in the first ten months grew by 13.7 per cent and 25.1 per cent on-year, respectively. In the same period, export turnover was also up 23.3 per cent on-year whilst imports were only up 20.7 per cent. With the third consecutive downward revision to September deficit number from $1.05bn to $875m (after revisions made to July and August numbers), year-to-date trade deficit is standing at $9.5bn versus the government full year target of $13-14bn, signaling that trade deficit seemed to have stabilised.