October total exports data remains encouraging – Vietnam remains on course to smash 2024 figures. October’s data shows us a small decline in US exports growth, but not overly significant. We see the government’s efforts to stymie VND depreciation and stabilise the exchange rate paying off.
As more exports data becomes available the picture becomes clearer, and the real extent of the damage from US tariffs can be seen – some significant sector-specific hits, but not a great deal overall. Core inflation fell between September and October, and we expect the country to hit the annual target of 3.3%. Interest Rates, Inflation & Currency Having reached 3.38% in September, core inflation fell to 3.25% in October although the Consumer Price Index (CPI) rose by 0.20% in October thanks to high food prices in areas affected by flooding brought by heavy rains linked to typhoons Kalmegi and Bualoi, and now more recently dropping between 1.5m and 5.2m of rainfall on various areas – most notably...
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