General Statistics Office figures reveal that Vietnam earned 5.2 billion USD from exporting textile and garment products in the opening two months of 2024, a 15-percent increase compared to the same period of 2023. The figure puts textiles and garments in fourth position in terms of revenue-generating sectors.
Vietnam’s Purchasing Managers’ Index (PMI) hit 50.4 points in February, up slightly compared to the 50.3 points recorded in January and above the 50-point threshold for the second month in succession.
In the first two months of 2024, four commodities of Vietnam posted export value of over 5 billion USD, accounting for over 52% of the country's total export turnover, according to the General Statistics Office of Vietnam.
In the first two months of 2024, economic indicators paint a dynamic picture for Vietnam with the Consumer Price Index (CPI) surging by an average of 3.67%, core inflation increasing by 2.84% and total registered foreign investment reaching nearly 4.29 billion USD.
In the initial two months of 2024, Vietnam's agro-aquatic-forestry exports reached an impressive 9.84 billion USD. This marks a substantial surge of 50.3% compared to the same period in 2023.
Total newly-registered foreign investment capital, adjusted and contributed capital to buy shares and buy contributed capital of foreign investors totalled 4.29 billion USD as of February 20, up by 38.6% compared to the same period in 2023. The disbursement of FDI capital is projected at some 2.8 billion USD, reflecting a 9.8% increase against the same period last year.
Vietnam’s shrimp exports are expected to recover this year and slightly increase by between 10 and 15%. Export turnover is believed to reach 4-4.3 billion USD.
The Ministry of Agriculture and Rural Development has set a target of Vietnam’s total coffee plantation area reaching 640,000 - 660,000 hectares by 2030, with exports expected to account for 80-85% of the country’s total production.
The Asian Development Bank (ADB), Bloomberg, and HSBC have all forecast that Vietnam’s GDP growth could reach 6 percent in 2024. Standard Chartered Bank, meanwhile, has forecast 6.7 percent, surpassing Vietnam’s own growth target of 6-6.5 percent.
The Ministry of Agriculture and Rural Development is aiming for Vietnam’s total rubber plantation area to reach some 800,000 - 850,000 ha by 2030, with 100% of rubber latex and wood to obtain planting area codes for product origin traceability.
The Ministry of Agriculture and Rural Development has set a goal of the total pepper cultivation area nationwide standing at 80,000 - 100,000 ha by 2030, with a production target of 180,000 - 230,000 tonnes.
Vietnam ranked second in the world, just after China, in footwear exports, with 1.5 billion pairs shipped overseas and a presence in 150 markets in 2022. Footwear exports last year brought in over 20.2 billion USD, marking the 26th consecutive year, since 1998, that footwear exports have been in the billion-dollar category.
The consumer price index (CPI) increased 3.37% in the opening month of 2024, foreign direct investment 40.2%, international arrivals 73.6%, and the Index of Industrial Production (IIP) 18.3%.
The National Assembly’s resolution on the socio-economic development plan for 2024 sets a target of 6.0-6.5% growth in gross domestic product (GDP) for the year, while per capita income is expected to reach 4,700-4,730 USD.
Total newly-registered foreign investment capital, adjusted capital, and capital contributed to buy shares and buy contributed capital of foreign investors in January totalled 2.36 billion USD as of January 20, an increase of 40.2 percent compared to 2023.