Vietnam's exports see 17% YoY rise in H1, growth may slow in H2: HSBC
20 Aug 22 1 min read
The Vietnam Textile and Apparel Association (VITAS) forecast the amount ordered will decline in the months ahead.
The main cause is a growth slowdown in the electronics industry, especially mobile phones, according to a news agency report.
In its ‘Vietnam at a Glance’ report, it said import growth in July slowed down to only 3.4 per cent compared to the double-figure growth in previous months, partly due to lower energy prices, thereby reducing import orders of such commodities as steel, coal and crude oil.
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Despite an unpredictable global economic situation, the domestic economy has continued to reap certain successes, the HSBC report showed.
Retail sales posted a record growth rate of over 55 per cent in July compared to the same period last year.
Fibre2Fashion News Desk (DS)
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