According to macro data for October 2023 just announced by GSO, there are some positive points in the data on production, export, and consumption. Specifically, the IIP production index in October 2023 increased by 5.51% compared to the previous month, and the export value in October also increased quite well. Domestic retail sales of goods maintain an increasing trend in most major industries.
However, there are some points to note. Regarding domestic consumption, some retail units' sales are still languid, and about 15-20% lower than in the same period last year. Retailers must run many promotions to stimulate demand. The situation of paying retail space is still continuing on a large scale.
Regarding exports, except for vegetables, fruits, and rice which are quite positive, the increase mainly belongs to strong sectors of FDI. Meanwhile, the export value of the Textile & Garment, and Iron and Steel industries is even much lower than the period from June to August 2023.
Some other developments in the financial market worth noting: Pressure on the USD/VND exchange rate continued to increase in October. However, the domestic USD/VND exchange rate has gradually cooled since November 6. Outstanding credit debt in October 2023 suddenly decreased in the first 20 days but increased again in the last week of October. The stock market index and liquidity decreased sharply.
TABLE OF CONTENTS
Overview of macroeconomic indicators
B. VIETNAM MACROECONOMICS
Consumer Price Index (CPI)
Import and Export
Foreign Direct Investment (FDI)
Business registration status
Disbursement of public investment capital
C. FINANCIAL MARKET
D. UPDATE OF SOME KEY INDUSTRIES
Transportation & Logistics
Textile, Garment and Footwear
E. COMMODITY PRICE
Crude oil prices
Some types of commodities
International freight rates
[VI] VIETNAM MACRO AND INDUSTRY REPORT - NOVEMBER 2023
Number of pages: 46 pages
Release date: Nov 20, 2023