The 2025 GDP growth forecast remains at 6.7%, with moderation expected ahead in the second half of the year.

The report outlines that the Vietnamese economic outlook remains supported by strong integration into global trade networks through multiple free trade agreements, along with continued foreign direct investment (FDI) inflows. These factors continue to strengthen the country’s position in terms of global production and exports.

According to the report, key economic indicators for March point to steady performance. In addition, retail sales growth likely eased to 6.2% on-year, while export growth may have moderated to 8.2% on-year given a higher base.

Electronics exports have likely continued to improve year-to-date. Elsewhere, imports and industrial production likely grew by 6.0% and 6.2%, respectively.

The monthly trade balance may have swung to a surplus of US$3.7billion. Inflation is expected to reach 3.4% in March from the previous figure of 2.9%. If inflationary pressures persists, then it may pose challenges for monetary policy.

Tim Leelahaphan, senior economist for Vietnam and Thailand of Standard Chartered Bank, said “While economic growth remains strong, trade risks and currency fluctuations could impact policy decisions.”

“Vietnam may consider have flexible monetary policies to ensure resilient financial sector and navigate potential economic fluctuations,” he added.

Standard Chartered lifts forecast for Vietnam’s 2024 GDP growth to 6.8%

Standard Chartered has revised up its forecast for Vietnam’s 2024 GDP growth to 6.8% from the previous 6.0%, reflecting the stronger-than-expected expansion in the third quarter of this year.