"Vietnam's economy" is not bright. Exports and imports are falling rapidly. GDP is expected to grow 6.5% this year.
On May 10, 2566, The Business Times news agency The Vietnam Customs Department reported that Vietnam's exports and imports in the first four months of 4 dropped sharply from a year earlier. which affects the growth goals due to facing weak global demand
The Customs Department stated in its report that Exports in the first four months fell 4% from a year earlier to $13 billion.
Major regional producers Vietnam are trying to avoid slowing growth from weak demand in key markets. This was after GDP expansion in the first quarter slowed to 3.3 percent from 5.9 percent in the fourth quarter of last year. It has set a GDP growth target of 6.5 percent this year, slower than 8.02 percent last year.
by exporting smartphones Vietnam's largest export earner, fell 18.1 percent in the period to US$1.73 billion. According to the report of the Customs Department
Meanwhile, imports during January-April dropped 17.7% to 99.6 billion USD. This resulted in a trade surplus of $7.5 billion. The sharp decline in imports reflects a slowdown in industrial production in the future. This is because businesses reduce the procurement of raw materials and equipment.
Earlier, Vietnamese lawmakers urged the central bank to consider further cutting policy rates to support the economy. After cutting the policy interest rate several times in March
Meanwhile, Vietnam, with a population of 100 million, plans to cut the value-added tax on goods and services to 8 percent from 10 percent to stimulate consumption to offset falling exports. However, this year's large trade surplus has been hampered. Support for central banks to build international reserves
