Vietnam Economic Update – H1 2023
In the first half of 2023, Vietnam’s macro-economics was impacted by global and domestic economic uncertainties.
Vietnam’s GDP grew by 3.72%1 over the same period last year
The service sector is leading the economic growth thanks to domestic consumption stimulus policies, the reopening of the economy since March 15, 2022, and the post-COVID rebound tourism flow
The export value has been shrinking (-12% compared to H1 2022) owing to contracting consumption in major export markets, including the US and EU
The stock market has been adversely impacted by the Government’s policy (inflation control) and negative events in the international financial market and in the domestic real estate market
