Macroeconomic Forecast Vietnam

February 2006 | Macroeconomic Forecasts

Vietnam's 8.4% growth in 2005 was led by the expansion in the construction and industrial sectors, although high world oil prices affected the overall performance. With crude prices expected to continue rising, Vietnam's reliance on oil product imports will remain a downside risk to growth ahead, contributing to inflationary pressures and the high import bill. However, expected accession to the WTO in mid 2006 will boost export levels, leading to a narrowing of the trade deficit and supporting sustained strong growth over our forecast period.

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