Haiphong, a rising manufacturing hub in northeastern Vietnam, has ordered companies to divulge their number of Chinese workers there daily, in an attempt to curb the risk posed by the coronavirus outbreak.
The coronavirus outbreak may cost Vietnam’s full-year economic growth rate by between 0.55-0.84 percentage point in 2020, according to official from Ministry of Planning and Investment during Wednesday government meeting.
Vietnam reported double-digit decrease on both exports and imports in the first month of 2020 due to the negative affect of coronavirus outbreak, preliminary statistics of the General Department of Customs show.
The European Union is expected to open its markets to Vietnam on Wednesday, while closing its trade doors with Cambodia on labor guarantees and sanctioning the latter for human rights abuses.
- Vietnam trims 2020 economic growth forecast to around 6% as coronavirus risks 1
- Vietnam’s exports fall 17.4% amid coronavirus fears 2
- EU seen opening up trade to Vietnam, closing door to Cambodia: Reuters 3
- Coronavirus outbreaks cut Vietnam’s January export to China by 35% 4
- Coronavirus may cost Vietnam 1% GDP in first quarter 5
- Novel coronavirus fear slows down Vietnam's thriving tourism industry 6
Vietnam’s January bilateral trade with China fell 25.8% from December last year to $8.29 billion, according to statistics from the General Department of Vietnam Customs.
Vietnam’s economic growth in first quarter is expected to contract 1% from a year ago due to the spreading of the new coronavirus and a week-long break for Lunar New Year holiday.
The coronavirus outbreak in China has been causing shocks to global travel and tourism and is expected to further impact the business in Vietnam, which has witnessed significant growth in recent years.
Vietnam’s inflation rate accelerated 6.43% in January against the same period of last year, the highest increase since August 2013, according latest data from the General Statistics Office.
Fitch Solutions revises Vietnam 2020 averge inflation forecast to 5.7% from 3.5% announced previously since the shortage in pork supply has begun to grip the country.
Chinese manufacturers are dodging U.S. tariffs by rerouting goods to Vietnam. Here’s why transshipment is on the rise, and how U.S. customs officials are struggling to stamp out the practice.
Despite tighter trade measures, the neighboring country remained Vietnam’s leading supplier of steel over the last three years.
Vietnam General Department of Customs has reported a trade surplus of over $11 billion in 2019, beating earlier estimate of $9.94 billion.
Foreign investors have expressed concern about the serious air pollution situation in Vietnam that could affect the country’s economic growth in long term.
Korea has regained its status as the biggest foreign investor in Vietnam in 2019, surpassing Japan which clinched the spot for the past two years, according to data.
Vietnam’s total import-export turnover grew 7.6% to nearly $517 billion in 2019, with a trade surplus of $9.94 billion, data from General Department of Customs shows.
Vietnam’s foreign reserves hit a record high of almost $80 billion, which was unimaginable a decade ago, according to Prime Minister Nguyen Xuan Phuc at a conference on Monday in Hanoi.