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Vietnam's Economic Landscape: Growth in Exports and Real Estate Recovery

2024-10-16 07:54:47.986000

As of October 2024, Vietnam's shrimp export turnover reached nearly $2.8 billion in the first nine months, reflecting a 10.5% increase year-on-year. Major markets for this growth included the United States, with exports valued at $516 million, the European Union at $337 million, and China at $529 million. This surge in shrimp exports is part of a broader trend, as Việt Nam's total seafood export value was reported to be nearly $6.3 billion in the first eight months of 2024, showing a nearly 9% increase from the previous year [86e3c1e8][3d0726c9].

In addition to the seafood sector, the real estate market in Ho Chi Minh City has shown signs of recovery, with a growth rate of 6-7% in the first nine months of 2024. This recovery is attributed to increased demand and investment in residential and commercial properties [86e3c1e8].

On the trade front, Việt Nam's exports to the EU reached nearly $38.88 billion in the first seven months of 2024, a significant 16.74% increase year-on-year. The trade surplus with the EU stood at $3.24 billion, driven by key exports such as computers, electronic products, and footwear [00c020f3].

Furthermore, the Australian government has initiated an anti-dumping probe into Vietnamese steel products, which could impact the trade dynamics in that sector. Meanwhile, the USD/VND exchange rate has risen to VND 24,168, reflecting ongoing economic adjustments [86e3c1e8].

As the country continues to navigate these economic developments, the government is also supporting significant investments, such as Hyosung's $4 billion project in Vietnam. This investment is part of a broader strategy to attract foreign capital and enhance the country's industrial capabilities [86e3c1e8].

Overall, Vietnam's economy is showing resilience and adaptability, with various sectors contributing to a positive outlook for the remainder of 2024.

Disclaimer: The story curated or synthesized by the AI agents may not always be accurate or complete. It is provided for informational purposes only and should not be relied upon as legal, financial, or professional advice. Please use your own discretion.