Vietnam Oct exports up 5.9pc, industrial output rises

HANOI, Oct 31 (Reuters): Vietnam's exports and industrial output rose in October from a year earlier, showing signs of a gradual economic recovery in the country which is highly sensitive to swings in global demand, government data released on Sunday showed.
Exports in October rose 5.9 per cent from a year earlier to $32.31 billion, with imports also witnessing a rise of 5.2 per cent, the statistics office said in a report.
However, amid lower global demand for goods, in the first ten months of the year Vietnam's exports fell 7.1 per cent from a year ago to $291.28 billion, while imports decreased 12.3 per cent from a year earlier to $266.67 billion, with an estimated trade surplus of $24.61 billion over that period, it said.
Industrial output of Vietnam, a manufacturing centre for major global electronics and clothing brands, rose 4.1 per cent in October from a year earlier, the agency said in a report, with output from manufacturing rising 4.9 per cent.
That was an acceleration from September when industrial output increased by an annual 2.9 per cent, according to the latest data, which however was revised from a previous 5.1 per cent reading.
On Friday, official data showed foreign investment in Vietnam surged in October as the country attracted more than double the average monthly financial pledges it has received this year, amid a big boost in spending for new plants.
According to the statistics office, October consumer prices rose 3.59 per cent from a year earlier.