July CPI up by 0.62% month-on-month

Vietnam’s Consumer Price Index (CPI) increased 3.77% year-on-year in the first quarter of 2024 due to rising prices for domestic rice and services such as electricity, water, education and healthcare.

A total of 36,244 new enterprises were set up in the first quarter of this year with combined registered capital of 332.2 trillion VND (13.3 billion USD), up 6.9% in number and 7% in capital.

China has long been Vietnam’s largest trading partner, with two-way trade consistently exceeding 100 billion USD since 2018. Trade between the two neighbours reached 171.85 billion USD last year.

Coconuts have been designated one of the six primary national industrial crops by the Ministry of Agriculture and Rural Development. It is projected that the country’s coconut cultivation area will expand to 195,000-210,000 hectares by 2030, resulting in a substantial harvest of over 2 million tonnes.

Figures from the General Statistics Office show that Vietnam’s economy is experiencing a strong recovery during the first quarter of 2024. GDP growth is higher than in the first quarter in the 2020-2023 period, while tourism is booming and an impressive trade surplus has been posted.