HANOI :Vietnam reported double-digit growth in exports and imports in May, government data showed on Friday, as shipments in and out of the industrial hub accelerated before the United States’ threatened “reciprocal” tariffs take effect.
Exports in May rose 17 per cent from a year earlier to $39.60 billion, while imports were up 14.1 per cent at $39.04 billion, resulting in a trade surplus of $560 million for the month, the National Statistics Office said in a report.
Earlier this week, the government had said exports had risen an annual 14 per cent in May.
The Southeast Asian country faces a 46 per cent “reciprocal” tariff from President Trump if a trade deal cannot be negotiated before a pause on the levies ends in July. If the tariffs come into effect, they could seriously undermine a growth model that relies on exports to the United States, its top market.
Consumer prices in May rose 3.24 per cent from a year earlier, the NSO said, while industrial production rose an annual 9.4 per cent and retail sales were up 10.2 per cent.
Foreign investment inflows in the January-May period rose 7.9 per cent from a year earlier to $8.9 billion, the NSO said. Foreign investment pledges over the period soared 51.2 per cent to $18.4 billion.
