While overall global trade is not growing, Vietnam isspecialising in a segment that is still expanding: manufacturing.
Unlike most ASEAN countries, its largest exposure to trade is the US and the EU, where momentum is improving; ongoing trade integration efforts should boost Vietnamese shipments.
Exports expanded 12% y-o-y in Q2 2015; the July manufacturing PMI shows that momentum is still solid, rising 52.6 from 52.2, led by new order, output and employment.
Davi Nguyen
