Vietnam Macroeconomic Analysis: January 2024 Overview

Vietnam Macroeconomic Analysis: January 2024 Overview

Enterprise market dynamics
In January 2024, the Vietnamese enterprise market showed some highlights and challenges. The number of newly established enterprises reached 13,500, an increase of 2.2% month-on-month and 24.8% year-on-year, showing the vitality of the market. The number of companies that have resumed work and production has also reached nearly 13,800, a 2.2-fold increase from the previous month. However, what is concerning is that as many as 53,900 companies exited the market in the same month, a year-on-year increase of 22.8%, indicating that market competition is fierce and some companies have failed to survive.

Tourism growth
In the field of tourism, Vietnam has shown strong growth momentum. In January, the number of international tourists reached 1.5 million, a month-on-month increase of 10.3%, and a year-on-year increase of 73.6%. This is due to Vietnam’s tourism promotion and implementation of promotional policies, as well as its continued appeal as a safe travel destination.

Freight and passenger traffic
Cargo volume is expected to reach 205 million tons in January, up 1.8% month-on-month and 11.5% year-on-year, despite a slight decline in cargo throughput. Passenger traffic is expected to be 392.7 million passengers, an increase of 3% month-on-month and 5.5% year-on-year.

Consumer Price Index (CPI)
The consumer price index (CPI) in January increased by 0.31% month-on-month and 3.37% year-on-year, and core inflation increased by 2.72%. Factors in the increase include price increases for medical services, housing construction, transportation and other goods and services. In particular, medicines and medical services have seen the highest increases, and prices in the housing construction group and transportation group have also increased significantly. At the same time, prices for postal and telecommunications groups and education groups fell, reflecting the diversity and dynamics of the market.

Comprehensive analysis
Overall, Vietnam's macroeconomic report for January 2024 reveals a complex picture: the business market is active but fiercely competitive, tourism is growing rapidly, freight and passenger volumes are rising steadily, while the moderate rise in CPI reflects certain price pressures . The data provide insight into Vietnam's economic conditions and provide important indications of future trends.

For more information about real estate projects in Ho Chi Minh City and neighboring provinces, please contact FTT LAND!

------------------------------------------
FTT REAL ESTATE COMPANY

Headquarters in Vietnam: EA4-01.01 Eratown Duc Khai, Nguyen Luong Bang, Phu My Ward, District 7

Receive consignments for buying, selling and renting apartments, updating the best prices in the market

HOTILINE: +(84) 81.299.1003

┃For inquiries: 黎娟娟/Winnie - FTT Land Real Estate

┃Vietnam Hotline: (+84) 902.823.622 (viber/zalo/Whatsapp)

┃Taiwan Hotline: (+886) 906.975.509

┃ID (Line/IG/Tiktok): winniele88888

┃Wechat ID ：Winniele88888888

┃Watch more on YOUTUBE: FTT REAL ESTATE

┃Website: www.fttland.com