Vietnam’s real GDP growth accelerated from 5.1% year-on-year (y-o-y) in Q312 to 5.4% in Q412, reinforcing our view that the economy is poised for a robust recovery in H113. Also, Vietnam’s trade surplus expanded in February 2013, amid a sharp decline in imports. Exports surpassed imports by US $900mn in February, after a revised US$776mn in January, according to preliminary figures released by the General Statistics Office. Imports fell to US$6.6bn in February from a revised US$10.7bn in January, while exports slipped to US$7.5bn from a revised US$11.5bn over the same period. Over the past two years, Vietnam’s infrastructure sector …
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