Exports stable, new order output increases again

According to a report by S&P Global, business conditions in Vietnam's manufacturing sector improved slightly in September, with new orders rising slightly, but employment continued to decline and inflationary pressures increased.

“There was good news on the demand front for Vietnamese manufacturers in September, with new orders rising again and even exports, which had been falling steadily since late last year, showing signs of stabilising,” said Andrew Harker, chief economist at S&P Global Market Intelligence. “The clearer picture on tariffs appears to have helped improve customer demand for Vietnamese companies.”

Higher export stability is also expected to support growth next year, but business confidence remains low as the recent demand picture remains bleak, according to S&P Global economists. Another point to note is that inflationary pressures could intensify in the coming months, as input costs and corporate selling prices have risen sharply in recent months. If this trend continues, price pressures will limit demand.

S&P Global data for September also showed that international demand remained weak, but the stability of US tariff policies helped some companies secure new orders from abroad. Another bright spot was that companies increased purchasing activity for the third consecutive month amid increased demand for output. However, input inventories fell, due to the use of purchased items to support production; finished goods inventories also fell, the largest decline since July 2024.

Firms also reported that suppliers' delivery times lengthened for the 13th consecutive month in September. However, firms expect a more stable economic environment to boost new orders and output in the new year. Public sector investment is also expected to support growth, and firms remain optimistic about the outlook for the year ahead, although the level of optimism is weaker than the index's historical average.

In the first 9 months of 2025, the PMI index of Vietnam's manufacturing industry had 4 months above the 50-point threshold (March, July, August, September) and the remaining 5 months below the 50-point threshold.

G.BAO

Source: https://baocantho.com.vn/xuat-khau-on-dinh-san-luong-don-dat-hang-moi-tang-tro-lai-a191577.html