Vietnam inflation accelerates in May, trade deficit widens

Vietnam inflation accelerates in May, trade deficit widens HANOI, June 3 : Vietnam's inflation rate accelerated in May and its trade deficit widened from April, data showed on Wednesday, as the Southeast Asian economy feels the impact of the Iran war. The annual inflation rate came in at 5.6 per cent in May, compared with 5.46 per cent in April, the National Statistics Office said in a report. • Exports in May rose 18 per cent from a year earlier to $46.93 billion, while imports were up 33.8 per cent to $52.14 billion, resulting in a trade deficit of $5.21 billion, the NSO said. In April, the export-reliant nation posted a $3.28 billion deficit. • The annual growth in exports in May was less than a 21 per cent rise in April, while the pace of import growth edged up from a 32.5 per cent rise in April. • For the January-May period, exports rose 19.5 per cent from a year earlier to $215.66 billion, while imports were up 30.8 per cent to $229.46 billion, leading to a $13.8 billion trade deficit. • Industrial production in May rose 8.8 per cent from a year earlier, slower than April's 9.9 per cent expansion, the NSO said. • Retail sales in May rose 11.8 per cent from a year earlier. • Foreign investment inflows in the five-month period rose 9.6 per cent from a year earlier to $9.75 billion, compared with a 9.8 per cent rise in the January-April period.