Hanoi, April 24 -- Standard Chartered Bank has lowered Vietnam's GDP growth forecast in 2024 to 6% from the previous 6.7% due to lower-than-expected Q1 growth and global trade headwinds.

However, it is still an improvement from 5% in 2023. The country's Q1 GDP growth moderated to 5.7% (from 6.7% in Q4-2023). The bank lowered Q2 year-on-year growth forecast to 5.3% (from 6.3%) and Q3 to 6%. But Q4 growth is expected to be recovered to 6.7%.

According to Standard Chartered's economist in its recent macro-economic updates about Vietnam , trade, a key source of growth and investment for Vietnam also faces short and long term challenges. However, Vietnam's recovery remains intact despite risks. Retail sales growth was still robust in Q1.

St...