The global biomedical refrigerators and freezers market is slated to magnify at a strong CAGR of 4.2% over the period amid 2016 and 2024. The market, which was worth $2.91 billion in 2015, is predicted to upswing to $4.28 billion by 2024…
BMI View: The Vietnamese economy is facing headwinds associated with harsh weather as well as adverse
conditions in global commodity trade. Nonetheless, we expect the situation to improve gradually over the
next year, mostly on the back of steady foreign direct investment inflows, robust domestic demand, growing
tourism and a resilient export sector. This bodes well for Vietnam's retail sector, which continues to attract
new international retailers and develop its infrastructure.
Key Views And Developments
? According to Vietnam's General Statistics Office, total retail sales of consumer goods and services in
Vietnam reached VND1,724trn (USD77.3bn) during the first half of 2016, increasing by 9.5% year-onyear
(y-o-y). Adjusted for inflation, the growth figure stood at 7.5% y-o-y.
? Over the next five years, we forecast that total household spending growth will average 9.2% per annum,
with the pace accelerating significantly toward the second half of our review period. Per capita spending
is set to increase from USD1,089 in 2015 to USD1,608 in 2020.