29/05/2015 15:35 GMT+7 Email Print Like 0

Vietnam to be among Ireland’s fastest growing partners

Hanoi, May 29 (VNA) – In the next 15 years, Ireland’s fastest growing trade partners will be Asian economies like Vietnam, India and Malaysia, unveiled a recent report from HSBC.

In the period, the fastest-growing origins of mechandise imports for Ireland will be China, Vietnam, India and Malaysia, all with an expected export growth of around 11 percent each year, said the report released on May 28.

The report predicted the European country’s external trade outlook as being “bright”, following the healthy growth of the US and UK along with weaker euro maintaining momentum of export.

Low oil prices and improved consumer confidence will contribute to the recovery of domestic demand, it said.

“As well as strong export growth and an unfolding recovery in investment levels, consumer spending should also revive over medium term, as economic conditions improve and debt levels fall.”

Thus, HSBC research projects Ireland’s real GDP to be at around 2.8 percent per annum from the decade through 2030.
VNA/VNP