Ho Chi Minh City, the development driving force of the country, has reported growth at 1.02 percent in the first half of this year, according to data from the Department of Statistics.
Economic growth could reach 3.8% this year if there is no second COVID-19 outbreak in the second half of the year, according to experts from Vietnam Institute for Economic and Policy Research.
Vietnam’s effective containment of COVID-19 allows it to make a quicker rebound than other economies and its GDP growth can be around 2.3 percent this year, Sian Fenner of Oxford Economics said.
Vietnam estimated a trade surplus of $5.64 billion in first half of 2020 despite COVID-19 pandemic, expanding from $1.59 billion estimated for the same period of 2019, the General Customs Office said.
- Covid-19 pandemic hits Vietnam’s State-Owned Enterprises privatization plans 1
- Vietnam's export set to hit $340 billion in 2025 2
- Vietnam’s Jan.-July trade surplus widens to $8.4bln despite virus 3
- Vietnam bags $2bln from fruit and vegetable exports in first seven months 4
- Government gets $9.4bln from State-owned enterprise equitisation 5
- Central bank cuts compulsory reserve interest rates to support pandemic-hit economy 6
Several of the world's largest technology corporations plan to shift their production chains to Vietnam post-Covid-19, according to the Ministry of Industry and Trade.
A rebounding economy and a new trade deal are reasons why the outlook for Vietnam is positive despite the coronavirus pandemic, said UBS Research.
Vietnam’s banking sector recorded 3.26 percent credit growth in the first six months of 2020 thanks to recovery in May, State Bank of Vietnam Governor Le Minh Hung told Thursday cabinet meeting.
Da Nang’s economy shrank by 3.61 percent in the first half, its first contraction in the 23 years since it became a central-level city.
Vietnam’s economy is expected to recover in the second half of this year to 3%, from 2.8% previously since the country appears to have contained the Covid-19 outbreak domestically.
Despite travel bans from several countries that affected trade activities, Vietnam reported a trade surplus of $4 billion during the first half of this year, General Statistics Office said.
Vietnam’s gross domestic product (GDP) grew 1.81 percent in the first half of this year, the lowest growth rate since 2011, according to data released on Monday by the General Statistics Office.
Vietnam's consumer price index in June saw an increase of 0.66% against the previous month, but fell 0.59% from end-2019 and 3.17% year-on-year, according to the General Statistics Office.
Vietnam has attracted foreign investment of $15.67 billion as of June 20, witnessing a year-on-year decline of 15.1 percent, according to latest data from Ministry of Planning and Investment on Friday.
Vietnam’s economy is expected to grow 2.7% in 2020 while the world growth outlook for this year has been slashed to minus 4.9%, almost 2 percentage points below IMF April forecast.
Vietnamese government agency said Vietnam's plywood may be cleared of US duty circumvention accusations.
Vietnam’s economy is projected to grow 4.1% this year while economies in the region could face contraction between 0.5% to 6.5% due to impacts from COVID-19 pandemic, Asian Development Bank reported.