Vietnam Economic Outlook
November 17, 2020
The economy began the fourth quarter on a robust footing according to available data. In October, industrial production gained steam on a stronger manufacturing sector, while retail sales expanded notably and exports surged. However, the tourism sector remained downtrodden due to the border closure. This comes after activity accelerated in Q3 thanks to a rebound in the services sector and faster growth in industry and agriculture, amid the relatively successful containment of Covid-19. On the political front, in mid-November the National Assembly approved the 2021 budget, with both revenue and expenditure down from the original estimates made for 2020 as the government looks to rein in the budget deficit. The National Assembly also approved a 6% growth target for 2021—a goal our panelists judge to be easily achievable.Vietnam Economic Growth
Growth should jump next year, supported by a likely strengthening of the external sector, and Vietnam should continue outperforming its regional peers. The possible reinstatement of pandemic-related domestic restrictions and a potentially prolonged downturn in the tourism sector are downside risks, however. Our panelists expect GDP to expand 7.3% in 2021, which is unchanged from last month’s forecast, and 6.8% in 2022.Vietnam Economy Data
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Vietnam Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 3.38 | -0.13 % | Dec 31 |
| Exchange Rate | 23,173 | 0.01 % | Jan 01 |
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Vietnam Economic News
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Vietnam: Economic growth accelerates in Q2
June 29, 2021
GDP growth clocked in at 6.6% year-on-year in the second quarter of 2021, accelerating from the 4.7% growth recorded in Q1.
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Vietnam: Inflation declines to lowest level since March in June
June 29, 2021
Consumer prices increased 0.19% over the previous month in June, accelerating from May's 0.16% increase.
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Vietnam: Industrial output growth dips in June
June 29, 2021
Industrial output expanded 4.5% year-on-year in June, which was a moderation from May’s 11.2% rise.
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Vietnam: Inflation comes in at highest level since September 2020 in May
May 29, 2021
Consumer prices rose 0.16% over the previous month in May, swinging from April's 0.04% drop.
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Vietnam: Industrial output growth eases in May
May 29, 2021
Industrial output expanded 11.6% in year-on-year terms in May, which was a deterioration from April's 24.6% surge.
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