Vietnam Economic Outlook
August 25, 2020
After virtually flatlining in Q2, the economy appeared to gain momentum at the outset of Q3, supported by the lifting of restrictions abroad. In July, exports stabilized after plunging in Q2, while retail sales expanded at a solid pace and industrial production edged up. Less positively, the ongoing travel ban meant that there were effectively no international visitors, hurting the important tourism sector. In addition, the country has seen a second wave of coronavirus cases centered on the coastal city of Da Nang in recent weeks. While a national lockdown has not been implemented, some localized restrictions have been reinstated, which, coupled with a possible hit to consumer confidence, could hamper domestic demand somewhat in the remainder of Q3.Vietnam Economic Growth
Economic growth is expected to slow notably this year on weaker exports and fewer tourist arrivals. However, Vietnam should still be by far the strongest performer in ASEAN. Risks to the outlook stem from a possible broader reinstatement of domestic restrictions to curtail the second wave of cases, and a potentially weak recovery in external demand. FocusEconomics panelists project the economy will expand 2.7% in 2020, which is unchanged from last month’s forecast, and 7.5% in 2021.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: Industrial output deteriorates in August
August 29, 2020
Industrial production fell 0.6% year-on-year in August (July: +1.8% yoy), chiefly due to weaker mining activity and stagnant manufacturing. The trend pointed down, with the annual average growth of industrial production coming in at plus 4.1% in August, down from July’s plus 5.0%. Looking ahead, industrial production should recover as economic activity ramps up abroad.
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Vietnam: Inflation decreases in August
August 29, 2020
Consumer prices increased 0.07% in August over the previous month, after the 0.40% rise logged in July.
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Vietnam: Inflation hits highest level since March in July
July 29, 2020
Consumer prices rose 0.40% over the previous month in July, coming in below June's 0.66% increase.
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Vietnam: Industrial output growth slows in July
July 29, 2020
Industrial output grew 1.1% year-on-year in July (June: +7.2% yoy).
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Vietnam: Economy virtually flatlines in Q2, improved performance expected in second half
June 29, 2020
The economy expanded 0.4% year-on-year in Q2 according to recent data, down from Q1’s revised 3.7% growth (previously reported: +3.8% year-on-year) and broadly in line with FocusEconomics panelists’ expectations.
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