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: Inflation rises in March
March 29, 2021
Consumer prices fell 0.27% over the previous month in March, swinging from the 1.52% rise logged in February.
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Vietnam: Industrial output rebounds in March
March 29, 2021
Industrial production rose 6.1% year-on-year in March, rebounding markedly from February’s 7.2% decline.
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Vietnam: Economy records solid growth in Q1
March 29, 2021
GDP growth clocked in at 4.5% year-on-year in the first quarter of 2021, matching the growth rate from Q4 2020.
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Vietnam: Industrial output shrinks for first time in 10 months in February
March 1, 2021
Industrial production fell 6.1% year-on-year in February (January: +24.4% yoy).
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Vietnam: Inflation returns in February
February 26, 2021
Consumer prices rose 1.52% from the previous month in February, following January's 0.06% increase.
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