Vietnam Economic Outlook
December 16, 2021
A solid rebound appears likely in Q4 after the economy slumped into a historic contraction in Q3. The manufacturing PMI inched further into expansionary territory in November—having rebounded in October following four straight months of deteriorating conditions—indicating an accelerating recovery on a demand-driven increase in production. Moreover, industrial production sprang back into growth in November, while exports grew at the fastest pace in five months in the same month. However, daily Covid-19 cases have once again risen to near-record highs, and while a rapid vaccination campaign in recent months should help limit pressures on the health service, associated domestic restrictions have been maintained in key economic centers such as Hanoi. This comes as authorities plan to ease entry restrictions for fully vaccinated international visitors from 1 January 2022 in a bid to bolster tourism in the new year.Vietnam Economic Growth
The economy is estimated to grow at the fastest rate in the region in 2022, following this year’s projected solid expansion. Higher growth in consumer and capital spending, combined with a robust external sector, should boost activity next year. However, the threat of further outbreaks amid the spread of the Omicron variant clouds the outlook considerably. Our panelists expect GDP to expand 7.3% in 2022, which is up 0.1 percentage points from last month’s forecast, and 6.9% in 2023.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 decreases in December
December 29, 2021
Consumer prices fell 0.18% from the previous month in December, contrasting the 0.32% rise logged in November.
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Vietnam: Economy rebounds sharply in Q4; 2021 overall GDP growth lowest in at least two decades
December 29, 2021
GDP expanded 5.2% year-on-year in the fourth quarter of 2021, contrasting the 6.0% contraction recorded in Q3 that had marked the sharpest downturn in the economy since records began in 2000.
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Vietnam: Industrial activity accelerates in December
December 29, 2021
Industrial output grew 4.5% year-on-year in December, rising from November’s 2.0% increase and marking the highest reading in seven months.
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Vietnam: Inflation rises in November
November 29, 2021
Consumer prices rose 0.32% over the previous month in November, contrasting October's 0.20% fall.
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Vietnam: Industrial activity rebounds in November
November 29, 2021
Industrial output rebounded 5.6% year-on-year in November, contrasting October’s 5.9% decline.
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