Gdp Growth

A resurgence of Covid-19 in a number of countries across the world and geopolitical tensions between major powers continue to pose major risks to Vietnam’s economy.

Vietnam is one of the few Asian economies to have registered positive growth so far this year, despite the second wave of infections.

The country would remain the only one with positive growth among five major economies in ASEAN, and its economic growth would rebound to 6.7% in 2021.

Vietnam has been successful in realizing the dual target of both containing the pandemic and boosting economic growth, which has translated into higher economic performance in September.

Fitch Solutions maintains forecast for an 8.2% rebound in 2021, assuming freer international movement of persons.

Although the country’s GDP growth in the third quarter is estimated at a decade-low of 2.62%, this is an improvement from the 0.36% growth in the second quarter.

This year, Vietnam targets economic growth of 2% in normal conditions and 2.5% if favorable factors emerge.

Goldman Sachs expected exports to be Vietnam’s major driving force for economic recovery.

In 2020, Vietnam’s GDP growth is set to hit 2.3% and then rebound strongly to 8% in 2021.

Fitch Rating is still maintaining its growth forecast for Vietnam at 2.8% in 2020 and 7.5% in 2021, despite the Covid-19 resurgence in late July.