Vietnam’s growth prospects will depend on how well and how quickly the authorities bring the new coronavirus outbreak under control and how quickly international and national vaccinations proceed.
In its Vietnam Macro Monitoring report issued earlier this month, the World Bank said January’s industrial production index jumped by 24.5% year on year, the highest growth rate since the beginning of 2019.
Merchandise exports and imports respectively grew 51.8% and 41.8% from the same period last year. Vietnam’s exports to the US and China continued the robust growth of 2020 while those to the EU, ASEAN, Japan and the Republic of Korea bounced back strongly.
Similarly, imports from the Korea, ASEAN and the US joined those from China, Japan and the EU to stay in expansionary territory.