Standard Chartered expects Viet Nam to continue recording strong performance in 2021
Standard Chartered Bank has forecast that Viet Nam’s GDP growth will accelerate to 6.7 per cent in 2021 and 7.3 per cent in 2022.
Standard Chartered Bank has forecast that Viet Nam’s GDP growth will accelerate to 6.7 per cent in 2021 and 7.3 per cent in 2022.
“Viet Nam’s economic fundamentals remain robust. The country has been one of the world’s best-performing economies during the pandemic; that said, we are closely watching the domestic COVID-19 situation,” said Tim Leelahaphan, Economist for Thailand and Viet Nam, Standard Chartered, in the bank’s recent Global Research report entitled 'Viet Nam – strong performance continues this year'.
Viet Nam began vaccinations on March 8, with about 1 million of the population of 96 million having been vaccinated, mainly frontline medical workers. Wider vaccination rollout is a precondition for a tourism rebound and a sustainable economic recovery, according to the UK-based bank.
Standard Chartered’s economists point out that trade data has maintained the positive momentum seen last year. Exports of telephones and parts (16 per cent of total exports) and electronics, computers and parts (15 per cent) may have gained strongly in May. Viet Nam recorded a trade surplus of US$1.3 billion in the first four months of the year.
The bank anticipates faster economic growth may push up inflation, and rising food prices globally are feeding through to local inflation. It expects Viet Nam’s 2021 average inflation to be at 3.8 per cent. — VNS
