Despite the world being hit by the coronavirus pandemic economically, Vietnam will become the top-performing country in Asia.
Not every Asian economy has reported fourth-quarter and full-year economic numbers. However, Vietnam seems to have exceeded all estimates without contracting economic growth in even a single quarter.
Data compiled by IMF and other institutions stated that the country has so far outperformed all its regional peers in 2020. Vietnam’s economy grew by 2.9 percent last year, beating China which put up a 2.3 percent growth rate.
Vietnam’s economic growth rate is one of the highest in the world for 2020, a year marked by huge economies entering into recession and negative numbers as the pandemic took its toll.
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Despite being China’s neighbors, where the virus originated, Vietnam has reported only 1,500 cases so far and 35 deaths. Economists have projected that Vietnam’s growth rate run will continue this year as well, as the country remains largely unaffected by the pitfalls of the spreading virus.
World Bank has projected its economy growing by 6.7 percent in 2021 while Bank of America economists have forecast a 9.3 percent growth, much higher than is expected globally.
