The economy that COVID-19 could not stop

Having impressed the world by taming the virus last year, Vietnam is now in the middle of its worst outbreak of Covid-19 by far. Parts of the country are in strict lockdown and a swathe of factories, from those making shoes for Nike to those producing smartphones for Samsung, have either slowed or shut down, disrupting global supply chains. Yet integration with global manufacturing has kept Vietnam’s economy humming during the pandemic. ​

In 2020 GDP rose by 2.9% even as most countries recorded deep recessions. Despite the latest outbreak, this year could see even faster growth. The World Bank’s latest forecasts, published on August 24th, point to an expansion of 4.8% in 2021.

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