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Macro Update - COVID-19 fourth wave slows pace of recovery

Macroeconomics

08 Jul 2021

Vietnam’s GDP expanded 6.61% in Q2 2021 despite the fourth wave of COVID-19. Despite the fourth wave of COVID-19 community spread, Vietnam’s GDP expanded 6.61% in Q2 and 5.64% in H1 2021 (vs 1.82% in H1 2020 and 6.77% in H1 2019). Among the three main sectors of the economy, the industry and construction sector posted the strongest growth — 8.36% YoY in H1 2021 (vs 2.91% in H1 2020). Notably, the manufacturing sub-sector increased 11.42% YoY in H1 2021 — the second highest H1 level

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