Vietnam’s gross domestic product (GDP) increased by 2.62% in the third quarter. The growth is attributed to the gains in its manufacturing and export industries. This speeds up the country’s economic recovery from the decline experienced in the first half of the year caused by the pandemic.
Exports rise to 11% in the third quarter, primarily thanks to the 20% increase in exports of personal computers. The demand came from the students attending online classes and the workforce working from home around the globe. In September alone, exports grew by 18% compared to the previous year.
“Along with China, [Vietnam] is the only major Asian economy expected to register positive growth in 2020,” said Priyanka Kishore, head of India and South East Asia for Oxford Economics.