Bloomberg: VN’s economy unexpectedly expands

Bloomberg on June 29 published an article saying that Viet Nam’s economy unexpectedly expanded even as exports slumped.

Gross domestic product rose 0.36% from a year earlier, compared with a revised 3.68% in the first quarter, the General Statistics Office said in Ha Noi on Monday. 

The median estimate in a Bloomberg survey of economists was for GDP to shrink 1.3%.

Viet Nam’s export-reliant economy was affected as the virus disrupted global supply chains and hurted demand. Still, the Southeast Asian economy is likely to be one of the better performers in the region this year. 

Earlier, PM Nguyen Xuan Phuc said in May that the economy could sustain growth of 4%-5% this year as the government looked to attract more foreign investment from businesses seeking to readjust their supply chains./.

By Kim Anh