Vietnams 2021 Economic Recovery

Richard Burrage
Oct 10, 2021

Vietnam is open for business again in October 2021, after four months of economic interruptions in efforts to protect health and save lives. The mid-term prospects for Vietnam’s economic recovery are strong.

However, consumer spending will only return to pre-pandemic 2019 levels after 18 to 24 months. This pandemic will force a sharp drop in discretionary expenditure.  There will be GDP growth of approximately 2.4% in 2021. This is the lowest level since 1986 which recorded a 2.3% growth. It will be less than 2020 which recorded 2.9% and in sharp contrast to the 7.0% growth achieved in 2019.