Vietnam and South Korea Economies Relatively OK in 2020 Pandemic

Vietnam and South Korea Economies Relatively OK in 2020 Pandemic

Vietnam and South Korea Economies Relatively OK in 2020 Pandemic

Brian Wang |
October 4, 2020 |

Vietnam has increased its 2020 GDP growth target to 3.0% according to the VN Express. The target is 0.5 percentage points higher than the target announced last month.

Vietnam has been among the most successful countries at containing Covid-19. They stopped COVID in March and July.

Vietnam’s GDP growth fell to a 10-year low of 2.12 percent in the first nine months. The US appears like it will shrink by 4% in 2020 and Europe could shrink by 8%. In 2019, Vietnam had 7.0% GDP growth.

South Korea is doing fairly well with an estimate of -0.8% GDP growth for 2020 from the IMF. This estimate was increased from the previous estimate. South Korea has 25% of its trade with China. China is expecting about 3% GDP growth for 2020. South Korea has also had very good handling of the pandemic.

SOURCES – IMF, VNExpress, OECD


Written By Brian Wang, Nextbigfuture.com

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