The news agency cited data from the Vietnam General Statistics Office released on June 29 that Vietnam’s gross domestic product (GDP) in the second quarter increased 0.36% and in the first quarter rose 3.68% compared to the same period last year.

Vietnam’s economy unexpectedly expanded in the second quarter despite the Covid-19 pandemic.

Meanwhile, the median estimate in a Bloomberg survey of economists was for the country’s GDP to shrink by 0.9%.

Vietnam's export-reliant economy is taking a knock as the virus disrupts global supply chains and hurts demand, but it is still likely to be one of the better performers in South-east Asia this year, the agency stated.

Vietnam’s GDP increased 1.81% during the first six months of 2020, the lowest first-half growth pace since 2011 which was mainly due to the impacts of the Covid-19 pandemic. It is however considered a decent growth rate compared to other countries in the region.

Positive growth was reached despite a 2% reduction in exports in June compared to a year earlier and a 5.3% increase in imports.

The country also reported a trade surplus of US$500 million (S$696 million) in June, compared with a US$900 million deficit in the previous month.

EVFTA, EVIPA approved to boost VN-EU economic, trade relations

National Assembly deputies officially ratified the Europe-Vietnam Free Trade Agreement (EVFTA) and the Europe-Vietnam Investment Protection Agreement (EVIPA) on Monday morning.

Economic resumption should go in line with Covid-19 prevention: committee

The resumption of socio-economic activities post-Covid-19 should be accompanied by absolute pandemic prevention, as the global epidemic is still developing in a complex manner around the world, according to the National Steering Committee for Covid-19 Prevention and Control.

Quang Ninh tops Vietnam’s provincial economic governance for third straight year

The northern province of Quang Ninh remains the most economically competitive province in Vietnam for the third consecutive year, followed by Dong Thap and Vinh Long in the Mekong Delta.

Bac Giang prioritizes Covid-19 control, gradually recovers socio-economic activities

(BGO)- The provincial People’s Committee (PPC) of Bac Giang province held an online conference with its 10 districts and city to evaluate the fight against Covid-19 pandemic. Le Anh Duong, PPC Vice Chairman, Deputy Head of the provincial Steering Committee for Covid-19 prevention and control chaired the conference.

Outcomes of 26th ASEAN Economic Ministers Retreat

The ASEAN Economic Ministers (AEM)-ASEAN Business Advisory Council (ABAC) Consultation and the 26th ASEAN Economic Ministers’ Retreat were held in the central city of Da Nang on March 10.

Source: NDO