This is Asia’s top-performing economy in the Covid pandemic, it’s not China
SINGAPORE — Vietnam is likely the top-performing Asian economy in 2020 — a feat that was achieved without a single quarter of economic contraction at a time when many economies globally were weighed down by the coronavirus pandemic.
Not every Asian economy has reported fourth-quarter and full-year economic numbers. But estimates compiled by CNBC from official sources — where available — and institutions such as the International Monetary Fund showed Vietnam outperforming all its regional peers last year.
The Vietnamese economy grew 2.9% last year from a year ago, according to government estimates released in late December. That’s better than China’s forecast-beating 2.3% growth during the same period.
“With this performance, Vietnam has delivered one of the highest growth (rates) in a year where the rest of the world were in deep recessions,” economists from Bank of America Global Research said in a report …continued .
[Source: CNBC News]