The impact of

Covid-19
pandemic on
economies
in Vietnam
 OUTLINE
Overview of the Coronavirus disease in
Vietnam

Impact of the Covid-19 pandemic on Vietnam's economy:

The demand of The supply of Service Impact on export - Impact on

the economy the economy industries import GDP

Vietnam's achievements during the pandemic

Some solutions for Vietnam

01 Overview of the
Coronavirus
disease
Timeline of the COVID-19 pandemic in Vietnam

FIRST The first deaths due to 8.063 Infected case

OUTBREAK COVID-19 occurred in 3.085 recoveries
December 2019 in
Wuhan, China.  Vietnam 49 deaths
On 31 July 2020

THE FIRST CASE OF First doses of vaccine

INFECTION IN VIETNAM against COVID-19
on 23 January 2020 3 March 2021

back
 Impact of the Covid-19
02 pandemic on Vietnam's
economy:
The demand of The supply of
the economy the economy

Service Impact on export - Impact on

industries import GDP
 The demand of the economy
1/ CONSUMPTION

• Retail sales of goods in the first 6 months of 2020 increased by 3.4% over the same period in
2019.
 In the first 6 months of 2020, the total retail sales of consumer goods and services decreased
by 0.8% compared to the same period in 2019
 The demand of the economy
2/ INVESTMENT

• In the first 6 months of 2020,

social investment capital
increased by 3.4% over the
same period last year of which
the FDI sector decreased by
3.8%
 In a time of economic
difficulties, the government
played an important role in
limiting the decline in aggregate
demand.
 The supply of the economy
1/ COVID-19 IMPACT ON INPUT SUPPLY
Preliminary Imports of goods in 2019 Preliminary Imports of goods in 2020
6% 6%
13% 14%
Food
14%
Fuel, raw materials and
20% other chemistry
8%
Machinery, electronic
devices and components
4%
26% Clothes and clothing
accessories
7%
Vehicle and vehicle
components

24% Metal goods

8% 47% Other goods

3%
 Import turnover of the group of input material reached 245.6 billion USD, up 4.1%
compared to 2019.
 Imports of machinery, electronic devices and components increased sharply 23.32%.
 Strong recovery in production.
 The supply of the economy
2/ COVID-19 IMPACT ON LABOR MARKET
Number of underemployed people in working age and the underemployment
rate in quarters between 2019 and 2021
1400.0 1282.0 1225.2 3.50
1200.0 2.98 3.00
2.72 971.4
1000.0 892.7 828.2 2.50
2.20
800.0 642.6 1.98 1.82
2.00
596.3 584.2 546.4
600.0 1.42 1.50
1.32 1.28 1.19
400.0 1.00
200.0 0.50
0.0 0.00
Quarter I Quarter II Quarter III Quarter IV Quarter I Quarter II Quarter III Quarter IV Quarter I
of 2019 of 2019 of 2019 of 2019 of 2020 of 2020 of 2020 of 2020 of 2021

Number of people Rate (%)

(thousand people)
 The number of underemployed workers in I/2021 is 971.4 thousand people.
 increase of 143.2 thousand people compared to the previous quarter.
 increase of 78.7 thousand people over the same period in 2020.
 The underemployment rate of laborers in working age in I/2021 is 2.20%.
 Increase of 0.38% compared to the previous quarter.
 Increase of 0.22% compared to the same period in 2020.
According to Vietnam GSO
 The supply of the economy
2/ COVID-19 IMPACT ON LABOR MARKET
Number of laborers over fifteen in quarters
from 2019 to 2021
52.0 51.1 50.9
50.5
51.0 50.3 50.6
50.1 50.0 49.9
50.0
Million people

49.0 48.1
48.0
47.0
46.0
Quarter I Quarter II Quarter III Quarter IV Quarter I Quarter II Quarter III Quarter IV Quarter I
of 2019 of 2019 of 2019 of 2019 of 2020 of 2020 of 2020 of 2020 of 2021

 The number of employed workers decreased by nearly 2 million people (I/2020 -> II-2020)
 In the next two quarters in 2020, employed workers increased to 50.9 million people.
***By the first quarter of 2021, the third outbreak of the Covid-19 pandemic reduced the recovery
of the labor market.
 Employed workers decreased to 49.9 million people  down 1.8% compared to the previous
quarter and down 0.36% over the same period in 2020. back
Service industries
Projected and services sector growth after Covid-19 out break in
Vietnam in the first two quarters of 2020
7.1
6.9
6.7
6.5
6.3
6.1
5.9
5.7
5.5
01 2020 Q2 2020 6M 2020 03 2020 9M 2020 Q4 2020 Ful year
2020
Scenario 1 (Covid-19 ends in Q1 2020) Scenario 2 (Covid-19 ends in Q2 2020)

In the case that the coronavirus can be contained in the second quarter of
2020, the services sector was projected to increase by 6.47 percent.
Service industries

The flight bans, travel restrictions and the fear of tourists due to fear of the impact of the Covid-19
epidemic have caused many hotels, restaurants and retail chains in tourist destinations to become
empty, with no revenue. ---> The tourism industry declined sharply.
Service industries
Number of International visitors had a decline.

 For the nine months of 2020, international visitors arrival to our country reached 3,788.5
thousand, down 70.6% over to  the same period last year
 If we take a look more deeper. The number for tourist travel by airway dropped 70%,
Roadway dropped 76.4% and Seaway dropped 23.8%.
 Impact on export - import

EXPORT
*** With the goal of "both disease
prevention and socio-economic
development"
• The export turnover of goods
reached 281.5 billion USD, an
increase of 6.5% compared to
2018.
• The balance of trade in goods in
2020 is estimated to have a trade
surplus of 19.1 billion USD. The
trade surplus set a new record
 Impact on export - import

IMPORT
• Although imports are
restricted due to the
development of the
epidemic, imports are
controlled.
• Import reached 262.4
billion USD, up 3.6%
compared to 2019
and up 9.7%
compared to 2018.

back
 IMPACT ON
GDP
GDP growth rate of Vietnam
(YoY)
8 7.31 7.31
6.88 6.79 6.73 6.97
7
6
5 4.48 4.48
3.82
percent

4
3 2.62
2
1 0.36
0
Q3- Q4- Q1- Q2- Q3- Q4- Q1- Q2- Q3- Q4- Q1-
2018 2018 2019 2019 2019 2019 2020 2020 2020 2020 2021

Growth in the first nine months dropped to 0.36%  On a larger scale, this is a
good indicator in the context of the pandemic, however, on a smaller one, this is the
worst for the Vietnamese economy over the past 35 years.
(Source: the data is taken from the General Statistics Office of Vietnam)
 IMPACT ON
GDP

GDP growth
World Bank's forecast
4

2
2.8%
2% 1.9%
0 0.2%
-1.5
-2.8
-2 -4.4
-6
percent

-7.1
-4 -8.3

-6

-8

-10
Vietnam Myanmar China Laos Indonesi Cambodi Malaysia Thailand Philippin World
a a es

With a GDP growth of 2.8 percent, Vietnam will be among the fastest-growing
economies in a Covid-19-ravaged world in 2020, the World Bank says.
(Source: data.worldbank.org)
back
03 Vietnam's
achievements during
the pandemic
 2.8 % THE SCALE OF VIETNAM’S
ECONOMY
Is the GDP growth rate of
Viet Nam in 2020
Unit: billion USD

1,088.8 INDONESIA

509.2 THAILAND
THE
367.4
PHILIPPINES
343 VIETNAM

… the 4th largest economy

in Southeast Asia
 01/ INDUSTRY IN THE GENERAL GROWTH OF THE ECONOMY
● Contributed 1.62% points to the overall growth
● Achieved the highest growth rate with 3.98%

14,4%
14,4%
WHOLE
ECONOM
Coke, refined petroleum Y
Metal production

11.4%
27,1% 11,3
%

Drugs, pharmaceutical chemicals Electronic products, computer

and materials

Optical products back

 RETAIL SALES OF CONSUMER GOODS AND SERVICE
02/ SERVICE ● FIRST SIX MONTHS decreased by

1.2% compared to the same period

last year
● LAST SIX MONTHS reached 6.2%
● Bringing the domestic trade sector UP
2,6% for the whole year
GROWTH RATES OF SOME MARKET SERVICE
● FINANCIAL, BANKING AND INSURANCE
ACTIVITIES Increased by 6.87% Contributing 0.46 percent
points
ACCOMMODATION AND CATERING SERVICES
Decreasing by 14.68% Down 0.62 percentage points
TRANSPORTATION & WAREHOUSE Decreased by
1.88% decreasing by 0.06 percentage points
WHOLESALE & RETAIL Increase by 5.53%; contributing
0.61 percent points
 03/ EXPORT
● 19.1 billion USD was the record
high of the trade surplus of goods
5 consecutive years the trade
balance maintained the trade surplus
EVFTA brought positive signals to
the economy

● After 5 months of being

implemented, Vietnam's total export
turnover to the EU reached 15.4
billion USD, up 1.6% over the same
period last year.
● In 2020: exports to the EU reached
34.8 billion USD.
back
 SOLUTION
04 S
 S
1. MAINTAIN EFFECTIVE FINANCIAL SUPPORT

2. ENHANCE THE ACCESSIBILITY OF SUPPORT PACKAGE

3. ENCOURAGE IMPORTED GOODS REPLACEMENT

PRODUCTIVITY
4. STIMULATE MANUFACTURE FOR EXPORTATION

5. CONTINUE PREVENT THE SPREAD OF COVID-19

 S
1. MAINTAIN EFFECTIVE FINANCIAL SUPPORT

 Focusing on businesses, because

this is a closed sector. contributed
60% significantly to GDP growth (about
60%).
 S
2. ENHANCE THE ACCESSIBILITY OF SUPPORT PACKAGE
 S
3. ENCOURAGE IMPORTED GOODS REPLACEMENT
PRODUCTIVITY
4. STIMULATE MANUFACTURE FOR EXPORTATION

5. CONTINUE PREVENT THE SPREAD OF COVID-19

THE
END
Nguyễn Ngọc Thảo Vy (2011116630)
Lâm Tuyết Nhi (2011116504)
Hà Vũ Bảo Châu (2011116325)
Ninh Caly (2011116324)
Hứa Quang Huy (2011116403)
Bùi Hà Nhi (2011116501)
Lục Huệ Tâm (2011116552)
Trần Đinh Vũ (2011116627)