Vietnam records negative growth for first time due to the severe impact of the fourth wave of COVID-19. Strict lockdowns and social distancing measures implemented in 19 southern provinces and Hanoi severely impacted economic activity and GDP in Q3 2021. Vietnam’s GDP declined 6.17% YoY in Q3 2021 — the lowest level ever recorded. However, Vietnam still achieved 1.42% YoY growth in 9M 2021 (vs +2.7% in 9M 2020) thanks to the strong performance in the first half of the year (+5.64% YoY in H1 2021).

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