Recovery from the COVID-19 Pandemic: The Case of Vietnam's Foreign Trade

Authors

Nguyen Thi Thu Hoan

Abstract

On a global scale, Vietnam is a low-middle income country with a high openness and effective export-oriented trade model. This article analyses the impacts of the Covid-19 pandemic on Vietnam's trade in 2020. The analysis, which is based on reports and data collected from international organizations and governmental bodies (notably the International Monetary Fund (IMF), Ministry of Industry and Trade, and General Department of Vietnam Customs), highlights how Vietnam's import and export situation has been affected by the Covid-19 Pandemic, and gives some major recommendations for the post-pandemic period. Specifically, this article focuses on analyzing changes in trade balance, import-export turnover, major trade partners of Vietnam, and USD/VND exchange rate. Research results show although Vietnam's trade has been affected by the pandemic in some ways, in general, the trade balance is not affected much. There is a clear sign of recovery in Q3/2020 thanks to the effectiveness of the government's responses to the pandemic. On that basis, this study provides a number of suggestions to continue increasing the efficiency of Vietnam's trade in the coming time.

Recommended Citation

Thi Thu Hoan, Nguyen (2021) "Recovery from the COVID-19 Pandemic: The Case of Vietnam's Foreign Trade," Journal of International Business and Law: Vol. 20: Iss. 2, Article 4.
Available at: https://scholarlycommons.law.hofstra.edu/jibl/vol20/iss2/4