According to the General Statistics Office (GSO) September update, though the nine-month growth figure was the lowest in the past 10 years, it was considered a success for Vietnam given the complex nature of the COVID-19 pandemic which has taken its toll on all economies globally, including Vietnam.

Commodity exports maintain a positive growth, which is one of the impressive bright spots of Vietnam's economic picture in the past 9 months. (Photo: baodauthau.vn)

S&P Global Ratings have predicted that Vietnam could be the 2nd most successful economy in recovery in the Asia-Pacific. Thanks to the government’s measures, the national economy has been put on track, obtaining initial encouraging results.

Vietnamese exports experienced a 4.2 percent year-on-year increase until September and posted a surplus more than twice higher than that of the same period in 2019. Despite the complications of international trade due to the pandemic, foreign sales maintained their good rhythm and in the first nine months of the year reached 202.86 billion USD. 35.6 percent of exports corresponded to state and local private companies, and the rest to those operating under the foreign investment regime.

Overall, Vietnamese foreign trade amounted to 388.73 billion USD, a year-on-year growth of 1.8 percent. Domestic consumption and investment remain the key driving force for further growth in the remaining months of this year.