Vietnam | Role as a global manufacturing hub will fuel growth
Vietnam’s transformation into a global manufacturing hub over the past decade helped it outperform most economies in 2020 and further strengthened its share of global electronics and manufacturing exports. We forecast these trends will continue over 2021 and beyond.
What you will learn from this report:
- Why Vietnam will account for around 4% of global electronics exports in 2025.
- 10% tariff on textiles, telecommunications, computers, and furniture exports to the US (US$40.3bn) would cut GDP growth to an average of 6.4% over 2021-2022 versus our baseline of 7.2%. GDP levels would be US$98bn lower by the end of 2025.
- US doesn’t have the appetite to further disrupt its own companies’ supply chains. We believe Vietnam’s strategic importance in countering China’s influence in the region will prevent any widespread action
Tags:
Related Services
Post
Asia Pacific: Exports are Riding the AI Frenzy
Asia has been at the forefront of the recent global AI frenzy. That partly reflects the region's importance in global semiconductor supply chains. Global companies specialising in different stages of production can be found across Asia.
Find Out More
Post
Job growth is slowing, but disparities persist across cities
Labour markets are forecast to cool across the world's major cities this year, marking the end of the Covid-19 catchup for some while others face the effects of demographic constraints. This trend of cooling employment growth is expected to largely continue over 2024–2028—with a few notable exceptions—but cities are still set to outperform their national economies.
Find Out More