Eurozone gdp growth rate

The Hanoitimes - Vietnam’s shrimp exports will be the main growth engine of the seafood sector this year. A recovery in Indian supply after Covid-19 may hamper growth of Vietnamese shrimp exports in 2021, according to SSI securities corporation (SSI Research). Vietnam’s shrimp exports will be the main growth engine of the seafood sector this year. Photo: vcci.com.vn Major shrimp exporting countries like India, Ecuador and Thailand suffered heavily from the impacts of Covid-19 last year, Indian shrimp production was estimated to drop by more than 20% in 2020, according to Undercurrent News. Due to the short cycle of shrimp farming (only 3-4 months), the competition between Vietnam and India in the US and EU, which currently contributes 37% of the export value of Vietnamese shrimp, is predicted to become more intense in the second half of 2021. The Vietnam Association of Seafood Exporters and Producers forecast that the country’s seafood exports can grow 10% year-on-year and reach US$9.4 billion in 2021 which is higher than the average rate of 6.8% in 2016-2019. Shrimp exports are expected to increase 15% compared to 2020, with a revenue of US$4.4 billion in 2021. Chart: Shrimp and panagsius value, by year (US$ billion). Sources: Bloomberg & SSI Research Consumption of seafood in the US and EU could increase when the vaccination against Covid-19  becomes widespread in these two markets in the second half of this year, then encouraging more consumers go out for eating at restaurants instead of staying home. Vietnam managed to partly avoid impacts of the pandemic thanks to the effective pandemic control work, leading growth in shrimp export turnover in 2020 of up to 11% compared to 2019. For Vietnamese pangasius, it is estimated that a recovery in both output and average selling price will drive export growth for the whole year of 2021. SSI Research has forecast that Aquaculture Stewardship …

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Techcombank's credit market share increased 86 basis points in the past five years. — Photo nhipcaudautu.vn Private banks have posted significant growth in credit market share in the past five years. According to statistics from Viet Dragon Securities Company (VDSC), 26 listed banks by the end of 2020 increased their total credit market share to 71.3 per cent from 65.4 per cent at the end of 2015. Of which, the group of private banks, whose credit market share is more than 2 per cent each, posted a 3.5 per cent growth in credit market share in the period, VDSC statistics showed. In which, MBBank ranked first with an increase of 90 basis points, followed by Techcombank and VPBank with rises of 86 and 78 basis points, respectively. The three banks also had compound annual credit growth of more than 20 per cent while their capital adequacy ratios also topped the list. Sacombank was the only bank to lose credit market share with a reduction of 2 basis points. VDSC’s statistics also showed banks made a strong shift to corporate bonds in 2020 so as to spur credit growth in the year when loan demand was affected adversely. The contribution rate of corporate bonds to banks’ credit growth in 2020 ranged from 20-38 per cent. According to VDSC, Viet Nam's economy has been heavily dependent on credit. Therefore, to maintain the country’s GDP growth rate of 6-8 per cent in the coming years as projected, VDSC estimated the credit growth of the banking industry to stay at double digits. VDSC forecast credit growth of the banking industry this year would be 13.1 per cent on average. Major private banks, including Techcombank, MBBank, VPBank and ACB, are expected to maintain their credit growth higher than the industry’s average rate. The State Bank of Viet Nam (SBV) targeted a credit growth rate of 12 per cent this year, equivalent to the growth of 12.13 per cent last year. However, it said the goal was not a fixed figure, as it might adjust it if necessary. …

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Việt Nam continues successful economic story. — VNA/VNS Photo BERLIN — Credendo Group’s offices in Germany and Austria have published a study to evaluate the level of risk in Việt Nam, which emphasises that the Southeast Asian country is continuing its successful economic story after its good performance in controlling the COVID-19 pandemic. The article quotes the latest country study of Credendo, saying that Việt Nam has been one of the few highly resilient countries during the unprecedented COVID-19 shock. The swift, strict and very effective containment of the virus after the outbreak in neighbouring China largely explains this, it says, noting that an early travel ban, testing and wide-scale contact tracing on top of the containment measures have helped keep the virus under control. While most countries were severely hit and hindered by the economic impact of the virus, Việt Nam’s economy continued to operate at a good albeit slower pace despite an initial high level of business disruption, it says. Credendo's study shows that in 2020, Việt Nam had exceptional economic performance while advanced and emerging economies in all the world’s regions have suffered a record recession. The study says for Việt Nam, the global demand slump was more than offset by the strong global demand for medical products, electronics and computers resulting from the COVID-19 crisis. Hence, exports of goods grew last year. Increased public investments in infrastructure also played a significant role in supporting economic activity. A more accommodative monetary policy – including the State Bank of Việt Nam’s policy interest rate cut from 6 per cent to 4 per cent – brought an extra stimulus. According to Credendo, Việt Nam remains largely immune to the further waves of the virus that are currently affecting many parts of the world. Hence, the Vietnamese authorities will take time to vaccinate the population. Việt Nam is confidently looking ahead to …

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