The Impact of COVID-19 on GDP’s Growth: a comparison of Vietnam and Singapore

Abstract

The study provides a comparative analysis of the impact of COVID-19 on the economies of Vietnam and Singapore in terms of GDP growth. A regression analysis was conducted for both countries to determine the COVID-19 effect on their economies in 2020 and 2021. The findings indicate that Vietnam suffered a negative COVID-19 effect in both years, yet still managed to maintain a positive growth rate. On the other hand, Singapore was hit severely in 2020 but bounced back strongly in 2021 due to its role as a middleman for global transportation. Singapore's recovery was supported by its emphasis on trading and retailing and semiconductor manufacturing. It is suggested that the impact of COVID-19 on economies varies depending on the country's industry and its ability to adapt to a disrupted global supply chain.