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

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School of Business | Bachelor's thesis
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Date
2023
Major/Subject
Mcode
Degree programme
(Mikkeli) Bachelor’s Program in International Business
Language
en
Pages
56
Series
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.
Description
Thesis advisor
Decker, Christopher
Keywords
Vietnam, Singapore, developed economies, developing economies, economic indicators, country comparison, economics
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