February 5, 2020 / 4:52 AM / 13 days ago

Vietnam says Q1 GDP likely to shrink 1% y/y as Lunar New Year holidays, virus hurt

HANOI, Feb 5 (Reuters) - Vietnam’s gross domestic product in the first quarter of this year will likely contract 1% from a year earlier due to China’s fast-spreading coronavirus epidemic and a week-long Lunar New Year holiday, the government said on Wednesday.

Vietnam’s aviation, tourism, agriculture industries and exports are expected to take a hit from the epidemic, the government said in a statement.

“If Chinese economy slowed significantly, it would continue to impact Vietnam,” the statement said.

China, where the epidemic has killed 490 people, is Vietnam’s largest trading partner. (Reporting by Khanh Vu Editing by Shri Navaratnam)

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