(Bloomberg) -- Vietnam’s economy unexpectedly grew in the second quarter despite a slump in trade amid the coronavirus outbreak.

Gross domestic product rose 0.36% from a year earlier, compared with a revised 3.68% in the first quarter, the General Statistics Office said in Hanoi on Monday. The median estimate in a Bloomberg survey of economists was for GDP to shrink 1.3%.

Key Insights

• Vietnam’s export-reliant economy is taking a knock as the virus disrupts global supply chains and hurts demand. Still, the Southeast Asian economy is likely to be one of the better performers in the region this year. Prime Minister Nguyen Xuan Phuc said in May that the economy could sustain growth of 4%-5% this year as the government looks to attract more foreign investment from businesses seeking to readjust their supply chains
• Exports fell 2% in June compared to a year earlier, while imports climbed 5.3%

Get More

• Consumer prices rose 3.17% in June from a year earlier. The government aims to cap average inflation at 4% this year

©2020 Bloomberg L.P.