The Impact of Covid-19 on Income, Poverty and Inequality in Vietnam
Abstract
The Covid-19 outbreak has had significant human
and economic impacts for Vietnam, as it has for
many other countries, with a large number of people
having sunk down into extreme poverty. The Covid-19
pandemic slowed global GDP and increased global
poverty, with the poorest countries feeling the
greatest impact.
Vietnam’s first detected case of Covid-19 was
reported in Ho Chi Minh City on 23 January 2020, and
infections spread quickly across the entire country.
The Government restricted international travel,
suspended visas for foreigners entering Vietnam,
and closed all schools between February and April
2020.
Key sectors of Vietnam’s economy have faced
serious challenges, from trade to hospitality, and
global lockdowns and economic slowdowns have
affected vital sources of income for many families,
such as the remittances sent home by international
and internal migrants. Migrant families, in particular,
may be severely affected by the Covid-19 pandemic.