# Vietnam in strong position to defend against external shocks: HSBC

> HSBC says Vietnam is well placed to absorb external shocks from Covid-19, citing a record 2019 balance-of-payments surplus of US$23 billion, or 9% of GDP. The bank expects this to give the central bank room to cut interest rates to support growth.

- Date: 2020-05-18 · published 2020-05-18T12:00:00.000Z
- Category: macro · region Vietnam · magnitude low
- Page: https://feedsoft.ai/events/53429-vietnam-in-strong-position-to-defend-against-external-shocks-hsbc
- Commodities: [Vietnamese Dong (VND per USD)](https://feedsoft.ai/c/USDVND.md)

## Why it matters

Stronger external buffers support the dong and Vietnamese import capacity, which sustains feed demand, though the effect on global feed prices is limited.

## Sources

- hanoitimes.vn: https://hanoitimes.vn/vietnam-in-strong-position-to-defend-against-external-shocks-hsbc-312114.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.