Russia-Ukraine conflict unlikely to jolt Vietnam economy

While the Russia-Ukraine war may

, economists believe the overall effect on Vietnam's economy would be . Indeed, some of its consequences may , they say.

According to Nguyen Duc Thanh,

(VESS), Russia's is small, around $1.6 trillion, with similar to that of developing countries, because it only exports raw materials and does not produce high-technology products and services or export equipment.

Meanwhile, Russia imports largely consumer products and not much machinery. When compared to other

, Russia's economic openness relative to GDP is roughly 50%. As a consequence, Thanh believes that Russia's economic crisis will have minimal direct influence on the global economy.

It will be fascinating to observe how this issue evolves in the future.

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