According to the most recent IMF data, in 2023, Southeast Asia’s GDP will reach $3.86 trillion, and Vietnam’s GDP is estimated at roughly $433.3 billion, making it the fifth largest economy in Southeast Asia. In terms of those numbers, Vietnam also ranks thirty fifth among the many world’s largest economies.
According to this forecast, by 2023, Vietnam’s economy shall be the identical size as Malaysia ($433.35 billion) and even larger than Myanmar ($74.9 billion), Cambodia ($30.9 billion), Brunei ($15.1 billion dollars), Laos ($14.2 billion) and East Timor ($2 billion). billion).
At the identical time, Indonesia ranks first within the region with an estimated GDP of around $1.42 trillion. Thailand ranks second with an estimated GDP of $512 billion in 2023, while Singapore and the Philippines are third and fourth with GDP of $497 billion and $435.7 billion, respectively.
Last 12 months, in response to IMF data, global GDP was estimated at around $104.48 trillion, with the United States remaining the world’s largest economy with a GDP of around $26.95 trillion. China is the second largest economy with a GDP of roughly $17.7 trillion, followed by Germany, Japan and India.
By the top of 2024, Vietnam’s GDP is projected to be roughly USD 469.7 billion, rating fifth within the region after countries akin to Indonesia ($1.54 trillion), Thailand ($543.35 billion), Singapore (520 .97 billion USD) and the Philippines ($475.94 billion).
According to the British Center for Economics and Business Research (CEBR), Vietnam’s economic rating has the potential to extend significantly in the longer term. In 2033, Vietnam is predicted to rank twenty fourth with an economic size of roughly $1.05 trillion.
It is projected to rise to twenty first place by 2038, with a GDP of USD 1.559 trillion, overtaking other ASEAN economies akin to Thailand, Singapore and the Philippines to affix the ranks of the world’s 25 largest economies.
CEBR also estimates that Vietnam’s average annual GDP growth rate in 2024-2028 shall be 6.7%. Meanwhile, growth is predicted to achieve 6.4% over the following nine years.
With a big and young population, Vietnam is poised to overtake other ASEAN countries and achieve high-income status by 2045.
