Intellasia East Asia News – Vietnam becomes fifth largest economy in Southeast Asia: IMF

Vietnam’s gross domestic product (GDP) reached approximately $368 billion in 2021, making it the fifth-largest economy in Southeast Asia and 41st in the world, the International Monetary Fund (IMF) World Economic Outlook has revealed.

The United States took the lead with $22,940 billion, followed by China with $16,863 billion.

For GDP per capita, Vietnam secured $3,743 per person ranking sixth in Asean and 124th in the world.

Globally, the top 10 countries with the largest GDP per capita are Luxembourg (US$131,302), Ireland (US$102,394), Switzerland (US$93,515), and Norway (US$8.244).

They were followed by the US (US$69,375), Iceland (US$102,394), Denmark (US$67,920), Singapore (US$66,263), Australia (US$62,619), and Qatar (US$61,791).

In Southeast Asia, Singapore ranked first with $66,263 per person, followed by Brunei (US$33,979), Malaysia (US$11,125), Thailand (US$7,809), and Indonesia (US$4,225).

This year Vietnam has set targets of recording 6 6.5 percent GDP growth and raising its GDP per capita to $3,900. It plans to raise the GDP per capita to between $4,700 and $5,000 by 2025 and $7,500 by 2030.


Category: Economy, Vietnam

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