No products in the basket.
Vietnam’s economy projected to outpace Thailand’s by 2038
The UK's Centre for Economics and Business Research (CEBR) predicts an impressive economic growth for Vietnam, estimating that by 2038, Vietnam will rise to the 21st position in the global economic ranking with a GDP scale of US$1.56 trillion, surpassing other ASEAN economies like Thailand, Singapore, and the Philippines.
According to the latest data from the International Monetary Fund (IMF), Vietnam’s gross domestic product (GDP) in 2023 is estimated to have reached about US$433.3 billion, ranking it fifth in Southeast Asia alongside Malaysia and above countries like Myanmar, Cambodia, Brunei, Laos, and East Timor.
Key Takeaways
- Vietnam’s GDP is estimated to be the fifth highest in Southeast Asia in 2023, with potential for rapid economic growth in the future.
- The UK’s Centre for Economics and Business Research (CEBR) predicts that Vietnam’s economy could rise to the 24th position globally by 2033 and 21st position by 2038.
- Vietnam and the Philippines are expected to improve their economic rankings in the ASEAN region through repositioning in the global value chain, internal reforms, and increased investment.
Thailand, while still a significant player in the region, will need to keep pace with Vietnam’s rapid progress to maintain its standing in the global economic landscape.
Vietnam’s ascent is fueled by several factors, including its large and youthful population, which provides a competitive edge. As it continues to outpace its neighbors economically, Vietnam is poised to achieve high-income status by 2045
Support authors and subscribe to content
Subscribe to read the entire article.
Login if you have purchased
