How much does Vietnam’s GDP rank in the world?
According to the International Monetary Fund (IMF), Indonesia’s nominal GDP in 2021 leads the way among ASEAN countries, reaching about 1,150 billion USD.
Nominal GDP of ASEAN countries in 2021 (billion USD). Source: IMF.
In second place after Indonesia is Thailand with a GDP of about 546 billion USD. The Philippines ranks third with a GDP of about 386 billion USD. In fourth place is Singapore with a GDP of about 379 billion USD.
Meanwhile, Vietnam’s GDP in 2021 will reach about 368 billion USD, ranking 5th in the region. After Vietnam, Malaysia holds the 6th position in the group of large economies in the region with a GDP of about 358 billion USD.
Among the countries in the ASEAN group, there are 6 countries in the top 50 countries with the largest GDP in the world. Those 6 countries are Indonesia, Thailand, Philippines, Singapore, Vietnam and Malaysia.
In 2021, according to IMF data, the US is the leading country in the list of countries with the largest nominal GDP in the world with $22.940 billion. Meanwhile, right behind the US is China with a nominal GDP of about $16.863 billion.
The top 10 countries with the largest nominal GDP in the world did not change much. Specifically, those countries are: US ($22.940 billion), China ($16.863 billion), Japan ($5.103 billion), Germany ($4.230 billion), UK ($3.108 billion), India (2,946 billion USD), France (2.940 billion USD), Italy (2.120 billion USD), Canada (2,016 billion USD) and South Korea (1.924 billion USD).
As for countries in ASEAN, the country with the highest ranking is Indonesia, ranked 16th among the countries with the largest GDP in the world. Following are Thailand, Philippines, Singapore, Vietnam and Malaysia with 26, 27, 38, 41 and 42 respectively in the top 50 countries with the largest nominal GDP in the world.
Previously, at the Conference to discuss strategies to optimize investment opportunities in Vietnam after the pandemic with the theme “Vietnam – a rising star”, Mr. CK Tong, General Director of BW Industrial Development JSC once affirmed. Decision: “Whether there is Covid-19 or not, Vietnam still holds a favorable position to welcome the wave of China+1”.
Mr. CKTong emphasized that Vietnam has the capacity to produce many complex products with high technology content. The proof is that Samsung is making most of its phones in Vietnam, even the latest models. There is no doubt that the Vietnamese workforce can produce the most advanced equipment. Therefore, according to Mr. CKTong, Vietnam’s economy will surpass Thailand, Indonesia and the Philippines in the coming years.
In addition, Vietnam is among the top 20 economies in the world in terms of trade. In 2021, Vietnam’s GDP will grow by 2.58% over the previous year. Inflation is well controlled, monetary policy is managed flexibly, sufficient capital is provided to serve the needs of the economy.
Along with that, budget revenue increased sharply, estimated at 1,523.4 trillion VND, up 13.3% compared to the estimate, import and export turnover reached a new record with 668.5 billion USD and became one of the Top 20 countries in terms of trade.
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