In 2024, with GDP reaching 476.3 billion USD, Vietnam's economic scale in 2024 is the 4th highest in Southeast Asia, above the Philippines (462 billion USD) and Malaysia (422 billion USD). If we consider the world, Vietnam is the 34th largest economy in the world.
With the above results, the International Monetary Fund (IMF) forecasts that Vietnam's economic scale in 2025 is estimated at 491 billion USD, ranking 34th in the world and 5th in Southeast Asia.
Notably, the IMF estimates that by 2029, Vietnam's economic scale will reach 627 billion USD, surpassing Thailand (616 billion USD) to become the 32nd largest economy in the world, and the 4th in Southeast Asia. Vietnam's ranking continues to be maintained in 2030, when the economic scale is forecast to reach 666.5 billion USD
Recently, the Center for Economic and Business Research (CE BR) forecasted that Vietnam will become the second largest economy in Southeast Asia after Indonesia and the 20th largest economy in the world by 2036.
The report shows that, as of 2021, Vietnam is estimated to have an average domestic product (GDP) per capita adjusted according to purchasing power of 11,608 USD.
The report stated that Vietnam's economic growth story is nothing short of a " miracle", with reform reform in the mid-1980s, along with favorable global trends, helping the country achieve rapid economic growth and turning the country from a poor country into a low-middle-class country.
According to the report, to achieve the goal of becoming a high-income country by 2045, Vietnam must grow at an average annual rate of about 5% per capita. However, Vietnam is facing key challenges on its path to becoming a high-income country.
With global trade declining and the aging population, CEBR recommends that Vietnam needs to significantly improve policy implementation efficiency, especially in areas that will be seriously affected by automation and climate change.
In the 2021-2036 period, CEBR forecasts that Vietnam's position in the World Economic Rankings will improve significantly, with the ranking increasing from 41 to 20 by 2036. At that time, Vietnam will rank 2nd in Southeast Asia, after Indonesia.
